Mecca Bingo Owner Completes Acquisition of Stride Gaming

Gambling operator, Rank Group, more commonly known as the owner of Mecca Bingo and Grosvenor Casino has passed the final hurdle in their takeover bid for Stride Gaming. In May this year, the FTSE-250 listed Rank proposed the sum of £1.51p per share offer for Stride Gaming, which would value the iGaming company at £115.3 million.

Last month the buy-out had been approved by the UK Gambling Commission (UKGC), but there was one final regulatory hurdle set before both operators and this was to be held at the Royal Court of Jersey on October 2nd, which they passed with flying colours.

Given the Green Light:

Speaking prior to the signed deal, Rank Group CEO, John O’Reilly said: “We have long been impressed with the quality of the Stride management, technology and operations, which, we believe, offer significant opportunities to create value when combined with the Rank brands, customer-base and infrastructure. The joining of our businesses will accelerate delivery of Rank’s Transformation Plan and create one of the UK’s leading online gaming businesses.”

News of the completed acquisition is now circulating and as a result, Stride Gaming PLC’s shares have been temporarily suspended and as of Monday, the company’s shares will be removed from trading on the AIM.

Big Potential:

Commenting on the done deal, John O’Reilly said: "Today marks a significant day for Rank. 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."

Rank is now the owner of Stride which means the entire portfolio is now under one roof. The all-cash purchase for assets was to include a handful of popular online bingo brands, including Kitty Bingo, Lucky Pants Bingo and Bingo Extra, plus many online casino portals too with many different casino games on offer; Lucky VIP, Regal Wins and Spin & Win – despite its name, they offer a live casino experience as well as one fun-filled bingo casino game

Any Change?

Will the deal have any effect on the brands? The good news is there’s no plans to overhaul any of the websites which means Mecca Bingo’s owner are likely to leave things as they are. The reason why the likes of Bingo Extra are so popular is the ease of use, the many different mobile bingo rooms and its user-friendly design. Promotions are always guaranteed to tempt players, whether that be a good old-fashioned game of free bingo or big guaranteed jackpot games.