Gaming Realms plc, the developer and licensor of mobile-focused gaming content, announced a pre-close trading update for the half-year ending 30 June 2024 (H1 2024).
The company reported 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 the 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, said: “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.”
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