Stride Gaming report show strong growth in 2016 with key acquisitions

Betting Business Stride Gaming
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The latest audited financial report for Stride Gaming highlights main areas of growth for the company in line with transformational acquisitions during 2016.

 

[dropcap]T[/dropcap]he gaming operator, Stride Gaming, has confirmed considerable growth across its multi-brand company during the 12 months ending August 2016 in its latest financial report.

Stride Gaming announced a strong growth up to 22 percent in Net Gaming Revenue to a total of £47.8million with EBITDA reaching £12.3million, an increase of 27 percent.

A key area of investment for the company was through the transformational acquisitions of 8Ball, Netboost Media and Tarco Assets, which resulted in total shares and cash of up to £70.2 million for Stride.

Stride Gaming also saw significant growth through mobile and touch devices, with 51.8 percent of the total Group GGR being represented by this sector.

Commenting on the results, Eitan Boyd, CEO of Stride Gaming, said: “I am delighted to present these excellent results to shareholders. 2016 was an exciting year for the company where we once again delivered strong organic growth and undertook transformational acquisitions. With 105 brands and 10% market share of the UK online bingo market following these acquisitions, Stride Gaming now has material scale, strong operational leverage and occupies a pre-eminent position in the soft gaming market.

“The business has never been in such a strong position to build on its excellent achievements of 2016. Our focus in 2016/17 will be on integrating these recent acquisitions, continuing our strong organic growth and examining entry into other soft gaming verticals. Looking ahead, we are excited by the outlook for the Group as we build on our goal of being the leading UK based soft gaming company and maximising value for shareholders.”

To read Stride Gaming plc’s complete audited results for the year ended 31 August 2016, find the full announcement here.


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