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Alliance News

Stride Gaming Confident Of Meeting Top End Of Expectations (ALLISS)

Mon, 18th Sep 2017 10:48

LONDON (Alliance News) - Stride Gaming PLC on Monday said it is confident of meeting the upper end of market expectations for its recently ended financial year.

The online gaming operator said that strong trading had continued in the second half of its year that ended in August. It will report results for the year on November 21.

In a separate statement, Stride said that it has agreed a final earn-out payment for 8ball Games Ltd, which it acquired last August, after the business performed in line with expectations. It will pay GBP13.1 million, split with GBP9.1 million to be satisfied through the issue of 4.1 million shares, and GBP4.0 million in cash.

"2017 has been a successful year for Stride Gaming. With exceptional underlying organic growth across our Real Money Gaming vertical, together with an excellent trading performance from 8ball and Tarco acquired in August of last year, and the launch of our new B2B vertical Stride Together, I am delighted with the current shape and future prospects of the business," said Chief Executive Eitan Boyd in a statement.

"One of the great strengths of Stride is our robust proprietary platform which provides great flexibility, speed to market and in-depth analysis to provide a better user experience and more profitable delivery of service. As we grow in size we are seeing the benefits of this being increasingly realised and we look forward to the future with confidence," Boyd said.

Shares in Stride Gaming were up 3.6% at 230.50 pence Monday.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

Copyright 2017 Alliance News Limited. All Rights Reserved.

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