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Stride Gaming says it could be sold as strategic review is launched

Investec has been hired to advise on the process, and, under stock market rules Stride can now be considered to be in an offer period
for sale sign
Aggressive organic expansion and/or acquisitions are alternative possibilities

Stride Gaming PLC (LON:STR) is reviewing all strategic options, it said as it responded to recent media reports.

Specifically, the company clarified that it was fined by the UK Gambling Commission once during 2018, not twice as implied in reports.

It is now reviewing its options, which include taking a more aggressive organic expansion strategy, expanding through acquisition or a potential sale of the company.

READ: Stride fined £7.1mln by UK gambling commission

Investec has been hired to assist with the review. The company expects to report back to investors ahead of reporting its interim results statement, for the six months that will end on 28 February.

Stride will now be considered to be in an offer period under stock market rules.

“The board reserves the right to alter or terminate the review process at any time and if it does so it will make an announcement as appropriate,” Stride said.

It added: “The board also reserves the right to reject any approach or terminate discussions with any interested party at any time.”

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