Stride Cites Regulatory, Fiscal Pressures In Rank Sale

"Mounting regulatory and fiscal pressures" in UK online casino and bingo games helped convince Stride Gaming it needed to sell itself to Rank Group, Stride's chairman has said.

Rank, the operator of Mecca Bingo, agreed to buy London-based Stride on Friday for £115m to beef up its digital presence and position itself for stronger growth.

But for Stride, the move to put itself up for sale in February and then agree to sell the company in May came as its home base of the UK grew ever more challenging.

Stride has a strong market position, owns its own software platforms and has excellent long-term potential, said chairman Nigel Payne.

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