REG - Gaming Realms PLC - Pre-Close Trading Update

Gaming RealmsAnnouncement

05/02/2024 07:00

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RNS Number : 9223B  Gaming Realms PLC  05 February 2024

5 February 2024

 

Gaming Realms Plc

 

("Gaming Realms", the "Company" or the "Group")

 

Pre-Close Trading Update

 

Record Year

 

FY23 Record Revenue and adjusted EBITDA* with Growth of 23% and 28%
respectively

 

Gaming Realms plc (AIM: GMR), the developer and licensor of mobile focused
gaming content, is delighted to announce its pre-close trading update for the
full year to 31 December 2023 ("FY23").

 

The Company is pleased to confirm that it expects to report FY23 revenue of
c.£23 million and adjusted EBITDA* of not less than £10.0 million, up 23%
and 28% respectively year-on-year, in line with Board's expectations. The
Company ended the year with £7.5 million of net cash.

This strong performance has been predominantly driven by content licensing,
with growth across all major markets. During the year, Gaming Realms went live
with a further 44 partners across all its markets. In terms of geographic
expansion, the Company was pleased to obtain licenses to supply its games into
West Virginia's igaming market, the Group's seventh license in North America,
as well as Greece. The Company expects to launch in both these markets in the
coming months.

Continuing the Company's association with high profile entertainment brands,
in Q4 2023, Gaming Realms launched Slingo Space Invaders and Tetris Slingo,
collaborating with two of the most iconic games brands of their generations.
Gaming Realms also collaborated with Paddy Power to launch Slingo Bingoton,
which was the best new launch on the Paddy Power Bingo platform in 2023.

 

The Company expects to report its FY23 Preliminary Results during the week
commencing 1 April 2024.

 

Mark Segal, Chief Executive of Gaming Realms, commented: "I am delighted to
report on the exceptional year Gaming Realms has experienced. Our growth in
FY23, with a 23% increase in revenue and a 28% rise in adjusted EBITDA,
underscores the strength and appeal of our gaming content in the global
market.

 

"The expansion into new territories and the addition of 44 new partners
demonstrates our commitment to broadening our reach and enhancing player
experiences. As we look ahead, we remain focused on delivering engaging
content and expanding our footprint in key markets, ensuring that Gaming
Realms continues to be a leader in the mobile gaming industry. We look forward
to the future and the current year's performance with confidence."

 

*EBITDA before share-based payments and adjusting items

 

Enquiries:

 

 Gaming Realms plc                         0845 123 3773

 Michael Buckley, Executive Chairman

 Mark Segal, CEO

 Geoff Green, CFO

 Peel Hunt LLP - NOMAD and Joint Broker    020 7418 8900

 George Sellar

 Andrew Clark

 Lalit Bose

 Investec Bank plc - Joint Broker          020 7597 5970

 Bruce Garrow

 Ben Farrow

 Lydia Zychowska

 Yellow Jersey                             07747 788 221

 Charles Goodwin

 Annabelle Wills

 

About Gaming Realms

 

Gaming Realms creates and licenses innovative games for mobile, with
operations in the UK, U.S. and Canada. Through its unique IP and brands,
Gaming Realms is bringing together media, entertainment and gaming assets in
new game formats. The Gaming Realms management team includes accomplished
entrepreneurs and experienced executives from a wide range of leading gaming
and media companies.

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