Stride Gaming has announced that it is on course to surpass its initial full-year financial expectations for the 12 months through to August 31.
In a trading update, the multi-branded online bingo-led operator said trading in the second half of the financial year is “strong” with the organic growth of the business continuing at pace ahead of management expectations.
Stride also stated that it expects earnings before interest, tax, depreciation and amortisation (EBITDA) for the full year to amount to no less than £7 million (€9.8 million/$11.1 million).
The trading update comes after the firm last month posted impressive figures for the six months through to February 28.
Net gaming revenue in the first half was up 173% year-on-year to £11.7 million, while adjusted EBITDA came in at £3.6 million.
Speaking at the time, Nigel Payne, non-executive chairman of Stride, said: “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.”
source : www.igamingbusiness.com