Bingo: Stride Gaming has full house after £70m takeover of Tarco Assets and 8ball

Francesca Washtell
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Stride has hit the jackpot with these acquisitions (Source: Getty)

Stride Gaming has become the fourth largest bingo operator in the UK market after completing the £70.2m acquisition of two smaller gaming groups.

The Aim-listed group has a full house after the takeover of Tarco Assets and Netboost Media, and 8ball Games Limited, which was first announced in late July.

The move has increased Stride's market share of the UK bingo sector from five per cent to 10 per cent and has expanded its multi-branded offerings by 96 brands to 105 bingo brands.

Read more: Stride Gaming investors hit bingo as firm declares first dividend

It has also increased its share of the online bingo landscape from two per cent to 25 per cent based on the number of bingo sites and makes Stride the largest gaming operator in the UK to have its own proprietary software.

Tarco's brands include Moon Bingo and Robin Hood Bingo, while the group has more than 63,000 active players.

Online bingo operator 8ball has more than 60,000 active players and 74 sites, including Booty Bingo and WeWantBingo.

Read more: Stride Gaming to raise £10m in market float

Stride's chief executive Eitan Boyd said: "As many operators in the gambling sector continue to struggle in the face of renewed pressure from higher taxes and increased regulation, we in contrast are in a stronger position than ever to realise value and deliver synergies from these acquisitions.

"To this end, we remain focused on building Stride Gaming into the market leader in the soft gaming vertical of the online gaming industry. We will continue to eye opportunities to undertake further acquisitions whilst maintaining our robust organic growth."