StockMarketWire.com - Online gambling group Stride Gaming downgraded its sales guidance, blaming 'fiscal and regulatory changes' implemented in the second half of calendar 2018.

Net gaming revenue for the six months through February was now anticipated to be around 5% lower than expected, the company said.

'Positively, the board sees encouraging signs that the impact of these disruptive factors have now been largely absorbed and the business model is adjusting accordingly,' it added.

Stride Gaming said it expected to report a 'strong performance' from its business-to-business joint venture and was encouraged by additional new joint venture opportunities.

It also said it had increased spending at its Passion Gaming division as a result of encouraging growth trends in its Indian Rummy business.

As a result, it expected to report incremental costs of around £400k for that part of the company.




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