Stride Gaming could be sold as strategic review is launched
Stride Gaming has confirmed that it is undertaking a strategic review of the business to maximise shareholder value, including a potential sale of the company.
The online bingo and casino games operator also clarified that it was fined once by the Gambling Commission in 2018, as announced in November 2018, and not twice as reported in the press.
Under the strategic review, the company is looking to undertake a more aggressive UK and international organic expansion, expand operations through acquisitions, and potential industry consolidation through the sale of the company.
Stride Gaming said that it is not currently considering any offer for the company and there can be no certainty over a deal.
“The board remains confident in Stride’s ability to manage ongoing fiscal and regulatory market pressures and leverage its unique infrastructure to capitalise on significant growth opportunities in the dynamic UK market,” the company said.
Stride Gaming also said it remains committed to its revised dividend policy to distribute at least 50% of adjusted net earnings in dividends. It expects to release results of the strategic review ahead of its interim results.
The company has appointed Investec as its financial adviser to assist it with the strategic review.