30 July
2024
Gaming Realms
Plc
("Gaming Realms",
the "Company" or the "Group")
Pre-Close Trading
Update
H1 2024 Revenue and EBITDA
growth of 18% and 21% respectively, driven by growth in content
licensing and market expansion
Gaming Realms plc (AIM: GMR), the
developer and licensor of mobile-focused gaming content, announces
a pre-close trading update for the half-year ending 30 June 2024
("H1 2024" or "the Period").
The Company is pleased to report
expected H1 2024 revenue of approximately £13.5 million and
adjusted EBITDA* of approximately £5.8 million, reflecting
year-on-year increases of 18% and 21%, respectively. Excluding
brand licensing from the first half numbers, where there was a
£600,000 one-off item in H1 2023, the adjusted EBITDA* for H1 2024
increased by over 45% year-on-year.
This robust performance was driven
by the Group's core content licensing business whose revenues grew
28% year-on-year, and where the Company strengthened its market
presence by partnering with 22 new clients and launching 7 new
Slingo games.
In North America, highlights
included the launch of the Slingo portfolio with Fanduel in
Pennsylvania and Connecticut, Atlantic Lottery Corporation
(Canadian Maritime Provincial Lottery) and also Fanatics in New
Jersey, Michigan and Pennsylvania.
In Europe, Slingo went live with
Pokerstars in Italy and Romania, DAZN in the UK and Spain,
Livescore in the Netherlands, Solverde in Portugal, VirginBet in
the UK and Entain in Spain.
The strong momentum experienced
during this period provides the Board with the belief that the
Company is on track to meet its full-year targets, as it continues
to expand into new markets and launch new games with existing
partners.
The Company expects to announce its
2024 Interim Results during the week commencing 9 September
2024.
Mark Segal, Chief Executive Officer of Gaming Realms,
commented: "We are delighted with
our strong performance in the first half of 2024, driven by the
growth in our core content licensing business. Our expansion into
new markets and the successful launch of new games with new and
existing partners underscore the strength of our strategy. Looking
ahead, we are confident in our ability to maintain this momentum
and meet our full-year targets."
*EBITDA before share based
payments.
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Gaming Realms plc
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0845 123 3773
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Michael Buckley, Executive
Chairman
Mark Segal, CEO
Geoff Green, CFO
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Peel Hunt LLP - NOMAD and joint broker
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020 7418 8900
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George Sellar
Lalit Bose
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Investec - Joint broker
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020 7597 4000
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Ben Farrow
Lydia Zychowska
Yellow Jersey PR
Charles Goodwin
Annabelle Wills
Bessie Elliot
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07747 788 221
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About Gaming Realms
Gaming Realms creates and licenses
innovative games for mobile, with operations in
the U.K., U.S., Canada and Malta. Through
its unique IP and brands, Gaming Realms is bringing together media,
entertainment and gaming assets in new game formats. As the creator
of a variety of SlingoTM, bingo, slots and other games,
we use our proprietary data platform to build and engage global
audiences. The Gaming Realms management team includes accomplished
entrepreneurs and experienced executives from a wide range of
leading gaming and media companies.