Stride Gaming to double UK market share with new acquisitions
AIM-listed firm acquires rival online bingo operators Tarco and 8Ball and marketing company Netboost Media for up to ?70m
Stride Gaming is set to double its market share of the UK bingo market after acquiring the assets of rival online bingo firms Tarco and 8Ball for up to ?70m.
The AIM-listed operator will pay a total consideration of up to ?40.2m for both Tarco and online marketing firm Netboost Media, in addition to a sum of up to ?30m for Booty Bingo-owner 8Ball.
The deals will see Stride Gaming increase its market share from 5% to 10% of the UK bingo market, according to the firm, making it the fourth largest online bingo operator in the country.
Chief executive Eitan Boyd (pictured) described today’s deals as “transformational” and said the operator was also looking to expand its presence into new markets and verticals in the future.
“Our strategy remains focused on building scale and profitability through strong organic growth and further target acquisitions, taking advantage of the consolidation opportunities in the industry,” Boyd said.
“We will h