Proactive Investors - Run By Investors For Investors

Stride Gaming’s Eitan Boyd emphasises acquisitions were always part of plan

Stride Gaming PLC (LON:STR) chief executive Eitan Boyd has emphasised that acquisitions have always been part of the plan.

The online bingo operator, which came to AIM last May, today announced deals that see it increase its share of the UK bingo market by 50%. It is buying assets and brands from Tarco Limited for up to £40.2mln and is paying £30mln for 8Ball Games Limited.

A £27mln share placing, priced at 225p, is expected to support these deals.

Boyd, in an interview with Proactive Investors, dismissed investor concerns about the group’s acquisitive approach.

“We did come to the market with the attention to grow not only organically but by acquisition and use the scale, expertise and software know-how to increase the margins,” he said.

“You have to be a big player today.”

Meet West Wits Mining Limited, Global Energy Ventures Ltd, XTEK Ltd and ShareRoot Ltd at our event, Melbourne , 04 June 2019. Register here »
View full STR profile View Profile

Stride Gaming PLC Timeline

CN Research
December 04 2017
November 28 2016

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use