UK's Gaming Realms H1 revenue slips on weaker brand licensing
UK's Gaming Realms H1 revenue slips on weaker brand licensing
Overview
UK mobile gaming licensor's H1 content licensing revenue rose 12%, but total revenue fell 3%
Adjusted EBITDA excluding brand licensing grew 16%, but total adjusted EBITDA declined 12%
Company expanded into four new regulated markets and increased unique players by 88%
Outlook
Gaming Realms expects FY26 results to be in line with market expectations
Company plans further international expansion and new regulated market entries in H2 2026
Gaming Realms to release more Slingo and Lucky Lunar titles and invest in platform technology
Result Drivers
NEW MARKETS & PARTNERS - Co said content licensing growth was driven by launches in new regulated markets and 22 new operator partnerships
PRODUCT EXPANSION - Co cited increased game releases, including 11 new titles and the launch of the Lucky Lunar studio, as supporting revenue growth
UK RESILIENCE - Co said UK revenues grew 3% despite a near doubling of Remote Gaming Duty, reflecting resilience of the Slingo brand and recent product innovations
Company press release: ID:nACSHxxj0a
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Content Licensing Revenue |
| GBP 13 mln |
|
H1 Adjusted EBITDA |
| GBP 6.6 mln |
|
H1 Pretax Profit |
| GBP 3.40 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the online services peer group is "buy."
Wall Street's median 12-month price target for Gaming Realms PLC is GBp56.00, about 85.4% above its September 7 closing price of GBp30.20
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 15 three months ago
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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)