Gaming Realms PLC: A Record Year Ahead
Generated by AI AgentWesley Park
Tuesday, Feb 4, 2025 2:15 am ET1min read
Gaming Realms PLC (AIM: GMR), the developer and licensor of mobile-focused gaming content, has announced a pre-close trading update for the full year to 31 December 2024, revealing a strong performance driven by content licensing and market expansion. The Company anticipates reporting FY24 revenue of approximately £28.5 million, up 22% against the prior year, and adjusted EBITDA* of £13 million, up 30% against FY23 and in line with market expectations.
The Company's success can be attributed to several key factors, including:
1. Content Licensing Growth: Gaming Realms' core content licensing business saw a 28% year-on-year increase in revenues, driven by the launch of 44 new partners globally and the introduction of Slingo-branded retail and digital games to lotteries in Australia, Canada, Europe, New Zealand, and the US.
2. Market Expansion: The Company expanded its market presence by entering West Virginia, its fifth US iGaming market, and launching its content in 20 regulated markets worldwide.
3. Strong Early Trading in 2025: The Company's early trading performance in 2025 has been encouraging, with ongoing demand for the Slingo portfolio, indicating a positive outlook for the coming year.
Mark Segal, Chief Executive of Gaming Realms, commented on the strong results: "We are delighted to announce these strong results for FY24, which underline the continued appeal of our Slingo portfolio and other unique gaming content. Our success in entering new regulated markets, coupled with the addition of multiple new partners, has fuelled significant growth. We look forward to building on this momentum in 2025 as we broaden our market reach and further expand our innovative content portfolio."
Gaming Realms expects to announce its FY24 Preliminary Results during the week commencing 31 March 2025. As the Company continues to execute its strategy, investors can expect to see further growth and market expansion in the coming years.
*EBITDA before share-based payments and adjusting items
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