Online gambling operator Stride Gaming plc announced its preliminary financial results for the full-year ended August 31, 2015. Net gaming revenue amounted to £27.8 million, up 227% year-on-year from £8.5 million posted for the same period a year ago.
The considerable increase was attributed to the purchase of the Table Top Entertainment brands last September as well as to strong organic growth that could be seen in the level of player activity.
Revenue from mobile and touch accounted for 48.9% of overall net gaming revenue. In comparison, turnover from that particular segment accounted for 19.7% of the overall figure posted for the previous fiscal year.
Adjusted EBITDA amounted to £7.3 million for the twelve months ended August 31, up 508% year-on-year. Adjusted profit before tax increased 388% to reach £3.8 million. Profit after tax totaled £0.4 million compared to £0.8 million posted for the same period a year ago.
Gross assets were up 740% to £48.7 million compared to the £5.8 million reported for the previous financial year. Real money gaming yield per player amounted to £112, up 14.3% year-on-year.
The number of funded players increased 278% to reach 52,000. In comparison, there were 13,750 registered funded players last year. Generally speaking, those are active gambling customers who have made deposits with their own funds within the last quarter.
As mentioned above, the company reported a significant organic growth in the previous fiscal year mainly due to three important acquisitions. First, it purchased mobile social gaming company InfiApps Limited for the amount of $40 million.
Next, it acquired Table Top Entertainment Limited, its brands King Jackpot, Jackpot Liner, and Jackpot Café, and the Nextec Software Inc. propriety gaming platform for the total amount of £14.7 million. Last but not least, Stride Gaming bought Spacebar Media for the total consideration of £6 million.
During the past fiscal year, the online gaming operator launched three new brands – Big Top Casino, Bingo Extra, and Magical Vegas. It was also granted an Italian gaming license and acquired a stake in a Spanish slots business. What is more, the company saw 39 games integrated into its gaming platforms.
Commenting on Stride Gaming’s full-year results, Nigel Payne, Non-Executive Chairman of the operator, said that they are delighted with its performance over the twelve months ended August 31. Mr. Payne called the past fiscal year an exceptional one for the online gaming company and described the reported results as outstanding.
