REG - Gaming Realms PLC - Pre-Close Trading Update

Gaming RealmsAnnouncement

30/07/2024 07:00

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RNS Number : 2823Y  Gaming Realms PLC  30 July 2024

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.

 

 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

 Lalit Bose
 Investec - Joint broker                  020 7597 4000
 Ben Farrow

 Lydia Zychowska

 Yellow Jersey PR

                                         07747 788 221

 Charles Goodwin

 Annabelle Wills

 Bessie Elliot

 

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 Slingo(TM), 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.

 

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