Stride Gaming hits the jackpot with first half results

28th May 2015 11:02

Stride Gaming's first half profits rebounded from last year's losses, as revenue more than doubled on rising levels of funded players, as well as higher yields per player.The online gaming company, which began trading on AIM early in May, saw pretax profits swell to 1.6m, a significant turnaround from the £127,000 loss registered over the same period a year earlier.Meanwhile, revenue jumped to £11.7m, from £4.3m as funded player numbers rose to 52,000 and and the yield per player more than doubled to £279 from £113."The six months to February 28, 2015 has been a successful period for Stride Gaming. The organic growth of the business continues at a strong pace and current trading is strong and ahead of management's expectations," said chief executive Eitan Boyd."Having successfully listed on AIM post period end, I believe the outlook for Stride Gaming is exciting and we will continue to lay strong foundations for future growth," he added.Stride operates the Kitty Bingo, Lucky Pants Bingo, Bingo Extra, Jackpot Café, Jackpot Liner, King Jackpot brands, together with the online casino brands Spin and Win and Magical Vegas.As of 11:30 BST, shares in Stride Gaming were trading 3.39% higher at 198.