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Rank Group Offers £114.5m for Stride Gaming

George Miller
June 3, 2019
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Rank Group Offers £114.5m for Stride GamingReading Time: 1 minute

 

The Rank Group has confirmed that they are in advanced discussions over a cash offer of £114.5m for the online operator Stride Gaming. Stride had announced earlier that they were examining the possibilities of a sale amid a difficult business environment.

Stride has announced its interim results for the half-year period ended February 28, 2019.

Net gaming revenue was down 13% to £39.03m, adjusted EBITDA fell by 23% to £6.16m and adjusted net earnings dropped 29.3% to £5.23m. Profit after tax and discontinued operations were up 19.1% to £1.75m.

“The group has delivered a resilient performance in the first half of the year despite challenging trading conditions, reflecting the strength of our proprietary technology, as well as the skill and commitment of our team,” Eitan Boyd, CEO of Stride Gaming 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: Rank Group Offers £114.5m for Stride Gaming

George Miller

George Miller

George Miller began his career in content marketing before joining the HIPTHER team in 2016 as an Editor and Content Manager. His ability to distill complex regulatory data into newsworthy B2B content led to his appointment as Head of Content in 2017.…

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At the heart of the ever-evolving gaming and technology sectors lies EEGaming.org, a premier B2B platform and the definitive Intelligence Hub for industry leaders. As a flagship publication of HIPTHER, we bridge the gap between regional heritage and global innovation, redefining how the industry connects, informs, and inspires.

Expertise & Evolution – More Than Just News

Reaching a vast network of decision-makers, EEGaming.org goes beyond the headlines to deliver high-stakes intelligence and strategic foresight. From the intricacies of European regulations to the rapid evolution of global tech, we provide comprehensive coverage across the verticals that drive the industry:

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