Stride taking big steps in social gaming

Stride taking big steps in social gaming

Monday, May 23, 2016 Totally Gaming
Eitan Boyd was buoyed by the impact of Stride's InfiApps purchase

Eitan Boyd, chief executive of Stride Gaming, said the addition of InfiApps alongside its real money gaming offering helped it to double digit growth across key indicators during the six months to February 29.

The bingo and social gaming operator, which owns Kitty Bingo and purchased US-facing InfiApps for £27m (€35m/$39.2m) last summer, also said it benefited during the period from the introduction of its own gaming platform technology after acquiring Nextec Software. 

In a trading statement which reported results on a pro forma basis, Stride said group net gaming revenue was up 21 per cent to £21.6m with adjusted earnings before interest, taxes, depreciation and amortisation growing by 29 per cent to £5.6m.

"The group has delivered another period of robust growth,” said Boyd. “This has been achieved despite regulatory and tax headwinds and demonstrates the underlying strengths of our business, which include owning our own proprietary software, our multi-branded strategy and our highly experienced management team.

"We have successfully integrated InfiApps, the mobile social gaming company, into the group, the acquisition of which complements the strong organic growth delivered in our core real money gaming vertical.”

Following the success of Stride’s acquisition strategy during 2015, Boyd reiterated the company’s ambition to continue growing through further purchases in the soft gaming sector.

“We continue to view the increased regulatory environment as an opportunity for us to grow our market share and believe there are significant acquisition opportunities available,” he said. “We will continue to monitor potential selective strategic acquisitions that support our existing operations or that allow us to expand into complementary verticals.”

TotallyGaming.com says: “A year after it was publicly listed, Stride continues to impress with its results and ambitious strategy within soft gaming verticals.”

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