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Rank Group Offers £114.5m for Stride Gaming

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6 years ago

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The Rank Group has confirmed that they are in advanced discussions over a cash offer of £114.5m for the online operator Stride Gaming. Stride had announced earlier that they were examining the possibilities of a sale amid a difficult business environment.

Stride has announced its interim results for the half-year period ended February 28, 2019.

Net gaming revenue was down 13% to £39.03m, adjusted EBITDA fell by 23% to £6.16m and adjusted net earnings dropped 29.3% to £5.23m. Profit after tax and discontinued operations were up 19.1% to £1.75m.

“The group has delivered a resilient performance in the first half of the year despite challenging trading conditions, reflecting the strength of our proprietary technology, as well as the skill and commitment of our team,” Eitan Boyd, CEO of Stride Gaming said.

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