Stride Gaming is a UK focused, real money, bingo-led online operator using its proprietary and purchased software to provide online bingo and related gaming activities to players. Stride Gaming only operates in regulated markets, principally the UK.

First Day of Dealings on AIM

19 May 2015


Company site

stride-gamings-numbers-come-up-as-it-make-a-winning-start-to-life-on-aim



stride-gaming-reckons-it-can-triple-its-share-of-bingo-market-as-tax-change-hits-smaller-playersl

bought some the other day 182p ish

Interim results


H1 2015 Trading highlights:



· Successful IPO on AIM post period end on 19 May 2015 raising £11.2m (before expenses)

· Pro forma* H1 2015 Net Gaming Revenue ("NGR") up 173% to £11.7m (H1 2014: £4.3m)

· Funded players** up 64% to 52,000 (H1 2014: 31,600)

· Yield per player up 147% to £279 (H1 2014: £113)

· Current trading is strong and ahead of management's expectations



Operational highlights:



· Launch of two new brands: Bingo Extra and Magical Vegas

· Acquisition of the trade and assets of Table Top Entertainment Limited ("TTE") including the brands Jackpot Café, Jackpot Liner and King Jackpot and the acquisition of the propriety gaming platform from Nextec Software Inc; in aggregate for total consideration of £14.7m

· 25% of pro forma* NGR now coming from Mobile (H1 2014: 20%)

· Acquisition of Spacebar Media for consideration of £6.0m

· Obtained an Italian gaming license

Newly-listed Stride Gaming hits the ground running

By Ian Lyall

May 28 2015, 11:37am
The shares, listed at 132p, rose 3% following the results and were changing hands for 198p at 11.40pm. This values the business at just shy of £100mln.
The shares, listed at 132p, rose 3% following the results and were changing hands for 198p at 11.40pm. This values the business at just shy of £100mln.


Newly-listed Stride Gaming (LON:STR) revealed the progress it made as a privately run company as it unveiled a 173% rise in revenues and a move decisively into the black in the first half.

The company, which raised £11.2mln from its IPO on May 19, reported net gaming revenues of £11.7mln and earnings before tax, depreciation and amortisation of almost £3.6mln during the six months to February 28.

The shares, listed at 132p, rose 3% following the results and were changing hands for 198p at 11.30pm. This values the business at just shy of £100mln.

Stride was founded by Eitan Boyd and Darren Sims, with the support of two previous financial backers, Tal Harpaz and Sean Rose, and is chaired by Nigel Payne, the former boss of Sportingbet.

The float proceeds will be used as acquisition currency and to fund the company’s quest for a bigger share of the £1.6bn Internet bingo cake.

It owns the Kitty Bingo, Lucky Pants and Jackpot Liner sites and last year posted revenues of £20.2mln, and underlying earnings (EBITDA) of £5.7mln.

Its ability to generate cash will see it join the dividend list very early in its life as a listed company.

“Gaming has a very high cash conversion, so we hope to attract some of the income funds. We will probably start with a dividend policy in year one,” said chief executive Boyd.

Members of the Stride team have an impressive record for building businesses. In 2007 they sold Globalcom to 888.com for £27mln, while two years later 888 paid them £60mln for Wink Bingo.

It joins the market as a fully formed company with its own platform.

Owning the technology that drives the sites makes it easier to expand into new territories and allows Stride to optimise what it makes from its existing crop of customers.

It should be remembered that online bingo is a pool business, which means business is essentially risk-free.

Some 2.5mln play the game in the UK and it is part of the growing online gaming industry that will generate around £3bn next year, with bingo accounting for more than half.

Stride sees an opportunity where many of the UK market’s smaller brethren see as a massive impediment in the form of the point of consumption (POC) tax that has been introduced in the UK.

As the tax bills are mailed out, so the smaller operators will be forced to throttle back marketing spend.

This is then expected to impair the ability of these minnows to snare new customers.

Stride hopes to be able to continue spending sensibly on acquiring new players. In fact it hopes and expects the process to become much cheaper than it is today.

CEO Boyd reckons as much as 20% of the market will be up for grabs as a result of the POC levy.

He told Proactive Investors in a recent interview there is a chance to grow the Stride market share three-fold in the next two years.

“We believe it is only a matter of time, once companies start paying the POC, that marketing expenditure will drop amongst the smaller operators,” said Boyd.

“That is a good opportunity to not exactly clean up, but to make headway. We will have more nets in the water with our multiple brands.”

The cash injection and shares give the firm the currency to pursue acquisitions; however, it has laid out five individual growth pillars.

They include product development, white labelling opportunities and expansion into new territories as well as the aforementioned market share push and organically building the firm.

Stride is coming to the market at a hot time for online gaming. GVC Holdings, backed by Pokerstars owner Amaya Gaming, is locked in a £1bn fight with 888 Holdings over Bwin Party.

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Trading Update
RNS
RNS Number : 7350Q
Stride Gaming PLC
22 June 2015

Stride Gaming Plc

("Stride Gaming", or the "Company")

Trading Update

Trading ahead of management expectations

Stride Gaming, the multi-branded online bingo-led operator, is pleased to announce the following update to current trading.

Trading in the second half of the financial year is strong with the organic growth of the business continuing at pace and ahead of management expectations. Management now expects adjusted EBITDA for the year ended 31 August 2015 to be not less than £7 million.

Acquisition of International Social Gaming Company
RNS
RNS Number : 6504U
Stride Gaming PLC
31 July 2015



31 July 2015



Stride Gaming plc

("Stride Gaming", or the "Company")



Acquisition of International Mobile Social Gaming Company

Entry into new social gaming vertical



Stride Gaming plc (AIM: STR), the multi-branded online bingo-led operator, which listed on AIM in May 2015, is pleased to announce the acquisition (the "Acquisition"), of the entire issued share capital of InfiApps Limited ("InfiApps"), a profitable internationally-focused mobile social gaming company. The total consideration payable for the Acquisition is up to $39.2 million. Of this, an initial consideration of US$21.2 million in cash (the "Initial Consideration") will be payable on completion, together with additional earn-out consideration of up to $18 million payable in cash, determined by the EBITDA generated by InfiApps in the two years following completion of the Acquisition (the "Earn-Out Consideration").



The Acquisition:



· Is immediately earnings enhancing;

· Offers a strong and profitable presence in the social gaming segment of online gaming across new and international geographies;

· With some 5.2 million player downloads of flagship game, Slot Bonanza, and over 500,000 users worldwide, adds material scale and reach to the Stride Gaming group's existing operations;

· InfiApps audited profit before tax for the five months ended 31 May 2015 was $2.3 million; and

· InfiApps audited profit before tax for the year ended 31 December 2014 was $3.4 million.



The Acquisition will provide the Stride Gaming group with an entry into the social gaming segment of online gaming, with users based internationally, in particular in the United States of America, Canada and Australia. The Acquisition will be immediately earnings enhancing and is in line with the Company's stated strategy to develop its business. By expanding into new verticals alongside the online bingo market the Acquisition will combine Stride Gaming group's bingo-led expertise with InfiApps' social gaming expertise, both of which are complementary offerings to each other, which provide potential for significant operational leverage on an international scale.



InfiApps brings with it an experienced management team with valuable knowledge of the social gaming space. InfiApps was founded in 2012 in Israel and provides players with entertaining applications and games combining the latest technology, graphics and sound, available on multiple mobile platforms. InfiApps has a number of games including its flagship game, Slot Bonanza, a social casino with a variety of slot machines, which, as at today, is played by over 500,000 users worldwide and available by free download from Apple Store, Google Store and Amazon Market Place. To date, there have been some 5.2 million player downloads of Slot Bonanza.



Financial Information on InfiApps and further details of the Acquisition



For the financial year ended 31 December 2014, InfiApps generated turnover of $13.7 million (2013: $4.6 million), EBIT of $3.6 million (2013: $1.0 million) and profit before tax of $3.4 million (2013: $1.0 million). Net assets were $0.6 million. In the financial year ended 31 December 2014, 69% of InfiApp's revenue was generated from North America.

For the five months to 31 May 2015, InfiApps generated turnover of $8.3m and profit before tax of $2.3 million. These audited numbers are presented under US GAAP.

Stride Gaming will fund the Initial Consideration on completion of the Acquisition, which is expected to occur within a week. This amount is subject to a post-Completion working capital adjustment (determined on a debt free/cash free basis). Of the Initial Consideration amount, approximately US$3.2 million will be retained in escrow to serve as security for certain claims of the purchaser under the agreement. Funding for the Initial Consideration is being satisfied from the Company's own cash balances and by way of a loan of £8 million from a significant shareholder of Stride Gaming, Poppy Investments Limited (the "Loan"). The Loan, which is unsecured and without arrangement fees, is repayable at any time prior to 30 July 2017 at the Company's election and will accrue interest at a rate of 7.5% per annum, payable monthly. The Directors anticipate that the Loan will be replaced by a credit facility from an alternative source of debt in the coming months.



The Earn-Out consideration is payable in cash and is determined by the EBITDA generated by InfiApps in the two years following completion of the Acquisition. Over the two year earn-out period, the total earn-out payments, assessed at the end of each financial year, will be calculated by reference to four times the current EBITDA of the business less any and all amounts already paid, including the Initial Consideration.



The total consideration for the Acquisition is capped at $39.2 million. Introduction and arrangement fees of up to $3.8 million may become payable in relation to the Acquisition.





Eitan Boyd, Chief Executive of Stride Gaming, commented:



"I am extremely pleased by the Acquisition of InfiApps. With revenue in the US social gaming industry alone forecast to exceed $12.3 billion in 2017, this deal provides us with an opportunity to enter into the rapidly growing mobile social gaming space and will further advance and bolster our growing position in the online gaming sector.



"The addition of InfiApps widens our current portfolio of products and brands and will significantly enhance and diversify our player offering internationally, as well as provide access to new users and new geographies generating significant operational leverage.



"The acquisition is in line with our strategic objective of expansion through acquisitions, complementing our strong organic growth, and also affords Stride Gaming a platform in which to take our online bingo product, over time, into the social gaming space.



"This Acquisition, coupled with our strong current trading, as previously reported, leaves the Board to view the prospects for the full year and the future with a high degree of confidence."



Ronen Kalmanson, Chief Executive of InfiApps, commented:



"I am delighted that InfiApps is joining the Stride Gaming family. The coupling of our social gaming platform with their gaming operational expertise will allow for an even better player experience and contribute to the continued growth of the Company."

Stride Gaming PLC (STR:LSE) set a new 52-week high during Tuesday's trading session when it reached 258.00. Over this period, the share price is up 58.6%.

Pre-close Trading Update
RNS
RNS Number : 6119Y
Stride Gaming PLC
10 September 2015

10 September 2015

Stride Gaming plc

("Stride Gaming", or the "Company")



Pre-close Trading Update

Company continued strong organic growth in the second half



Stride Gaming plc (AIM: STR), the multi-branded online gaming operator, is pleased to announce the following update on trading for the financial year to 31 August 2015.

The second half of the financial year has continued to see strong organic growth within the business. As a result, the Board is pleased to report that Net Gaming Revenue for the financial year will be not less than £25 million and adjusted EBITDA for the financial year will be not less than £7 million. The Board is encouraged not only by the momentum in its existing business, but also by the encouraging initial indications from the recently acquired internationally focused mobile social gaming company, InfiApps Limited.

Stride Gaming will announce its results for the year ended 31 August 2015 by the end of November 2015.

Shares - Second best IPO of the year, sp up 125.4% since admission on 19 May 15

proactive investors -

Full house for Stride Gaming after £70mln takeovers

08:46 31 Aug 2016

“The completion of these acquisitions will see us continue to build critical scale to become the largest online bingo operator who has its own proprietary software and, importantly, the fourth largest online bingo operator in the UK.”

Online bingo balls

The acquisitions take its share of the UK bingo market to 25%


Stride Gaming PLC (LON:STR) has completed a host of acquisitions, taking its share of the UK online bingo market from just 2% to over 25%.

The online bingo operator has bought out 8Ball, Netboost Media and the Tarco Assets, worth a total of £70.2mln.

Chief executive Eitan Boyd called it an “exceptional period” for the group.

“The completion of these acquisitions will see us continue to build critical scale to become the largest online bingo operator who has its own proprietary software and, importantly, the fourth largest online bingo operator in the UK.”

The group said it was now in a stronger position than ever to realise value, despite renewed pressure from higher taxes and increased regulation that was hitting other operators in the market.

“We will continue to eye opportunities to undertake further acquisitions whilst maintaining our robust organic growth,” added Boyd.

Tarco's assets include Moon Bingo and Robin Hood Bingo. The group has more than 63,000 active players.

Online bingo operator 8ball has more than 60,000 active players and 74 sites, including Booty Bingo and WeWantBingo

Trading Statement
RNS
RNS Number : 1131K
Stride Gaming PLC
19 September 2016
 
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.

take over, from nektan, aspers, gvc, ptec, all most likley, in the meantime, less
impairments = more profits nov 2017 Ps Aspers may take a liking to str s/p 214 pence. BB

Pre-close Trading Update
RNS
RNS Number : 9638Q
Stride Gaming PLC
18 September 2017
 
18 September 2017
 
Stride Gaming plc
("Stride Gaming", the "Company", or "the Group")
 
Pre-close Trading Update
 
 
Stride Gaming plc (AIM: STR), a leading online gaming operator, provides the following trading update ahead of its final results for the year ended 31 August 2017.
 
The Group is pleased to report that strong trading has continued in the second half of the financial year. As a result, the Board is confident of meeting the upper end of market expectations for the financial year which has now closed.
 
The Group intends to announce its results for the year ended 31 August 2017 on 21 November 2017.
 
Eitan Boyd, Chief Executive of Stride Gaming, commented:
 
"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.
 
"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."

StockMarketWire.com
Gambling technology group Stride Gaming swung to a first half profit after it boosted revenue.

Pre-tax profit amounted to £1.5m, compared to a loss of £10.2m in the previous corresponding period.