19 Sep 2016 07:00
19 September 2016
Stride Gaming plc
("Stride Gaming", the "Company", or "the Group")
Pre-close Trading Update
Stride Gaming plc (AIM: STR), the soft online gaming operator, provides the following trading update ahead of its final results for the year ended 31 August 2016.
The Group is pleased to report that trading in the second half of the financial year has been very strong. As a result, the Board now expects its results to be ahead of market expectations, with Net Gaming Revenue for the year ended 31 August 2016 to be not less than £47m (2015: £27.8m) and EBITDA to be not less than £12.3m (2015: £7.3m), notwithstanding that the prior year contained only nine months of the Point of Consumption tax.
Organic growth from the Company's existing business has been particularly strong. With the completion of the acquisitions of Tarco Assets, Netboost Media and 8Ball Games on 31 August 2016, Stride Gaming is now focused on integrating these leading gaming companies into the enlarged Group and maximising synergy benefits.
Eitan Boyd, Chief Executive of Stride Gaming, commented:
"We are delighted with the organic growth from our underlying business which remains robust. This, coupled with the completion of our recent acquisitions, means we have significant scale, increased market share and are now the fourth largest online bingo operator in the UK. With these positive developments in mind the Company looks forward to the future with confidence."
The Group intends to announce its results for the year ended 31 August 2016 in November 2016.
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)
Simon Fine Mark Percy Toby Gibbs | +44 (0) 20 7408 4090
|
Yellow Jersey PR Alistair de Kare-Silver Felicity Winkles
|
+44 (0) 7825 916 715
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About Stride Gaming plc:
Stride Gaming is an online gaming operator in the bingo-led and 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.
Further information on the Group is available at: www.stridegaming.com