Business Model

Capitalising on a disrupted market

Stride Gaming has continued to solidify its position in its core UK bingo-led online gaming market. The Group is currently the third largest online operator in the UK bingo-led market with an 11% market share.

Stride Gaming continues to expand its multi‑brand strategy and today operates over 150 sites, equating to approximately one in four online bingo brands in the UK, whilst focusing on its core proprietary brands. The Group’s scale, technological edge and multi-brand strategy mean that it is very well positioned to continue to grow and take market share despite external industry pressures.

Online Gaming Market Review

  • UK remains the world's largest real money bingo market, with mobile continuing to drive growth
  • Stride operates over 150 sites, which is over 25% of the brands in the Bingo-led UK market
  • UK online casino market is three times larger than online bingo
  • Multi-brand strategy provides differentiated offering in slots segment both in B2C and B2B
  • UK is a highly regulated market, with high barriers to entry
  • Increased regulation presents opportunities given Stride's scale and proprietary technology advantage
  • Casino
  • Betting
  • Betting exchange
  • Bingo
  • Pool betting

Stride is the third largest online operator with a share of

11%

The estimated size of the total UK bingo and casino market

£2.8bn

Business model and strategy

Key strengths in a growing UK market

Well-established operator in the UK

Experienced and dedicated management team

Own proprietary platform supports agility, flexibility and profitability

Investment in improved compliance, responsibility tools and processes – committed to continuous improvement

Our vision is to be a leading online gaming company

1

Focus on the UK market to grow market share

2

Invest in our platform to improve user experience and maximise returns

3

Streamline the cost base and maximise efficiencies

4

Leverage technology and expertise to grow in related areas

Compliance with regulation

Investment in proprietary platform

  • Innovative content
  • Multi-brand
  • Diversification into new verticals
  • B2B
  • Entry into new markets
  • Integrated business intelligence
  • Highly scalable, robust payment processing and back office
  • Disaster recovery solutions
  • Cyber security
  • Fully compliant with regulation

Investment in our team

  • Competitive employee benefits
  • Increase in the level of resources that develop our proprietary platform
  • Appointed key positions in the Compliance team
  • Continued investment in working environment
  • Streamlined onboarding and employee communication
  • Corporate social responsibility events
  • Empowerment of team members
  • Internal and external training courses such as leadership training

Progress in our focus areas

Investment in compliance

Significant investment and improvement made to teams, tools and processes:
  • Appointed a Risk and Regulatory Compliance Committee
  • Appointed a Director of Compliance and MLRO and a deputy MLRO and increased staffing within the compliance team
  • Appointed a Fraud & Risk Training and QA Manager
  • Increased training hours across the Group
  • Implemented "early warning system" to flag potential responsible gambling issues
  • Implemented enhanced social responsibility alerts across platforms
  • Improved social responsibility policy including a specific provision for VIPs
  • Updated Anti-Money Laundering Policies, tools and processes including:
  • Lowering of financial thresholds
  • Improved consistency of alerts across platforms
  • Improved review of customer activity across platforms

Refining the multi-brand model

  • Majority of marketing, product development, business analytics and customer retention initiatives to be focused on top tier of brands
  • Single Customer View – ability to identify players and their gaming behaviour allowing Stride to maximise LTV and reduce "KYC" costs while enhancing responsible gaming controls
  • Introduction of umbrella brands to increase engagement and cross-sell across brands, removing need for outside marketing investment
  • Lower tier brands support SEO activities to further increase generic traffic and further reduce acquisition costs

Leveraging technology for further growth

Continuing to explore opportunities to leverage our technology platform and industry knowledge to achieve growth in related areas:

Stride Together

  • Partnership division has seen significant traction during the year
  • First joint venture with Aspers Casino performed ahead of expectations during the period
  • Actively seeking additional partners in the UK and globally

Exploring new markets and products

  • Seeking international growth opportunities over medium to long term
  • Actively engaged in acquiring licences in three European countries (Spain, Denmark and Sweden)
  • Passion Gaming performing in line with Board's expectations
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