Gaming Realms first half beats expectations
Gaming Realms has announced it has continued to trade ahead of market expectations, with revenue growth helped by the impact of COVID-19.
In a trading update, it reported revenues of £5m in the first half of 2020, up from £3.1m a year earlier, while the company said adjusted EBITDA was approximately £1.2m in the period, compared to a first-half loss in 2019 of £0.1m.
The company attributed its performance to the expansion of its partners internationally and the release of new ‘Slingo’ games which have seen increased uptake.
Gaming Realms said that while the revenue growth in the period was helped by the impact of COVID-19, trading during the seven weeks following the period end, which were post-lockdown, have maintained similar levels.
The board expects revenue and EBITDA for the full year to 31 December 2020 to be ‘materially ahead’ of current market expectations.