Stride Gaming is considering a sale of the business as one of various strategic options for the company. The company was floated in May 2015 at a price of 132p and moved to a high of 300p before the UK Gambling Commission (UKGC) intervened imposing fines of £7.1m for failures in AML and social responsibility.
At the time UKGC executive director Richard Watson said Stride’s fines were “part of an ongoing investigation into the online casino sector. The operator’s standards did not match the protections required, and this fine reflects the seriousness of these lapses.”
On 13 February 2019 its shares were down by around 50% over the last year. The move underlines just how serious the Gambling Commission is at imposing heavy fines to the point where a gambling company may find itself being put up for sale.