Stride Gaming to pay “significant” Gambling Commission penalty

Stride Gaming is likely to have to pay a “significant financial penalty” to the UK Gambling Commission, the bingo-led operator announced today.

The company did not give specific details about its transgressions, only to say the penalty followed a “review of the manner in which it has historically carried on its licensed activities”.

Stride said payment of a fine was “not final”, but the firm’s stock dipped 35% on the AIM stock exchange following the news.

In a statement to the market, Stride said: “The company is taking advice as to its options from its advisers, which include making representations to the UKGC about the proposed financial penalty and, if need be, appealing the ultimate decision of the UKGC and/or the size of any penalty.”

Both Stride and the Gambling Commission declined further comment.

Stride said earlier this year it was pivoting away from the UK to focus on international expansion, a move which some at the time suggested was related to compliance issues.

It currently operates over 100 bingo brands, which can cause issues if customers self-exclude from one site but continue to get marketing emails for others.