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Stride Gaming shares advance as it strikes first B2B joint venture

The announcement coincided with its launch of Stride Together - its new B2B division.
Stride Gaming shares advance as it strikes first B2B joint venture
The new B2B business will see the firm license its platform to gaming operators and retailers around the world, it said

Shares in Stride Gaming PLC (LON:STR) nudged higher as it struck a first business-to-business (B2B) joint venture with Aspers Group - one of the fastest growing gaming companies in the UK.

The announcement coincided with its launch of Stride Together - its new B2B division.

The new business will see the firm license its platform to gaming operators, media partners and retailers around the world, allowing them to start an online presence for customers.

Aspers Group has revenues of over £100mln

The Aspers Group has grown its annual revenue to over £100mln in short order. Since opening its first Casino in Newcastle in 2005, it now has three further casinos in Northampton, Milton Keynes and London, and has expansion plans in Bournemouth and Southampton.

The Stride deal will allow players to visit one of the casinos or play on a mobile or other digital device.

Stride eyeing pool of strategic partners..

Stride says its medium and long term goals for the B2B business are to have a pool of strategic partners leveraging off its proprietary platform.

"Stride Together will also target media groups and gaming operators seeking extra revenue streams through soft gaming content," it said.

"The company will tailor its product to meet its clients' brands to facilitate the uniqueness of the gaming experience both operationally and technically," it added.

Eitan Boyd, chief executive at Stride Gaming, said: "We will be highly selective with whom we partner with and will look to work with established gaming operators, media partners and retailers both in the UK and overseas.

"We are delighted to have launched our first Stride Together JV with Aspers. We see a great deal of value in their brand."

Shares added1.97% to 232.5p.

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Stride Gaming PLC Timeline

CN Research
December 04 2017
Article
November 28 2016

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