Sailorsam-you are taking the market and mms's games seriously-just look at the fundamentals-looking good. Could see a 2p divi next year. |
Yes...it's a strange old world !! With all the cash they are now generating I'd love to see a 1p dividend....it wouldn't even cost them £3 million. I'm looking forward to the results statement. |
Bizarre. Amazing results. So down |
 Canaccord this morning
Gaming Realms has announced a positive trading update covering the year to end 31 December 2023, showing that the Group made strong progress over FY23E, delivering a record performance, with both revenue and adjusted EBITDA expected to be in line with expectations. Group FY23E revenues are expected to be c.£23m (vs CGe £23.0m), representing growth of c.23% yoy. Adjusted EBITDA (ex SBP) is expected to be above £10m (vs CGe £10.1m), growth of c.28% vs the £7.8m achieved in FY22. This equates to a margin of c.43.5%, a further improvement from the 41.8% achieved in FY22. The Group remains debt-free with a cash balance of c.£7.5m at the end of December. Full FY23E prelims are expected in the week commencing 1 April. This positive outcome has been driven by continued strong growth in content Licensing, with growth seen across all major markets, alongside 44 new partner launches internationally. Management comments that the Group has obtained licenses to supply its games into West Virginia’s iGaming market, the Group’s seventh license in North America, as well as Greece. Launches are expected in both these markets in the coming months. Growth has also driven by increased games content with a further 10 new Slingo games launched in FY23 (75 in total at end of December). The final quarter saw the launch of Slingo Space Invaders and Tetris Slingo, with the Group collaborating with two of the most iconic games brands of their generations. The Group also collaborated with Paddy Power to launch Slingo Bingoton, which was the best new launch on the Paddy Power Bingo platform in 2023.
Valuation and recommendation
Management is looking forward to the year ahead with confidence. GMR trades on a CY24E EV/EBITDA multiple of 7.3x, falling to 5.6x in CY25E, which we think is too low given the forecast growth and increasing North American exposure (45% of Content Licensing revenues in H1'23). We believe that Gaming Realms has a number of attractive attributes. These include: 1.) Significant growth potential; 2.) Exposure to Regulated Markets; 3.) Proprietary and differentiated content and a leading distribution platform; 4.) A highly scalable and profitable, capital-light Licensing model; 5.) An experienced senior leadership team and Board; and 6.) Strong profit margins with scope for further growth. We retain our BUY rating and 50p TP. |
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." |
can see why this ticked up on Friday. very good trading update. |
Positive move Friday let's hope it can sustain the rally and push on in the coming weeks. |
Slingo Hot Roll is now available in Italy 🇮🇹 launched exclusively with Lottomatica!
After experiencing a period of record growth, we spoke to Gaming Realms’ recently appointed Chief Product Officer, Suki Sandhu, about the changing face of the studio’s content. Suki details how Gaming Realms’ Slingo titles have become a genre in their own right and sheds light on the numerous new mechanics that will evolve the games throughout 2024, as well as the provider’s primary target audience and its localisation
Capital H in front of ttps
ttps://open.spotify.com/episode/13BlKWsVD3olXpW2ZTvm6x?trk=organization_guest_main-feed-card_reshare_feed-article-content |
Big volume today |
yep something is brewing.. |
Hi Boozey, was expecting one this week as well, hopefully next week
Nice trade just gone thru 1,632,489 shares
Something is moving this today |
I was expecting a trading update this morning - anyone got a view on this please? |
A bill which seeks to legalise online casinos in Maryland has been put forward in the state’s Senate.
Senator Ron Watson introduced and read the legislation for the first time on January 26 which, if passed, would make Maryland the eighth state in the US to legalise igaming.
Also a YouTube interview with 4theplayer talking about their relationship with gaming realms
Around 20 minute's in
/m.youtube.com/watch?v=NWP-zmXz9Jc |
Rekon this will start moving as we approach a TU at the end of the month |
Thank you PJ84, we should be due a trading update towards the end of the month
Also launched is game Tetris Slingo in Italy 🇮🇹 exclusively with Sisal! |
"Gaming Realms can ‘supercharge’ growth, says Peel Hunt
Mobile and social gaming developer Gaming Realms (GMR) is supercharging its growth, but this is not fully reflected in the share price, says Peel Hunt.
Analyst Ivor Jones reiterated his ‘buy’ recommendation and target price of 60p on the stock, which has advanced 43% in the past year.
Nevertheless, the analyst said the share price offered ‘overlooked global growth’ with ‘more games with more licensees in more territories’ which resulted in 36% revenue growth in the first half of 2023.
The business operates on a ‘build it once, sell it many times’ strategy that means it has a ‘high degree of operating leverage and no debt’ with £4.5m in cash as of June.
‘Gaming Realms benefits from the revenue growth of its licensees; in North America, in particular, which is well on the way to accounting for more than half of revenue,’ said Jones.
‘However, it supercharges its growth by adding more games, licences, and territories.’" |
looks to be a large buy of 433k today :) |
If GMR can cut a deal with BETMGM, how long before they get into ENT's int'l network?
The company is fine but the shares need something to get moving - high P/E for now. |
As an investor in both Gaming Realms and Entain. I have just listened to the following interview with the BetMGM CEO which is 50% owned by Entain in a JV and although slightly off-topic there was a mention of Slingo just after 29 mins. |
As we begin the new year, Gaming Realms is pleased to present a round-up of its activities during November and December 2023.
Gaming Realms started November with a trip to Italy for the EGR awards where it was nominated for the best content supplier award. Gaming Realms also attended SiGMA in Malta, which was a great opportunity to meet the Maltese operators, network and generate potential new business development opportunities. The Company was also honoured to attend the Sky Betting and Gaming Charity Gala to support the worthwhile cause of the Children’s Heart Surgery Fund in Leeds.
Games
It was a busy end of year for Gaming Realms with multiple game launches during the last two months.
At the beginning of the period, Slingo Wolf Snowstorm went live in the UK and with .com markets on the 23rd of November. On the same day, Slingo Space Invaders went live in the North American market.
To celebrate Netflix’s hit show Bridgerton, in collaboration with Paddy Power, Gaming Realms launched Slingo Bingoton as part of a wider marketing campaign. Paddy Power, which is part of Flutter Group, exclusively launched this game with it going on to become the best new launch on the Paddy Power Bingo platform in 2023. Separately, Sky Betting and Gaming, which is also part of Flutter Group, exclusively launched Slingo Full House, in collaboration with the Company earlier in November.
Over in the US, Gaming Realms released Slingo Red Wings, a bespoke game for BetMGM in support of the popular National Hockey League team. Currently, a promotion is live where all players who register to play during a Red Wing’s hockey game get a $10 bonus when Red Wings score more than four goals in a single game. Looking ahead, Fowl Game, one of the most popular games by WMG Gaming in Italy, is planning to produce a Slingo version of this famous game to be released in Q3 2024.
Operators and Market Expansion
Gaming Realms is thrilled to have gone live with Kirolbet in Spain and Admiral in the UK and .com. |
Brazil’s chamber of deputies has now voted to approve online gambling, giving the final green light for the market to be regulated in 2024.
Yesterday evening’s vote on 21 December follows the senate plenary approving Bill 3,626/2023 on Tuesday 12 December last week.
Now that the Bill has been approved by the chamber of deputies, it will be passed onto the office of the president, Luiz Inacio Lula da Silva, for final approval. |
Gaming Realms is one of my better investments and I have no intention of selling but have to agree with tiger60 that seemed to be a lot of sales jargon without revealing anything of substance. |
Was that a lot of jargon to say very little? Didn’t read particularly well in my opinion.
GMR are not the best at self promotion and RNS announcements regarding contracts. There should be more promotion of the healthy financials and benefits derived from the extraordinary growth versus relatively stable costs.
Unfortunately there are no new States opening up at the moment to add to existing regions but I get the feeling we need a push to get out of the current trading range. Prospects look great and even with the current customer base we are undervalued so let’s hope for our own Xmas rally. Christmas Slingo…. |
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