Tag Archives: Stride Gaming

Rank pleased with Grosvenor progress as critical Stride integration begins

Rank Group Plc has detailed further progress for the firm’s transformation objectives and confidence in future prospects, as the London listed gambling group publishes its latest trading update for the quarter ending 30 September 2019. Rank records a 10% increase in group like-for-like net gaming revenues (NGR), detailing strong continued growth across its digital channel up 16% NGR. Maintaining its digital …

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Rank finalises Stride Gaming takeover

London-listed gambling operator The Rank Group (Rank) has confirmed this morning that it has successfully completed its take over of online gambling group Stride Gaming. Confirmed in a statement, Rank will now hold the entire issued ordinary share capital of Stride, which was valued at £115.3m in May of this year. John O’Reilly, Rank Chief Executive, commented on the announcement: …

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Rank clears UKGC hurdle in takeover of Stride Gaming

Closing trading on Friday 20 September, the governance of London Stock Exchange-listed Rank Group Plc sanctioned a formal update on the firm’s acquisition of London AIM-listed Stride Gaming Plc. Updating deal stakeholders, Rank governance confirms that its shareholder approved £115 million acquisition of Stride Gaming has met the requisites of the UK Gambling Commission (UKGC). In November 2018, Daub Alderney …

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Rank Group pursues Stride Gaming for £115 million

The governance of Rank Group Plc has this morning confirmed that it has entered ‘advanced discussions’ to acquire London AIM-listed online gambling group Stride Gaming Plc. Rank the operating company of Mecca Bingo and Grosvenor Casinos, has tabled a ‘28% premium’ offer on Stride’s share price, putting forward to investors an all-cash ‘151 pence per share’ purchase price to acquire …

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Stride Gaming revenue capacity impacted by ‘regulatory changes’

The governance of London AIM-listed Stride Gaming has this morning disclosed that corporate net-gaming revenues for the ‘six-month period up to 28 February’ will be 5% lower than expected. Updating investors, Stride governance details that the firm’s revenue capacity has been disrupted by ‘fiscal and regulatory changes implemented in the second half of the calendar year 2018.’ In its update, …

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Stride places itself under ‘offer period’ reviewing all future options

Issuing a market statement, the governance of London AIM-listed online gambling group Stride Gaming Plc has clarified its strategic position/intent, following media reports that it seeks an outright sale of the business. Stride governance confirms that at present ‘all strategic options are being considered’ with a view to maximising shareholder value, including – i) implementing an aggressive UK and international …

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UKGC has harsh words for gaming industry amid more regulatory action

Online gambling’s reputation continues to be dragged through the mud this November, as the UK Gambling Commission (UKGC) this morning confirms that it had imposed further action on two UK-licensed operators for failing ‘to prevent money laundering and keeping consumers safe from gambling-related harms’. As previously reported this month, Daub Alderney, a subsidiary of London-AIM listed Stride Gaming was fined £7.1 …

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UKGC hits Stride Gaming with £7m fine for consistent AML & SR failures

Daub Alderney an online gambling subsidiary of London AIM-listed Stride Gaming Plc, has been fined £7.1 million for failing to meet UK Gambling Commission (UKGC) rules and standards on money laundering and protection of vulnerable customers. Concluding an investigation under the mandate of the ‘2015 Gambling Act’, a UKGC review panel found that Daub had consistently failed to: Conduct appropriate monitoring …

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Stride revises 2018 expectations following £4m UKGC compliance penalty

The governance of London AIM-listed online gambling group Stride Gaming has set aside £4 million to pay a forthcoming UK Gambling Commission (UKGC) penalty in relation to compliance failures. The UKGC penalty sees Stride revise its 2018 corporate forecasts (year ending 31 August), with governance anticipating a 20% decline in EBITDA performance to £16 million. On 2 August 2018, Stride …

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Stride appoints Richard Sager as international business lead

Seeking to boost its new market ambitions, London AIM-listed online gambling group Stride Gaming has confirmed the appointment of Richard Sager as Head International Business Development. An external industry appointment, undertaken by Stride Gaming governance, Sager joins Stride’s executive leadership team from online subscription nutritionist retailer Graze.com A seasoned executive in commercial development and growth strategies for international enterprise, Sager …

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