Stride Gaming sees FY ahead of market expectations

19th Sep 2016 07:36

(ShareCast News) - Stride Gaming said on Monday that it expects its results for the year to the ahead of market views following very strong trading in the second half.In a trading update ahead of its final results for the year to the end of August, the online gaming operator said it expects net gaming revenue of no less than £47 and earnings before interest, tax, depreciation and amortisation of no less than £12.3m versus £27.8m and £7.3m, respectively, last year.It noted that the previous year contained only nine months of the Point of Consumption tax.Stride said organic growth from its existing business has been particularly strong. With the completion of the acquisitions of Tarco Assets, Netboost Media and 8Ball Games on 31 August 2016, it is now focused on integrating these gaming companies into the enlarged group and maximising synergy benefits.Chief executive Eitan Boyd said: "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."