Rank Purchases Stride Gaming

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This week Rank Group announced that they've completed their purchase of bingo group Stride Gaming, picking up the whole set of ordinary shares in the company.

The original bid was placed in May for £115.3 million, and the company paid out 151 pence per share for the company. A UK court approved of the purchase earlier this week, giving the go-ahead for the deal to be completed. Rank owns Mecca Bingo and Grosvenor, and the company thinks that they'll be able to have joint revenues of £185 million.

Commenting on the deal's completion Rank CEO 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."

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About the author

Therese Williams // UK Correspondent
Therese Williams
Therese is a fervent fan of slot machines and pub fruities, often trying her luck at some of the top online casinos. She covers news for Casino Listings with a focus on the UK and Europe. Therese studied arts and creative writing at university and has written for newspapers in the UK.