The entire UK gaming sector has been stung by recent regulatory changes and, like other operators, Stride’s strategy is to diversify its UK-centric model into international markets. In the UK, the company is gaining market share, with H118 adjusted revenues increasing 14% to £44.9m, driven by 25% growth in the proprietary platform. However, we have lowered our total FY18 and FY19 EBITDA forecasts by 16.6% and 28.7% to reflect increased costs associated with regulatory compliance and international expansion. The stock has fallen 18% year to date and trades at 8.3x EV/EBITDA and 13.4x P/E for CY18e.
23 May 2018
Stride Gaming - Looking beyond the UK


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Stride Gaming - Looking beyond the UK
Stride Gaming (STR:LON) | 0 0 (-0.9%) | Mkt Cap: 146.2m
- Published:
23 May 2018 -
Author:
Victoria Pease -
Pages:
7 -
The entire UK gaming sector has been stung by recent regulatory changes and, like other operators, Stride’s strategy is to diversify its UK-centric model into international markets. In the UK, the company is gaining market share, with H118 adjusted revenues increasing 14% to £44.9m, driven by 25% growth in the proprietary platform. However, we have lowered our total FY18 and FY19 EBITDA forecasts by 16.6% and 28.7% to reflect increased costs associated with regulatory compliance and international expansion. The stock has fallen 18% year to date and trades at 8.3x EV/EBITDA and 13.4x P/E for CY18e.