Stride Gaming plc (AIM: STR), a leading online gaming operator, will hold its Annual General Meeting (“AGM”) at 9.30am today. At the AGM, Nigel Payne, the Company’s Non-Executive Chairman, will make the following statement:
“The Group’s trading performance since the start of the financial year has been broadly in line with the Board’s expectations despite the continued challenging trading 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. In addition, the Board has proposed a special dividend of approximately 8.0p per share relating to the earn-out of the QSB Gaming transaction. The transaction is expected to complete by the end of May, with the dividend being paid in June.”
