Gaming Realms PLC Pre-Close Trading Update (3177H)

TIDMGMR

RNS Number : 3177H

Gaming Realms PLC

27 July 2023

27 July 2023

Gaming Realms Plc

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

Pre-Close Trading Update

H1'23 Revenue and EBITDA* growth of 34% and 32% respectively, driven by growth in Game 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 to 30 June 2023 ("H1'23" or "the Period").

The Company is pleased to confirm that it expects to report H1'23 revenue of c.GBP11.4 million and adjusted EBITDA* of c.GBP4.6 million, up 34% and 32% respectively, year-on-year. This strong performance was driven by the continued growth of the Group's licensing business, which consolidated its market share by going live with 25 new partners and launching 5 new Slingo games.

In North America, highlights included the launch of the Slingo Originals portfolio with Betway, OLG (Provincial Lottery) and LeoVegas in Ontario, Pokerstars in New Jersey and Stardust Casino in Pennsylvania.

In Europe, Slingo went live with Bet365 in the UK, 888 in Romania and Spain, Betflag in Italy and Betsson and Mr Green Casino in Denmark. The Company was also granted its Swedish Gaming Authority licence, allowing Gaming Realms to continue to supply its games to the Swedish market.

Early in the year, Gaming Realms secured brand licensing agreements for two internationally renowned games: Tetris and TAITO's SPACE INVADERS, expected to launch in the fourth quarter of this year. Gaming Realms also signed a licensing deal with Entain to launch Slingo Bingo. The game was developed in-house by Entain exclusively for UK customers and went live with Entain Bingo Products in May 2023.

This strong momentum in the Period gives the Board confidence that the Company is on track to meet its full-year targets.

The Company expects to report its 2023 Interim Results during the week commencing 11 September 2023.

Mark Segal, Chief Executive Officer of Gaming Realms, commented: "We are delighted to report strong performance in the first half of 2023, demonstrating our ability to deliver consistent growth from our ever-expanding games portfolio across existing and new markets.

"As we advance into the second half of 2023, we believe the momentum will continue, backed by our strong commercial pipeline, and that we will meet our full year targets."

*EBITDA before share-based payments

Enquiries:

 
Gaming Realms plc 
 Michael Buckley, Executive Chairman 
 Mark Segal, CEO                         0845 123 3773 
 
Peel Hunt LLP - NOMAD and Joint Broker 
 George Sellar 
 Andrew Clark 
 Lalit Bose                              020 7418 8900 
 
 Investec Bank plc - Joint Broker 
 Bruce Garrow 
 Alex Wright 
 Ben Farrow                               020 7597 5970 
Yellow Jersey 
 Charles Goodwin 
 Annabelle Wills                         07747 788 221 
 

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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July 27, 2023 02:00 ET (06:00 GMT)