The Rank Group Plc (LSE: RNK), a Maidenhead, Berkshire, UK-based company specializing in the regulated gaming segment of the entertainment market, completed the acquisition of Stride Gaming plc, a Jersey based online gaming operator.
The amount of the deal was £115.3m.
This acquisition aims to delivers a proprietary technology platform and an experienced team to accelerate the transformation of Rank and create one of the UK’s leading online gaming businesses. As said by Chief Executive Officer John O’Reilly, the company’s focus in now on integrating Stride into Rank and realize the potential of the new enlarged digital business.
Led by Stuart Eitan Boyd, Chief Executive Officer, Stride Gaming operates a multi-branded strategy, using a combination of proprietary and non-proprietary licensed software to provide online bingo games, casinos and slots. The company has a portfolio of over 150 brands, including the online bingo brands Kitty Bingo, Lucky Pants Bingo, Bingo Extra, Jackpot Café, Jackpot Liner and King Jackpot, together with the online casino brands Spin and Win, Magical Vegas and Big Top.
Led by CEO John O’Reilly, Rank operates several brands with the major ones being Grosvenor Casinos, Mecca Bingo, Enracha, among the others.
Mecca is an operator of bingo clubs, offering a selection of games from bingo to a wide range of slot games. The venues also offer food, drink and live entertainment.
Originating from Italy, Bingo was widely adopted in the UK and its popularity is now shifting from physical venues to online destinations. But bingo games are also taking place at non-conventional venues, including restaurants and clubs, with other activities added in the mix, such bingo quizzes, bingo dance-offs and more.
Grosvenor Casinos is the UK’s largest multi-channel casino operator offering a range of popular casino table games, including roulette, blackjack, baccarat and poker as well as electronic roulette and slot machine games. It also operates one unbranded casino in Belgium.
Casinos in Great Britain offer a variety of traditional games of chance in a regulated environment. Under the current legislation, the activities offered are: casino table games (including American roulette, blackjack, stud poker, punto, banco, sic-bo and dice); electronic games (predominantely electronic roulette), gaming machines and card room games (including player-to-player poker and mah-jong). In addition, casinos typically include licensed bars and restaurants.
Enracha is the company’s community-based gaming business for the Spanish market. The brand offers a range of popular community games like bingo as well as electronic roulette and slot machine games, sports betting and food, drink and live entertainment.
Great Britain is the largest of Rank’s markets, generating approximately 83% of Group revenue. The Group had a total of 144 venues in Great Britain as at 30 June 2019 and its online bingo and casino operations are licensed out of Alderney and the UK.