Stride Gaming eyes new verticals to boost growth
Operator says expansion into lotteries and scratchcards likely as part of strategy to become a multi-vertical soft gaming firm
AIM-listed operator Stride Gaming is aiming to expand into new verticals as part of the firm’s strategy to boost long-term growth and diversify away from bingo, eGaming Review has learned.
In an interview with EGR, Stride Gaming CEO Eitan Boyd (pictured) said he was looking to acquire businesses within other soft gaming verticals, including scratchcards and lotteries, after recently completing a number of successful acquisitions.
“We’ve got the social gaming vertical we can explore more both organically and by acquisitions but we also want to also complement that with other verticals that fit the ethos of Stride and are within our comfort zone of how to attract and monetise customers,” he said.
“We talk with other companies all the time, that doesn’t stop, and it’s not only bingo either. We are also looking at other verticals too, especially in the scratchcards and lottery space,” Boyd added.
However, Boyd did not comment on whether Stride Gaming was in advanced negotiations with any individual companies.
The operator has not shied away from completing acquisitions in the past and in July doubled its share of the UK bingo market after purchasing the assets of rival online bingo firms Tarco and 8Ball for up to £70m.
And according to Boyd, Stride will still keep a watchful eye on acquisition opportunities within the bingo space despite plans to diversify its product portfolio.
“We know that with the big boys out there it’s all casino and sports, so we’re hoping to become the bingo consolidator of choice and if people want to sell an asset in the bingo space we will be there,” he said.
Last year, Stride Gaming also expanded into the social gaming vertical following a £25m deal for mobile-focused firm InfiApps.