Stride Gaming reduced its losses to £5m for the period up to the end of August, with rising revenues offset by a UK Gambling Commission fine of £7.1m.
Revenues grew by 8.7 per cent to £89m, with losses down from 2017’s figure of £25.6m. There was a strong performance within the group’s proprietary platform, resulting in an increase of 23.8 per cent in real money gaming to £60.5m (FY 2017: £48.9m).
The firm proposed a final dividend per share of 1.7p per share, up 13.3 per cent, with a strong balance sheet containing net cash of £26.6m (FY 2017: £23.7m).
The board stated that it intends to return the anticipated £6m generated by the sale of Spanish operator QSB Gaming through a special dividend of 8p per share in the spring or early summer of 2019.
Eitan Boyd, CEO of Stride Gaming, said: "Since the start of the current financial year, trading has been satisfactory and in line with our expectations after having absorbed further fiscal and regulatory costs to reflect the changed trading environment our industry is required to operate within. We have and will continue to adjust and right-size our cost base to mitigate these pressures.
"Looking further ahead, the board is confident in the quality, flexibility, efficiency and robustness of the Group's operating model and ability to continue to grow in both relative and absolute terms despite the trading environment.”
