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Stride Gaming looks for strategic buyers

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1-6 Stride Gaming looks for strategic buyersReading Time: 1 minute

 

The UK-based Stride Gaming, which operates Kitty Bingo and Bingo Extra, has announced it is open for a potential sale as part of a strategic move to maximise the value for shareholders.

The company is looking forward to expand its operations through acquisitions and also whether Stride should seek to participate in “potential industry consolidation through a sale of the company.”

Greg Johnson, analyst at Shore Capital, said that he saw merit in a tie-up with Mecca Bingo owner Rank Group.

“We see significant merit in combining Stride’s gaming assets, including its proprietary platform, with Rank, effectively doubling its online revenues.”

“Including likely material synergies, a tie-up with Stride would leave Rank in a stronger position to meet ongoing regulatory headwinds, transform the earnings profile of the enlarged group, as well as being potentially materially accretive.”

AIM-listed Stride, which is valued at £78.5 million, was fined by the Gambling Commission last year for compliance failings.

The firm added on Monday: “The group has a clear focus on winning and retaining mass market recreational customers on to its bingo and casino sites.

“Stride continues to leverage its infrastructure and proprietary technology to migrate more customers on to the Group’s higher margin proprietary platform and drive cost synergies across the business.

“The board believes the group will continue to be highly cash generative and the board remains committed to its revised dividend policy to distribute at least 50% of adjusted net earnings in dividends.”


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Stride Gaming looks for strategic buyers

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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PointsBet Partners With Catfish Bend Casino in Iowa

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9-15 PointsBet Partners With Catfish Bend Casino in IowaReading Time: 1 minute

 

PointsBet, the top-tier sportsbook operator, has entered a multi-year partnership with Catfish Bend Casino, one of Iowa’s leading casino, entertainment, and hotel destinations.

The partnership will include the launch of both premium retail and mobile sportsbook operations in Iowa, following proper licensing afforded by the Iowa Racing and Gaming Commission. PointsBet and Catfish Bend Casino will work in tandem to build out a multi-faceted sports entertainment venue centrally located on the Catfish Bend property.

“PointsBet is thrilled to announce this partnership, enabling us to create a first-class sportsbook for Iowa’s sports bettors at one of the best casino resorts in the Midwest. Catfish Bend Casino’s executives – Gary Hoyer and Rob Higgins – are two of the most progressive and forward-thinking operators in the industry. We knew they were the perfect match for PointsBet’s long-term vision of gaming in the U.S. from day one,” Johnny Aitken, PointsBet’s U.S. CEO said.

“We couldn’t imagine a better sportsbook to bring to Catfish Bend Casino and the state of Iowa. The potential legalization of sports betting in Iowa opens an exciting new opportunity for recreational and avid players, and PointsBet’s unmatched dedication to bettors makes them the ideal partner for our brand and go-to-market plan,” Gary Hoyer, CEO of Great River Entertainment said.

 


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: PointsBet Partners With Catfish Bend Casino in Iowa

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AMATIC Industries Reports Excellent FER in Madrid, Presents Roulette Grand Jeu

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8-16 AMATIC Industries Reports Excellent FER in Madrid, Presents Roulette Grand JeuReading Time: 1 minute

 

AMATIC Industries, an integrated supplier of premium gaming products, in collaboration with Comatel, has reported an excellent Fería International del Juego (FER) show in Madrid.

There was plenty to see as Comatel secured a large stand to house the AMATIC solutions. AMATIC Industries presented the latest Roulette Grand Jeu with the stylish, brand new Corona II overhead design that incorporates a large screen that can be viewed from both sides. This is an excellent way to portray the GO FOR GOLD bonus game which has been created especially for the Spanish market. Another highlight at the FER was the introduction of a further bonus game called LET’S PARTY.

Leopold Öller, Director at AMATIC Industries, summed up the response from the FER, stating, “It was a great opportunity to see our valued customers in Spain. Thanks to our unique partnership with Comatel our games have become extremely popular throughout the country. We are always focusing on bringing new innovations to strengthen our position here. We were able to do this in all areas – with our Corona II on the Roulette Grand Jeu, our new Amarox C24 Nero and new games for our Multiliner as well as the focus on our Landscape solution. We were very pleased with the response.”

 


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: AMATIC Industries Reports Excellent FER in Madrid, Presents Roulette Grand Jeu

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Delaware North Sues Miomni Gaming Over Fraudulent Claims

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7-16 Delaware North Sues Miomni Gaming Over Fraudulent ClaimsReading Time: 1 minute

 

Delaware North, the US based casino operator, has filed a lawsuit against its sports betting joint venture partner Miomni Gaming.

The operator is seeking monetary damages through the suit filed in the Chancery Court of Delaware, including Miomni’s 49% stake in the BetLucky joint venture, which the supplier is apparently refusing to give up. The joint venture was made to launch the BetLucky sports betting platform. Delaware North then terminated the contract earlier this month.

The operator claims Miomni made fraudulent claims to induce it to enter into a joint venture, as well as of wilfully breaching a limited liability company agreement governing the operation of BetLucky.

Delaware North claims that Miomni and chief executive Venner repeatedly claimed to own intellectual property rights to the platform, including the source code for the front end and back end of the platform.

 


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Delaware North Sues Miomni Gaming Over Fraudulent Claims

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