Stride Gaming PLC Trading Statement (1131K)
September 19 2016 - 2:00AM
UK Regulatory
TIDMSTR
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 GBP47m (2015: GBP27.8m) and EBITDA to be not less than
GBP12.3m (2015: GBP7.3m), 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.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Enquiries:
Stride Gaming plc
Nigel Payne (Non-Executive Chairman)
Eitan Boyd (Chief Executive Officer)
Ronen Kannor (Chief Financial
Officer) +44 (0) 20
www.stridegaming.com 7284 6080
Canaccord Genuity Limited (Nominated
Adviser and Joint Broker)
Bruce Garrow
Emma Gabriel +44 (0) 20
Richard Andrews 7523 8000
Shore Capital (Joint Broker)
Simon Fine
Mark Percy +44 (0) 20
Toby Gibbs 7408 4090
Yellow Jersey PR
Alistair de Kare-Silver +44 (0) 7825
Felicity Winkles 916 715
About Stride Gaming plc:
Stride Gaming is an online gaming operator in the bingo-led and
the global social gaming market. The Company operates a
multi-branded strategy across its two verticals, and uses its own
proprietary and purchased software to provide online bingo and slot
gaming for its players, and a social gaming mobile application.
Stride Gaming's real money offering is presently focused on the UK
market, is licensed and only operates from the regulated
jurisdictions of the UK and Alderney. The Company's players' reach
is international in the mobile social gaming market with a focus on
the North American market.
Further information on the Group is available at:
www.stridegaming.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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