Gaming Realms lauds first half performance 

Finance News

Gaming Realms has continued its growth through the first half of 2023, as the Company continues to execute on its core strategy of developing and licensing games globally to market-leading brands and operators delivering high margin revenues.

This Period has seen a record performance for the Group in terms of revenue and EBITDA, driven by our core content licensing business which has had 12 consecutive half years of growth.

This strong momentum is expected to continue into the second half of the year, given the Group is still entering new markets and releasing new games, having recently launched with Betclic in Portugal and having applied for a licence to supply its games to the South African market and to the Lottery in British Columbia.

The European market continues to be the largest contributor to content licensing revenues, having grown 38% in the Period when compared to the same period in 2022, launching 5 new Slingo games and adding 9 new partners.

Our revenues from North American content licensing have increased 37%, with the region accounting for 45% of content licensing revenue. New Jersey continues to be our leading market, but Pennsylvania and Michigan are growing strongly as we launch more games with new partners. As at 30 June 2023, we were live with 57 games in New Jersey across 20 partners, 18 games across 12 partners in Pennsylvania and 28 games across 12 partners in Michigan.

In total we have launched with 25 partners in H1 2023. This growth is supported by the launch of premium games, including Slingo Cleopatra and Slingo Money Train. With the upcoming launch of Slingo SPACE INVADERS and Tetris Slingo, we are confident of further growth for the remainder of the year and the Board remains comfortable with market expectations around FY23 financial performance.

Commenting on the first half performance, Mark Segal, Chief Executive Officer, said: “We have delivered a strong first half performance as we have grown our international licensing business with the launch of our innovative Slingo content to a growing number of partners and players.

“The Group has a strong pipeline of new business and the outlook for the Group remains positive. We are seeing growth in our existing partnerships coupled with new operator, product and market launches, which gives us great confidence in terms of the longer term prospects for the business.”