Gaming Realms reports strong revenue growth

Finance News

Gaming Realms today announced a pre-close trading update for the full year to 31 December 2020.

The Company expects FY20 revenue and adjusted EBITDA will be £11.2m and c.£3.1m respectively.

This reflects a record month in December due to the Company’s content licensing business, which has continued to go from strength to strength. It grew by over 100% during FY20 – launching with 26 new partners, including Tier 1 operators DraftKings in the U.S., as well as Sky Betting and Gaming and PaddyPower Betfair in the UK and Europe.

The positive momentum reported above has continued into the start of FY21, with the Company recently announcing the launch of its Slingo content in Italy with both Goldbet and Sisal.

The development of the Group’s US strategy has continued into the current year, with the signing of a number of key contracts in the US, including a multi-state contract with BetMGM to provide content through a direct integration.

In addition, the Company has been granted a provisional supplier licence by the Michigan Gaming Control Board, which will allow all Slingo Originals content to be provided to Michigan’s licenced online casino operators. This licence, alongside the Company’s existing New Jersey licence, will further strengthen Gaming Realms’ US operations, where it is continuing with the application process for a licence in Pennsylvania.

Michael Buckley, Chairman, said: We are delighted with last year’s performance, which illustrates both the popularity of our games and our ability to licence multiple different partners. At the same time, we have taken a significant step forward to becoming a global platform business with multiple games, all of which is testament to our talented and motivated team. The combination of our excellent games portfolio, our existing distribution agreements with global partners and our strong pipeline of new partnerships, makes us optimistic about the significant opportunities ahead as we focus on our continued expansion and international growth.”