Annabelle Stephenson
Gaming Realms plc, the mobile gaming content developer and licensor, has released its pre-close trading update for the first half of 2024, showcasing impressive revenue and EBITDA growth. The company reported expected revenue of approximately £13.5 million and adjusted EBITDA of approximately £5.8 million, representing year-on-year increases of 18% and 21% respectively. These figures exclude brand licensing, and when compared to the previous year excluding a one-off item, adjusted EBITDA for H1 2024 increased by over 45%.
The strong performance was primarily driven by Gaming Realms’ core content licensing business, which saw a 28% growth in revenues compared to the previous year. The company expanded its market presence by partnering with 22 new clients and launching 7 new Slingo games. Notable highlights in North America included the successful launch of the Slingo portfolio with Fanduel and Fanatics across various states. In Europe, Slingo games went live with prominent names such as Pokerstars, DAZN, Livescore, and VirginBet, among others.
With this robust momentum, Gaming Realms’ Board is confident in the company’s ability to meet its full-year targets. The company plans to continue expanding into new markets and launching new games with existing partners. The 2024 Interim Results will be announced in September.
Mark Segal, CEO of Gaming Realms, expressed his delight with the strong performance, especially in the core content licensing business. He emphasized the company’s expansion into new markets and the successful launch of new games as a testament to their strategic strength. Segal expressed confidence in maintaining this momentum and achieving the full-year targets.
Gaming Realms is a mobile gaming content creator and licensor operating in the UK, US, Canada, and Malta. The company combines media, entertainment, and gaming assets to create innovative game formats, leveraging its unique IP and brands. With a wide range of Slingo, bingo, slots, and other games, Gaming Realms uses its proprietary data platform to engage global audiences. The management team consists of experienced executives from leading gaming and media companies.
Additional facts:
1. In addition to the strong revenue and EBITDA growth, Gaming Realms reported a significant increase in its player database. The company’s database grew by 35% compared to the previous year, indicating the growing popularity of its games.
2. Gaming Realms’ partnership with Fanduel and Fanatics in North America has proven to be successful. This partnership has allowed the company to reach a wider audience and expand its market presence in the region.
3. The company’s expansion into new markets includes its entry into the Canadian gaming market. Gaming Realms has obtained a license from the Alcohol and Gaming Commission of Ontario, paving the way for its presence in Canada.
Important Questions and Answers:
1. What contributed to Gaming Realms’ strong revenue and EBITDA growth in H1 2024?
The strong performance was primarily driven by the company’s core content licensing business, which experienced a 28% growth in revenues. Gaming Realms also expanded its market presence by partnering with new clients and launching new games.
2. How has Gaming Realms expanded its presence in North America and Europe?
In North America, the company successfully launched its Slingo portfolio with Fanduel and Fanatics, expanding its reach across various states. In Europe, Slingo games went live with prominent names such as Pokerstars, DAZN, Livescore, and VirginBet.
Key Challenges or Controversies:
One potential challenge for Gaming Realms could be the increasing competition in the mobile gaming industry. As more companies enter the market, it may become more challenging for Gaming Realms to maintain its market share and attract new players.
Advantages:
1. Gaming Realms has experienced strong revenue and EBITDA growth, indicating its ability to generate profits in the mobile gaming industry.
2. The company’s expansion into new markets and partnerships with prominent names in the industry enhances its market presence and potential for further growth.
Disadvantages:
1. The increasing competition in the mobile gaming industry poses a challenge for Gaming Realms to stay ahead and continue its growth trajectory.
2. The reliance on partnerships and licensing agreements means that the company’s success is somewhat dependent on the performance and popularity of its partner brands.
Suggested related links:
– Gaming Realms Official Website
– Fanduel
– Fanatics
– Pokerstars
– DAZN
– Livescore
– VirginBet
