Rank Group finalises acquisition

Rank Group has revealed that the acquisition of online casino company Stride Gaming has been finalised.

UK.- Rank Group is now the sole owner of the issued ordinary share capital of Stride Gaming. The UK-based company announced the news on Friday. The intention to acquire the company was first unveiled in May for approximately €130 million.

As of today at 7 am, the admission to the trading of shares from Stride on AIM are not available. Shareholders will receive at 6 pm 151 pence in cash for each share they had. Consideration will be sent to later than October 18, the company said.

The shareholders from Stride Gaming had approved the acquisition back in July, while the UK Gambling Commission (UK) gave the operation the green light last month. This acquisition creates a business that generates revenues of approximately €200 million from digital gaming.

“Today marks a significant day for Rank,” Rank Group’s chief executive John O’Reilly said. “This acquisition delivers a proprietary technology platform and highly experienced team which will accelerate the transformation of Rank and create one of the UK’s leading online gaming businesses.

“Our focus now turns to ensuring we successfully integrate Stride into Rank and realise the potential of our new enlarged digital business.”