Stride Gaming claims ‘significant’ growth across KPIs

Eitan Boyd, the chief executive officer of Stride Gaming, has hailed “significant” growth across all of the multi-branded, bingo-led operator’s key performance indicators (KPIs) during the six months through to February 28.

Net gaming revenue during the first half amounted to £11.7 million (€16.4 million/$18 million), which represents a huge increase of 173 per cent on the £4.3 million posted in the corresponding period last year.

Adjusted earnings before interest, tax, depreciation and amortisation came in at £3.6 million while Stride was also able to post a profit of £1.6 million before tax, compared to a loss of £127,000 in the first half of last year.

Total assets were up from £4.3 million to £32.6 million, with net assets also up from £4.6 million to £14.1 million.

Stride noted that its performance during the period was boosted by the launch of two new brands in the form of ‘Bingo Extra’ and ‘Magical Vegas’.

The operator has also expanded its operations through the acquisition of the trade and assets of Table Top Entertainment Limited, the proprietary gaming platform from Nextec Software, as well as Spacebar Media.

Nigel Payne, non-executive chairman of Stride Gaming, said: “I am delighted to present the maiden results for Stride Gaming PLC as a listed company, which are at record levels across all of the KPIs of the business.

The organic growth of the business continues at a robust pace and current trading is strong and ahead of management’s expectations.

“I am optimistic about the group’s future potential and we believe that the outlook for Stride Gaming is exciting.”

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