Source - SMW
Stride Gaming has swung to an H1 pretax loss, due in part to a £10.2m impairment, and at the same time boosted its interim dividend by 9%.

The company posted a pretax loss of £11.1m, from a profit of £228,000. The results included the impairment, plus rises in contingent remumeration and amortisation of intangible assets.

It said the impairment was recognised in the period in light of the weaker outlook of the Social Gaming vertical.

Revenue was £44.0m, up from £21.6m. Interim dividend was 1.2p a share, from 1.1p.

Non-executive chairman Nigel Payne said current trading was strong and the board was confident of meeting its expectations for the full year. 

"Our strategy for the remainder of the year and beyond is focused on growing the Real Money Gaming vertical. 

"This will be supported through further integration and development of 8Ball, Netboost Media and the Tarco Assets; more investment in key platforms and brands; strengthening our product offering and driving improvements in customer monetisation," he said.

"With our strong position in the UK online bingo sector, we feel the market remains highly attractive for us and we remain committed to increasing our market share. 

"Further regulatory pressures as a result of changes to the Point of Consumption Tax (POCT), which at the earliest will come into effect in August 2017, will continue to adversely impact our competitors. 

"This presents further opportunities for Stride Gaming to gain market share from a position of strength built around our scale, multi-brand offering, an in-house proprietary platform and the underlying robustness of our Real Money Gaming vertical. 

"Whilst our principal focus will be on driving organic growth, we will continue to consider attractive, complementary and earning enhancing acquisitions in the Real Money Gaming space."