The Rank Group completed the acquisition of Stride Gaming for $159m.

The Rank Group, a gambling company based in the UK, completed its acquisition of Stride Gaming, an international gaming company, for $159m. "Despite Stride's strong market position, ownership of its own leading technology and excellent long term growth potential, the Board recognises the scale of the mounting regulatory and fiscal pressures which the UK gaming sector is facing. It is also concerned that investor sentiment to Stride is likely to continue to be negatively impacted by these external pressures for some time. Following the announcement of Stride's strategic review in February 2019, Stride had approaches from a number of parties, in addition to Rank. After extensive discussions, the Board concluded that a combination with Rank has significant strategic logic and its offer of 151p per share represents fair value for Stride shareholders in the current environment. Accordingly the Board of Stride is unanimously recommending Stride Shareholders to vote in favour of the Offer," Nigel Payne, Stride Chairman.