Stride Gaming reports impressive growth.
The recently London-listed online bingo operator Stride Gaming achieved impressive growth, according to its half-year report for the period ended February 28 this year.
CEO Eitan Boyd reported that NGR came in at GBP 11.7 million – a significant 173 percent increase on the corresponding period in 2013-14, whilst EBITDA was recorded at GBP 3.6 million, and pre-tax profit of GBP 1.6 million was achieved – a marked improvement over the GBP 127,000 loss in the comparative period.
The company's assets have grown to GBP 32.6 million (previous: GBP 4.3 million)
Two new brands, Magical Vegas and Bingo Extra were launched during the reporting period and helped to boost overall performance.
Stride also acquired the Table Top proprietary gaming platform from Nextec Software, along with the media firm Spacebar Media.
Former Sportingbet chief and industry veteran Nigel Payne chairs the board at Stride, and said he was pleased and impressed with the company's performance.
"The organic growth of the business continues at a robust pace and current trading is strong and ahead of management’s expectations," he said. “I am optimistic about the group’s future potential and we believe that the outlook for Stride Gaming is exciting.”