Buy
Sell
Share Name Share Symbol Market Type Share ISIN Share Description
Gaming Realms Plc LSE:GMR London Ordinary Share GB00BBHXD542 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  3.40 33.66% 13.50 13.30 14.00 14.40 11.60 12.00 10,013,918 16:35:11
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 6.9 -4.7 -1.9 - 38

Gaming Realms PLC Pre-close Trading Update and Board Update

11/02/2020 7:00am

UK Regulatory (RNS & others)


Gaming Realms (LSE:GMR)
Historical Stock Chart


From Dec 2019 to Jun 2020

Click Here for more Gaming Realms Charts.

TIDMGMR

RNS Number : 5423C

Gaming Realms PLC

11 February 2020

11 February 2020

Gaming Realms Plc

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

Pre-close Trading Update

and

Board Update

Trading update

Gaming Realms plc (AIM: GMR) ("Gaming Realms" or the "Company"), the developer and licensor of mobile focused, real money games, announces a trading update for the full year to 31 December 2019 ("FY19").

The Company expects to report FY19 revenue modestly ahead of the Board's expectations. This encouraging performance has been driven primarily by the Company's content licensing business, which has continued to go from strength to strength, with eight new licensing agreements added during FY19. Due to this revenue performance and the continuing control of costs, the Company anticipates reporting a FY19 adjusted EBITDA loss of approximately GBP0.5m.

The Company expects to report its FY19 Preliminary Results during the week commencing 13th April 2020.

The positive momentum has continued into the start of FY20, with the Company launching its content on the sites of Leo Vegas, the Swedish mobile gaming company, and Buzz Bingo, the online site of one of the UK's largest owners of land-based bingo halls. The Company has also released a new game "Slingo Centurion" in partnership with Inspired Entertainment, the global games technology company and developer of the popular "Centurion" game. These achievements underpin the Board's confidence in the year ahead.

Board update

Patrick Southon, CEO, has decided to step down from the Board with immediate effect. The Company's Non-Executive Chairman, Michael Buckley, will become Executive Chairman until a replacement is found. Michael will be supported in his role by Mark Segal, who has been CFO of the Company for six years. A further announcement will be made in due course once a new CEO has been appointed.

Patrick Southon, said: "During my six years as CEO, the main focus of the Company was on B2C real money gaming. However, with the last of those assets disposed of in July 2019, and the Company now stable and successfully implementing its new B2B focused game development and licensing strategy, I feel now is the right time for me to pursue a new challenge. It has been an honour to work alongside everyone at Gaming Realms and I wish them and the Company every success in the future."

Michael Buckley, Chairman, said: "Patrick has made a valuable contribution to the Company over the last six years as CEO, most recently helping to successfully evolve the Company's resources and strategy to better suit the changed regulatory landscape we operate within. On behalf of the Board, I wish him every success in the future.

"FY19 was a transformational year for Gaming Realms, and I am delighted with our overall performance. We are now a simplified business with a clear and attainable strategy underpinned by a skilled and talented management team. The combination of our strong games portfolio, our existing distribution agreements with global partners, and our strong pipeline of new partnerships, means we are cautiously optimistic about the significant opportunities ahead of us as we focus on the growth of the Company."

Enquiries:

 
 Gaming Realms plc 
  Michael Buckley, Executive Chairman 
  Mark Segal, CFO                        0845 123 3773 
 Peel Hunt LLP, Nomad and Broker 
  George Sellar 
  Andrew Clark 
  Will Bell                              020 7418 8900 
 Yellow Jersey 
  Charles Goodwin 
  Georgia Colkin 
  Annabel Atkins                         020 3004 9512 
 

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

MSCGPUGUPUPUGMU

(END) Dow Jones Newswires

February 11, 2020 02:00 ET (07:00 GMT)

1 Year Gaming Realms Chart

1 Year Gaming Realms Chart

1 Month Gaming Realms Chart

1 Month Gaming Realms Chart
ADVFN Advertorial
Your Recent History
LSE
GMR
Gaming Rea..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20200602 22:16:43