Stride Gaming acquires Indian operator Passion Gaming

Stride Gaming acquires Indian operator Passion Gaming

Monday, November 27, 2017 Posted by Michael Lawson
Passion is one of the main operators of rummy, the popular Indian card game.

UK-listed online bingo operator Stride Gaming has acquired a 51% controlling stake in Indian operator Passion Gaming, paying $3.75 million (£2.8 million) to do so.

Established in 2015, Chandigarh-based Passion Gaming has a particular focus on the Indian skills gaming market, and is the operator of popular Indian rummy portal RummyPassion.com.

Issuing a corporate statement, Stride Gaming CEO Eitan Boyd detailed how his company had gained an important asset for its accelerated growth strategy.

He said: “We have been monitoring the Indian market for some time as we see strong dynamics in the current environment as well as long-term growth potential. Our UK market experience and proprietary technology advantage, combined with Passion Gaming’s market positioning and operational focus creates a highly attractive proposition.”

Bobby Garg, co-founder and CEO of Passion Gaming, said the partnership with Stride places the firm “in a strong position to bring international standards to rapidly growing Indian gaming market.”

In its corporate update, Stride governance detailed that it had first right to acquire the remaining 49% of equity in Passion Gaming. The company will move to expand RummyPassion.com’s games portfolio with further investment in the asset.

Totally Gaming says: India is one of the world’s largest emerging economies, and it's betting industry is gradually beginning to reflect this. UK-based gaming and betting operator Stride Gaming has reinforced its global growth plans with this acquisition of Passion Gaming - one of the leading suppliers of the popular Indian game rummy. Stride now has over 300 employees worldwide, in countries such as Mauritius, Israel and South Africa.

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