tride Gaming operates a multi-brand strategy that includes online bingo brands ‘Kitty Bingo’ and ‘Lucky Pants Bingo’ as well as online casino brands such as ‘Spin and Win’.
Payne, who serves as non-executive chairman, said the company is now keen to build on its success and take advantage of growing consolidation in the sector due to regulatory changes.
As part of its strategy to raise £10 million in cash, Stride Gaming has appointed Cantor Fitzgerald as nominated adviser and broker to the company.
“We feel this is an opportune moment for a scale bingo-led operator to come to AIM to capitalise on the opportunities afforded by the regulatory changes, which is forcing consolidation in the industry, to grow organically and through acquisition,” Payne said.
“Our business is profitable, established and run by a highly experienced and proven management team.
“Today’s news marks an important step in our aim to become the market leader in online bingo.
“We look forward to a successful future for the company and our goal is to deliver meaningful returns to our shareholders.”