6 February 2019
Stride Gaming plc
("Stride", the "Company", or the "Group")
Stride Gaming plc (AIM: STR), a leading online gaming operator, will hold its Annual General Meeting ("AGM") at 9.30am today. At the AGM, Nigel Payne, the Company's Non-Executive Chairman, will make the following statement:
"The Group's trading performance since the start of the financial year has been broadly in line with the Board's expectations despite the continued challenging trading conditions.
"The Board remains confident in Stride's ability to manage ongoing fiscal and regulatory market pressures and leverage its unique infrastructure to capitalise on significant growth opportunities in the dynamic UK market. The Group has a clear focus on winning and retaining mass market, recreational customers onto its bingo and casino sites.
"Cost control and efficiencies remain a core focus area for the Group. Stride continues to leverage its infrastructure and proprietary technology to migrate more customers onto 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. In addition, the Board has proposed a special dividend of approximately 8.0p per share relating to the earn-out of the QSB Gaming transaction. The transaction is expected to complete by the end of May, with the dividend being paid in June."
Stride Gaming plc
Eitan Boyd (Chief Executive Officer)
Ronen Kannor (Chief Financial Officer)
+44 (0) 20 7284 6080
Investec Bank plc (Nominated Adviser and Broker)
+44 (0) 20 7597 5970
Hudson Sandler (Financial PR)
+44 (0) 20 7796 4133
About Stride Gaming
Stride Gaming plc, listed on AIM, is a leading online gaming operator. The Company operates a multi-branded strategy, using a combination of its proprietary and licensed software to provide an online gaming offering.
Stride Gaming's real money offering is presently focused on the UK market, where it is licensed and only operates from the regulated jurisdictions of the UK and Alderney. With a diverse portfolio of more than 170 brands, Stride Gaming is the third largest online bingo operator in the UK and has over 25% share of the UK online bingo landscape.
Stride Gaming operates a partnership platform, Stride Together, through which the company licenses its proprietary platform to gaming operators, media partners and retailers in the UK and globally, enabling them to create an online presence for their customers and enabling Stride to penetrate new verticals both within UK markets and overseas territories.
Further information on the Group is available at: www.stridegaming.com.
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Quick facts: Stride Gaming PLC
Market Cap: £112.95 m
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