31 Jan 2017 07:00
31 January 2017
Stride Gaming plc
("Stride Gaming", the "Company", or "the Group")
AGM Statement
Trading in line with management expectations and integration of recent acquisitions progressing well
Stride Gaming plc (AIM: STR), the online gaming operator, announces that at today's Annual General Meeting ("AGM") the Chairman of Stride Gaming, Nigel Payne, will make the following statement:
"The Group's performance in the financial year is in line with management expectations. Performance of the real money gaming vertical has been strong which has more than offset weaker than expected performance in the social gaming vertical. The organic growth of the business is encouraging and the integration of 8Ball, Netboost Media and the Tarco Assets, the online bingo businesses which we acquired in August 2016 for up to £70.2 million is progressing in line with management expectation. Our focus in 2017 is on embedding these acquisitions into the enlarged Group, maximising synergies and ensuring the underlying organic business remains robust.
"With material scale and 105 brands following these acquisitions, Stride Gaming has 10% share of the UK online bingo market making it the fourth largest online bingo operator in the UK. The Board believes Stride Gaming is well positioned to capitalise on the opportunities in the sector and to increase our market share through strong organic growth and selective acquisitions."
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Enquiries:
Stride Gaming plc Nigel Payne (Non-Executive Chairman) Eitan Boyd (Chief Executive Officer) Ronen Kannor (Chief Financial Officer) www.stridegaming.com
| +44 (0) 20 7284 6080 |
Canaccord Genuity Limited (Nominated Adviser and Joint Broker) Bruce Garrow Emma Gabriel Richard Andrews
| +44 (0) 20 7523 8000
|
Shore Capital (Joint Broker) Mark Percy Toby Gibbs | +44 (0) 20 7408 4090
|
Yellow Jersey PR Alistair de Kare-Silver Felicity Winkles Joe Burgess
|
+44 (0) 7825 916 715
|
About Stride Gaming plc:
Stride Gaming is a leading online gaming operator in the soft gaming verticals of online bingo and following the acquisition of InfiApps in July 2015, it also operates in the global social gaming market. The Company operates a multi-branded strategy across its two verticals, and uses its own proprietary and purchased software to provide online bingo and slot gaming for its players, and a social gaming mobile application. Stride Gaming's real money offering is presently focused on the UK market, is licensed and only operates from the regulated jurisdictions of the UK and Alderney. The Company's players' reach is international in the mobile social gaming market with a focus on the North American market. Following the acquisitions of 8Ball, Netboost Media and the Tarco Assets, the online bingo businesses acquired in August 2016 for up to £70.2 million, Stride Gaming has 105 brands and a 10% share of the UK online bingo market, making it the fourth largest online bingo operator in the UK.
Further information on the Group is available at: www.stridegaming.com