Stran Promotional Solutions, PPAI 100’s No. 20 distributor, has announced an anticipated $83 million in revenue for 2024.
- This is a 9.3% increase from the $76 million made in 2023.
- The Quincy, Massachusetts-based distributor also expects $27 million in revenue for the fourth quarter of 2024, which is up 17.8% from 2023’s fourth quarter revenue.
Though these are just preliminary results, Stran also expects to report that it had approximately $18 million in cash equivalents and investments and no long-term debt as of December 31, 2024.
“We’re pleased to report another strong quarter and full year of revenue growth, reflecting the successful execution of our expansion strategy, including the ongoing integration of the assets of Gander Group,” says Andy Shape, president and CEO of Stran.
Andy Shape
CEO, Stran Promotional Solutions
“With our enhanced capabilities and expanded customer base in the gaming, casino and entertainment sectors, we continue to identify new cross-selling opportunities and drive operational efficiencies. Looking ahead, we remain optimistic about our long-term growth prospects and will continue to invest in strategic initiatives to maximize value for our shareholders.”
Gander Group Acquisition
Stran made a signification investment into the casino and gaming industry when it acquired Gander Group, a company that focuses on casino continuity and loyalty programs, in August. Shape previously said he believes the acquisition would contribute to a projected annual revenue of more than $100 million.
As a result, Stran formed Stran Loyalty Solutions, a casino continuity and loyalty group that will operate Gander Group. Gander Group founder and CEO Josh Blake and COO Bruce Batcheller stayed on to the newly formed Stran Loyalty Solutions to support the venture.