Tag Archives: Stride Gaming

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 fine for social responsibility and anti-money laundering failures at subsidiary Daub Alderney. The regulator is adamant  that gambling operators will face the full consequences of regulatory failures, even if breaches occurred prior to ownership, however Rank believes that there are both equity and public policy …

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Rank reorganises digital leadership to lead unit turnaround

Rank Group Plc has confirmed the promotion of Eitan Boyd to the leadership position of Group Chief Innovation Officer (CIO). Boyd is the former Chief Executive of Stride Gaming, the multi-brand igaming operator acquired by Rank in 2019 for £120 million. The promotion was disclosed by Rank governance updating investors on the LSE group’s digital progress, in which Rank stated …

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Rank prioritises safe venue return as lockdown drains group performance   

Rank Group Plc has revealed that trading under lockdown conditions for its most recent quarterly reporting period has resulted in a 72% fall in group like-for-like revenues. This morning, the LSE gambling group published a Q3 2020/2021 trading and corporate liquidity update for the period ending 31 March, which stated that its Grosvenor and Mecca venue net revenues performance had …

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Rank Group records £42m interim loss as Covid drains venue performance

Rank Group Plc has reaffirmed its confidence in being able to navigate the continued challenges that the COVID-19 pandemic has placed on its business. Publishing its H1 2020/2021 interim results for the six months ending 31 December 2020, Rank has recorded underlying group-wide losses of £42 million – representing a 171% swing on 2019/2020 profits of £59 million.  As previously …

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Rank completes phase one of Stride migrations

Rank Group Plc has migrated ‘Bella Casino’ onto its proprietary operating platform, thereby completing the first stage of the technology integration of its acquired Stride Gaming assets.  The LSE gambling group underlined progress on the key technology directive of merging Stride Gaming’s multi-brand UK online casino and bingo portfolio with its proprietary systems to expand its ‘Rank Interactive’ business unit.    …

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Rank pleased with Grosvenor progress as critical Stride integration begins

Rank Group Plc has detailed further progress for the firm’s transformation objectives and confidence in future prospects, as the London listed gambling group publishes its latest trading update for the quarter ending 30 September 2019. Rank records a 10% increase in group like-for-like net gaming revenues (NGR), detailing strong continued growth across its digital channel up 16% NGR. Maintaining its digital …

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Rank finalises Stride Gaming takeover

London-listed gambling operator The Rank Group (Rank) has confirmed this morning that it has successfully completed its take over of online gambling group Stride Gaming. Confirmed in a statement, Rank will now hold the entire issued ordinary share capital of Stride, which was valued at £115.3m in May of this year. John O’Reilly, Rank Chief Executive, commented on the announcement: …

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Rank clears UKGC hurdle in takeover of Stride Gaming

Closing trading on Friday 20 September, the governance of London Stock Exchange-listed Rank Group Plc sanctioned a formal update on the firm’s acquisition of London AIM-listed Stride Gaming Plc. Updating deal stakeholders, Rank governance confirms that its shareholder approved £115 million acquisition of Stride Gaming has met the requisites of the UK Gambling Commission (UKGC). In November 2018, Daub Alderney …

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Rank Group pursues Stride Gaming for £115 million

The governance of Rank Group Plc has this morning confirmed that it has entered ‘advanced discussions’ to acquire London AIM-listed online gambling group Stride Gaming Plc. Rank the operating company of Mecca Bingo and Grosvenor Casinos, has tabled a ‘28% premium’ offer on Stride’s share price, putting forward to investors an all-cash ‘151 pence per share’ purchase price to acquire …

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Stride Gaming revenue capacity impacted by ‘regulatory changes’

The governance of London AIM-listed Stride Gaming has this morning disclosed that corporate net-gaming revenues for the ‘six-month period up to 28 February’ will be 5% lower than expected. Updating investors, Stride governance details that the firm’s revenue capacity has been disrupted by ‘fiscal and regulatory changes implemented in the second half of the calendar year 2018.’ In its update, …

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