Stride Gaming Lauds Full Year Results

By Casinomeister, Last updated Dec 2, 2016

Strong organic growth and successful acquisition strategy

Social gaming and online bingo gaming company Stride Gaming plc delivered strong full year results for the 12-month period ending August 31, 2016.
The company attributed its success to robust organic growth and the completion of its "transformational" acquisitions of 8Ball, Netboost Media and the Tarco Assets.
Key performance highlights include (results adjusted to reflect InfiApp acquisition and impact of POC tax):
– Group Net Gaming Revenue ("NGR") up 22 percent to GBP 47.8 million (2015: Pro-forma GBP 39.3 million and reported of GBP 27.8 million);
– Group Adjusted EBITDA* up 27 percent to GBP 12.3 million (2015: Pro-forma GBP 9.7 million and reported GBP 7.3 million);
– Adjusted earnings* up 27 percent to GBP 10.9 million (2015: Pro-forma GBP 8.6 million);
– Adjusted basic earnings per share* up 8 percent to 21.2 pence per share (2015: Pro-forma 19.6 pence);
– Gross assets up 117 percent to GBP 105.8 million (2015: GBP 48.7 million), including cash of GBP 21.1 million (2015: GBP 7.4 million);
– Placement of 12 million shares raising GBP 27 million (before expenses);
– Refinancing of an existing GBP 8 million shareholder loan facility with Barclays PLC post year end; and
– Final dividend of 1.4 pence per share recommended by the Board, subject to shareholder approval at the AGM, taking the total dividend for the full year to 2.5 pence per share.
– Acquisitions of 8Ball, Netboost Media and the Tarco Assets completed for total consideration payable in shares and cash of up to GBP 70.2 million;
– Real money gaming funded players** up 37 percent to 71,220 (2015: 52,000);
– Yield per player up 7 percent to GBP 120 (2015: GBP 112) reflecting an improvement in engagement and player monetisation;
– Gross gaming revenue*** ("GGR") through mobile and touch devices represents 51.8 percent (2015: 40.4 percent) of total Group GGR;
– Successful integration of InfiApps, the mobile social gaming company acquired in July 2015; and an increase in average deposit size to US$24.5 (2015: US$17).
– InfiApps daily average revenue per paying user increased to US$35 (2015: US$28.5).
"I am delighted to present these excellent results to shareholders," Eitan Boyd, chief executive officer of Stride Gaming commented. "2016 was an exciting year for the Company where we once again delivered strong organic growth and undertook transformational acquisitions.
"With 105 brands and 10 percent market share of the UK online bingo market following these acquisitions, Stride Gaming now has material scale, strong operational leverage and occupies a pre- eminent position in the soft gaming market."

Online Casino News Courtesy of Infopowa

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