Stride gaming managed to hit the jackpot with their recent acquisitions as well as their strong organic growth. This obviously added to their revenue growth at the end of the year results. So the bingo organisation will be looking for more acquisitions during 2017.
The group’s net revenue increased by 22% up to £47.8 million, but the profits before the taxes fell from £360,000 to £131,000 in comparison to last year. The return to player went up with approximately 7% to £120, which reflected on the improvements in user monetization and engagement.
You are probably wondering why this is interesting, well if we follow this year’s acquisitions, Stride Gaming had an approximately 10% share of the entire United Kingdom Bingo market, which is up from 5% in 2015. So they are on their way to becoming the 4th largest online bingo operator in the United Kingdom.
Moreover, the leading online bingo group currently has a material scale, a significant market share, and a strong operations leverage which give it a strong platform for growth.
The bingo operator uses its personal purchased proprietary software. The current Chief Executive Eitan Boyd stated that Stride Gaming is aiming to focus on its own content going forward, which slashes the costs and increases the return to player ratio.
Nigel Payne, who is a non-executive chairman of the company added that they believe that they have never been in a better position to exploit the opportunities that currently exist in the market and to deliver value to the shareholders. They are also looking to the future with confidence and excitement.