Bingo on the march with Stride Gaming

EitanBoydUK-facing bingo brands Moon Bingo and Robin Hood bingo helped push revenues up substantially at Stride Gaming which bought the sites as part of an acquisition in the summer.

The two brands came with the Tarco assets bought alongside Netboost media and 8Ball for a combined £70 million in July. The acquisitions contributed to the 22 percent rise in net gaming revenue to £47.8 million while adjusted EBITDA was up 27 percent to £12.3 million.

Commenting on the results, chief executive Eitan Boyd said: “With 105 brands and 10% market share of the UK online bingo market following these acquisitions, Stride Gaming now has material scale, strong operational leverage and occupies a pre-eminent position in the soft gaming market.”

He added: “The business has never been in such a strong position to build on its excellent achievements of 2016. Our focus in 2016/17 will be on integrating these recent acquisitions, continuing our strong organic growth and examining entry into other soft gaming verticals.”

The company said the number of real-money players rose 37 percent to 71,220 while yield per player was up 7 percent to £120. It said this last figure reflected and improvement in engagement and player monetisation.

The company said it had particular success with its mobile operations. Gross gaming revenue through mobile and touch devices represented 52 percent of the group total versus 40 percent 2015.

The company also saw the successful integration of InfiApps, the mobile social gaming company acquired in July 2015. Average deposit size from InfiApps increased to $24.5 from $17 in 2015 and the daily average revenue per paying user (ARPU) increased to $35 from $28.5.

Check Also

Rank aiming to appeal UKGC’s £5.85m fine for Daub failures

The Gambling Commission is playing hardball with the Rank Group as it imposes a £5.85m …

Rank seeks new CFO following Floydd departure

Rank Group Plc has confirmed the resignation of Bill Floydd as Chief Financial Officer (CFO) …

Rank reorganises digital leadership to lead unit turnaround

Rank Group Plc has confirmed the promotion of Eitan Boyd to the leadership position of …