Gaming Realms hails ‘robust’ first-quarter performance

Finance News

Gaming Realms the developer and licensor of mobile-focused gaming content, announces a pre-close trading update for the half year to 30 June 2023 (“H1’23” or “the Period”).

The company is pleased to confirm that it expects to report H1’23 revenue of c.£11.4 million and adjusted EBITDA* of c.£4.6 million, up 34% and 32% respectively, year-on-year. This strong performance was driven by the continued growth of the Group’s licensing business, which consolidated its market share by going live with 25 new partners and launching 5 new Slingo games.

In North America, highlights included the launch of the Slingo Originals portfolio with Betway, OLG (Provincial Lottery) and LeoVegas in Ontario, Pokerstars in New Jersey and Stardust Casino in Pennsylvania.

In Europe, Slingo went live with Bet365 in the UK, 888 in Romania and Spain, Betflag in Italy and Betsson and Mr Green Casino in Denmark.  The Company was also granted its Swedish Gaming Authority licence, allowing Gaming Realms to continue to supply its games to the Swedish market.

Early in the year, Gaming Realms secured brand licensing agreements for two internationally renowned games: Tetris and TAITO’s SPACE INVADERS, expected to launch in the fourth quarter of this year. Gaming Realms also signed a licensing deal with Entain to launch Slingo Bingo. The game was developed in-house by Entain exclusively for UK customers and went live with Entain Bingo Products in May 2023.

This strong momentum in the Period gives the Board confidence that the Company is on track to meet its full-year targets.

The Company expects to report its 2023 Interim Results during the week commencing 11 September 2023.

Mark Segal, Chief Executive Officer of Gaming Realms, commented: “We are delighted to report strong performance in the first half of 2023, demonstrating our ability to deliver consistent growth from our ever-expanding games portfolio across existing and new markets.

“As we advance into the second half of 2023, we believe the momentum will continue, backed by our strong commercial pipeline, and that we will meet our full year targets.”