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Stride Gaming looks for strategic buyers

Niji Narayan

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Stride Gaming looks for strategic buyers
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The UK-based Stride Gaming, which operates Kitty Bingo and Bingo Extra, has announced it is open for a potential sale as part of a strategic move to maximise the value for shareholders.

The company is looking forward to expand its operations through acquisitions and also whether Stride should seek to participate in “potential industry consolidation through a sale of the company.”

Greg Johnson, analyst at Shore Capital, said that he saw merit in a tie-up with Mecca Bingo owner Rank Group.

“We see significant merit in combining Stride’s gaming assets, including its proprietary platform, with Rank, effectively doubling its online revenues.”

“Including likely material synergies, a tie-up with Stride would leave Rank in a stronger position to meet ongoing regulatory headwinds, transform the earnings profile of the enlarged group, as well as being potentially materially accretive.”

AIM-listed Stride, which is valued at £78.5 million, was fined by the Gambling Commission last year for compliance failings.

The firm added on Monday: “The group has a clear focus on winning and retaining mass market recreational customers on to its bingo and casino sites.

“Stride continues to leverage its infrastructure and proprietary technology to migrate more customers on to the Group’s higher margin proprietary platform and drive cost synergies across the business.

“The board believes the group will continue to be highly cash generative and the board remains committed to its revised dividend policy to distribute at least 50% of adjusted net earnings in dividends.”

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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AMATIC Industries Reports Excellent FER in Madrid, Presents Roulette Grand Jeu

Niji Narayan

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AMATIC Industries Reports Excellent FER in Madrid, Presents Roulette Grand Jeu
Photo Source: amatic.com
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AMATIC Industries, an integrated supplier of premium gaming products, in collaboration with Comatel, has reported an excellent Fería International del Juego (FER) show in Madrid.

There was plenty to see as Comatel secured a large stand to house the AMATIC solutions. AMATIC Industries presented the latest Roulette Grand Jeu with the stylish, brand new Corona II overhead design that incorporates a large screen that can be viewed from both sides. This is an excellent way to portray the GO FOR GOLD bonus game which has been created especially for the Spanish market. Another highlight at the FER was the introduction of a further bonus game called LET’S PARTY.

Leopold Öller, Director at AMATIC Industries, summed up the response from the FER, stating, “It was a great opportunity to see our valued customers in Spain. Thanks to our unique partnership with Comatel our games have become extremely popular throughout the country. We are always focusing on bringing new innovations to strengthen our position here. We were able to do this in all areas – with our Corona II on the Roulette Grand Jeu, our new Amarox C24 Nero and new games for our Multiliner as well as the focus on our Landscape solution. We were very pleased with the response.”

 

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Angel Sets to Complete GPI Acquisition

Niji Narayan

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Angel Sets to Complete GPI Acquisition
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Angel Holdings Godo Kaisha is going to complete its acquisition of Gaming Partners International Corporation (GPI). GPI has already delivered a written communication to NASDAQ regarding the merging date.

Under the terms of the merger agreement with Angel, GPI stockholders will receive US$13.75 in cash per share in exchange for their shares. Upon completion of the deal, Angel will own 100% of GPI, making GPI a wholly-owned subsidiary of the company.

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Industry News

Galaxy Gaming and Caesars Entertainment UK Extend Partnership with Multi-Year Agreement

George Miller

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Galaxy Gaming and Caesars Entertainment UK Extend Partnership with Multi-Year Agreement
Photo Source: investopedia.com
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Galaxy Gaming, Inc. announced Caesars Entertainment EMEA agreed to a multi-year agreement with the organization. The agreement includes an integrated partnership including product and marketing support for all Galaxy Gaming proprietary table game titles at Caesars Entertainment EMEA properties as well as progressive systems.

“Galaxy Gaming is excited for the opportunity to continue working closely with Caesars EMEA in driving more players to their gaming facilities and contributing to the overall player experience,” said Todd Cravens, Galaxy’s CEO.  “Showcasing our table games at some of the most premier casinos around the country will be an honour.”

“We are delighted to work with Galaxy Gaming to bring new and innovative gaming experiences to our customers.  Customer appetite for new bonuses and variations on classic games is increasing and we pride ourselves on delivering the best gaming environments in the UK.” Peter Turpin, Group Operations Director Caesars Entertainment EMEA.

About Galaxy Gaming:
Headquartered in Las Vegas, Nevada, Galaxy Gaming, Inc. (galaxygaming.com) develops, manufactures and distributes innovative proprietary table games, state-of-the-art electronic wagering platforms and enhanced bonusing systems to land-based, riverboat, cruise ships and online casinos worldwide.  Through its iGaming partner Progressive Games Marketing Ltd., Galaxy Gaming licenses its proprietary table games to the online gaming industry

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