The UK-based leading online slot gaming operator Stride Gaming plc officially announced its results for the fiscal year which ended on August 31st, 2016.
The Chief Executive Officer of Stride Gaming Eltan Boyd shared he was very satisfied with the excellent results presented in the annual financial report of the company. He explained that it was a great thing the web-based slots operator had managed to deliver strong organic growth and also praised the fact that the company had undertaken some transformational acquisitions.
He reminded that the company owned a total of 105 brands to date and held a 10% market share of the online bingo market of the UK after the acquisitions had been finalised. According to Stride’s CEO, the operator now had managed to consolidate its presence on the market. Mr. Boyd added that the business had never been so well-positioned and revealed that the online slots operator would remain focused on the integration of the above-mentioned acquisitions and on generating a continuous organic growth in the 2016/2017 fiscal year.
The company, which operates on the market through a large number of brands, has provided the financial information on a pro-forma basis compared to the results reported a year ago. Stride Gaming reported a Net Gaming Revenue (NGR) of £47.799 million. This is a 22% increase in comparison to the result posted only a year ago, which amounted to £39.289 million.
In addition, the online slots operator reported a 27% increase in its Adjusted Earnings before interest, taxes, depreciation and amortisation (EBITDA) from £9.720 million to £12.318 million. The adjusted earnings of the company also rose by 27% in the 12 months ended on August 31st and reached £10,906 million. In comparison, the adjusted annual earnings for the year ended on August 31st, 2015 amounted to £8.575 million.
Apart from the financial highlights for the 2015/2016 fiscal year, Stride Gaming plc also offered some information regarding the company on operational level. The online slots operator shared that the fact that it had acquired Netboost Media, Tarco Assets and 8Ball turned out to be helpful, especially when total consideration payable in shares was regarded. The company also explained that the integration of the mobile social gaming company InfiApps had been successfully carried out in July 2015.
- Author
Olivia Cole
