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Streaks Gaming to float on London Stock Exchange in £10mln valuation

Stock Markets Sep 26, 2022 13:40
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© Reuters Streaks Gaming to float on London Stock Exchange in £10mln valuation
 
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Streaks Gaming PLC said it plans to list on the London Stock Exchange’s (LSE) main market this autumn, with an expected valuation of £10.2mln.

A UK-based provider of conventional gaming products, it would be the first LSE-listed “pure-play” conversational gaming company.

Streaks will apply for a standard listing and raise between £5mln and £10mln via an initial public offering (IPO) for ordinary shares, which will include a retail sale.

Net proceeds from the IPO will be used for the development and marketing of casual games, with the main focus being on the American market.

Streaks Gaming said it wants to be the “conversational gambling” partner for licensed US sportsbook operators, allowing them to increase engagement, monetisation and acquire new users.

Mark Rutledge, chief executive, added: “In the US, sports betting has seen huge growth over the past few years.

“Listing on the London Stock Market will give us the visibility, credibility and access to global capital we need to propel our growth.”

The global sports betting market is expected to grow by US$144bn by 2026, largely driven by the ongoing legalisation all over the world, particularly in America.

Younger betters are to be shown gambling via casual conversational games that use natural processing models, according to Share Talk.

Streaks Gaming's proprietary conversational gaming platform was launched in 2021 and had 80,000 registered users by May 2022, said the company.

Read more on Proactive Investors UK

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Streaks Gaming to float on London Stock Exchange in £10mln valuation
 

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