The governing body, The UK Gambling Commission has approved the manoeuvre and business takeover of the Stride Gaming corporation for the cost of £115.3 million. Rank is already known for their operation and management of the mass gambling chains, Grosvenor casinos and Mecca Bingo, so this move should definitely be very promising for them. Prior to being signed and made official, Rank is officially waiting for the final hearing to take place with both gambling operators to meet within the court in aid of final preparations. For the trade to begin and take place successfully, the shares of the entity will need to be broken down and accounted for, in addition to a smooth transition and exchange between parties. They are essentially agreeing on each part of the company, piece by piece-with full acknowledgement.
In the early months of July, it was a vote of 96.43% by Stride that gave the good to go to progress with the deal. This deal was promised to increase Ranks authority in the gaming world as they will become owners and leaders of the slots, bingo and casino realm. Their taking of Spin and Win, Kitty Bingo, Bingo Extra and Lucky pants will definitely see to that’s for sure.
The move will see Rank, assimilating with Strides technology that will ensure them faster and cheaper rates to run their overall platform activity and performance, since they have reported to have a very flat year within sales prior June 2019. This move should definitely see Rank onwards and upwards within their profit margins.
What does this mean for Strides committed players?
The deal will have little change towards players gaming experience, as Rank do not wish to alter what has already seen great success-why change what already has a record of doing great right? Going down the years, Rank did say they would like to evolve on the technical aspects of the casinos, including possible changes to the platforms signature designs and themes, particularly in the slots sector arrangements. An example of a massive change that occurred within the gaming industry is the Dabber Bingo- they got revamped after the prolonged time of sticking to their signature theme. It definitely adds to the site, as change increased their player engagement and activity. Everyone wanted to take a look! More recently also, the Cozy game establishment, Sailor bingo, transferred to Dragon Fish software. This change and drastic measures are the reason to which changed their gaming platform forever! The style of play that now exists here is ranges and selections of promotions beyond imagining and did we forget to mention that you can also stop having to worry about wagering requirements? Yes! That’s right, this move definitely made headlines and we can understand why Rank is very optimistic about their progression and evolution within the gaming industry.
Rank definitely have a lot of game to pick up, with their disappointing profits that plummeted significantly this year. They reported their operating profits to go from £50.1 million down to £39 million from consecutive years June 2018-2019. Let’s hope this is the next move that will see big moves in the gaming industry.