Online soft gaming operator Stride Gaming today reported its financial results for the financial year ended August 31, 2016. Net gaming revenue increased 22% year-on-year to reach £47.8 million during the period in review.
The company noted the increase in mobile revenue as an important operational highlight for the reported twelve months. Stride Gaming’s report showed that net gaming revenue from mobile operations accounted for a little more than a half of the total. In comparison, proceeds from gaming operations for hand-held devices represented 40.4% of the whole during the 2015 financial year.
Group adjusted EBITDA amounted to £12.3 million, up 27% year-on-year. Adjusted earnings increased 27% to a total of £10.9 million.
During the 2016 fiscal year, Stride Gaming completed the acquisition of three new businesses – online gambling operators 8Ball and Tarco, and affiliate marketing firm Netboost Media for a total consideration of £70.2 million, payable in cash and shares. The strategic transactions were closed on August 31, 2016.
Stride Gaming also integrated successfully mobile gaming company InfiApps into its own operations. The operator acquired said business in July 2015. Average deposit size from InfiApps rose to $24.5. Daily average revenue per player amounted to $35, up from $28.5 reported for the previous financial year.
It was during 2016 again when Stride Gaming introduced its Table Top brands as well as proprietary games onto the mobile gaming channel.
Commenting on the most recent report posted, the gambling operator’s CEO, Eitan Boyd, said that he was excited to be presenting such excellent results. The executive further noted that 2016 was particularly successful for his company as it managed to once again deliver strong organic growth and undertake strategic acquisitions.
As for their focus for the current fiscal year, Mr. Boyd said that it would be on the successful integration of the newly acquired brands, the expansion of their operations in other soft gaming verticals as well as on securing continued solid growth.
Stride Gaming currently operates around 100 bingo brands and holds a 10% share in the UK bingo market.
Encouraged by the success of the recent acquisitions, the company said that it would be exploring more transactions, provided that these hold potential for further improving earnings and delivering value to Stride Gaming shareholders.
