Stride Gaming broadly in line with expectations

Stride Gaming’s non-executive chairman, Nigel Payne, will brief on the company’s performance at its upcoming annual general meeting.

Payne said company trading was broadly in line with Board expectations despite challenging conditions.

“The Board remains confident in Stride’s ability to manage ongoing fiscal and regulatory market pressures and leverage its unique infrastructure to capitalise on significant growth opportunities in the dynamic UK market.

“The Group has a clear focus on winning and retaining mass market, recreational customers onto its bingo and casino sites.

“Cost control and efficiencies remain a core focus area for the Group. Stride continues to leverage its infrastructure and proprietary technology to migrate more customers onto 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.”

The Board has proposed a special dividend of approximately 8.0p per share relating to the earn-out of the QSB Gaming transaction, which is expected to complete by the end of May, with the dividend being paid in June 2019.

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