Stride Gaming reveals ‘excellent’ full-year performance

Stride Gaming said it delivered “strong organic growth” during the 12 months to August 31, with many of the bingo operator's key financials increasing year-on-year.

Net gaming revenue amounted to £47.8 million (€56.1 million/$59.8 million), up 22% on the previous full-year period and in line with forecasts made by Stride in a pre-close trading update issued in September.

Adjusted earnings before interest, tax, depreciation and amortisation came in at £12.3 million for the period, 27% higher than last year, while adjusted earnings also climbed 27% year-on-year to £10.9 million.

Eitan Boyd, chief executive of Stride, said: “I am delighted to present these excellent results to shareholder; 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.”

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