Interactive
UK – Acquisitions make Stride UK’s fourth biggest online bingo player
By Phil - 31 August 2016
Stride Gaming has completed the £70.2m acquisition of 8Ball and Netboost Media and Tarco Assets which will see Stride become the fourth largest online bingo player in the UK and the largest gaming operator in the UK who has its own proprietary software.
The Acquisitions will increase Stride Gaming’s market share of the UK bingo market from five to 10 per cent whilst expanding its multi-two to over 25 per cent (by number of bingo sites).
The Acquisitions augment the company’s vision to become the global market leader in the soft gaming vertical of the online gaming industry and are in line with Stride Gaming’s strategy to maximise shareholder value by achieving growth through organic and acquisitive means.
Stride Gaming CEO Eitan Boyd said: “This has been an exceptional period for the Group and the completion of these acquisitions will see us continue to build critical scale and become the fourth largest online bingo operator in the UK and the largest operator who has its own proprietary software. The acquisitions will increase our number of brands to 105, taking our share of the UK online bingo market by number of sites from two to over 25 per cent.
“As many operators in the gambling sector continue to struggle in the face of renewed pressure from higher taxes and increased regulation, we in contrast are in a stronger position than ever to realise value and deliver synergies from these acquisitions.
“To this end, we remain focused on building Stride Gaming into the market leader in the soft gaming vertical of the online gaming industry. We will continue to eye opportunities to undertake further acquisitions whilst maintaining our robust organic growth. We look forward to updating the market on our progress in due course.”
