GAMING REALMS PLC - PSDMF STOCK NEWS

Gaming Realms PLC has announced the completion of its share capital reduction, following approval by the High Court of Justice on July 16, 2024. The reduction became effective on August 1, 2024, after registration with the Registrar of Companies. This move allows the company to potentially pay dividends to shareholders or use the capital for other corporate purposes, such as share buybacks. However, there are no immediate plans for dividends or share repurchases.

Key points:

• The nominal value of each ordinary share has been reduced to £0.001
• The total number of ordinary shares remains unchanged at 294,826,444
• Shareholders approved the capital reduction at a general meeting on June 12, 2024

Gaming Realms plc (AIM:GMR) has released a pre-close trading update for H1 2024, reporting expected revenue of £13.5 million and adjusted EBITDA of £5.8 million, representing year-on-year increases of 18% and 21% respectively. The company's core content licensing business grew by 28% year-on-year, driven by partnerships with 22 new clients and the launch of 7 new Slingo games. Notable expansions include launches with Fanduel, Atlantic Lottery , and Fanatics in North America, as well as Pokerstars, DAZN, and Entain in Europe. The strong performance has led the Board to believe the company is on track to meet its full-year targets. Gaming Realms expects to announce its 2024 Interim Results in the week commencing September 9, 2024.

Gaming Realms announced a 27% revenue increase to £18.7 million for 2022, with a 34% rise in Adjusted EBITDA to £7.8 million. Profit before tax soared by 224% to £3.5 million. The year ended with a debt-free status and a cash balance of £2.9 million. In 2023, revenue rose by 53% year-on-year in the first two months, totaling £3.7 million. The company has launched in new North American and European markets, tied up with 13 new operators, and is set to release a Slingo Tetris game later this year. CEO Mark Segal expressed confidence in continued growth through 2023.

Gaming Realms plc has signed a licensing agreement with The Tetris Company to develop Tetris Slingo, merging the iconic Tetris shapes with the popular Slingo format. This new game is set to launch globally in Q4 2023 on social and real-money platforms. Slingo allows players to spin a reel and match numbers on a 5x5 grid for rewards. The collaboration aims to attract both existing Slingo fans and Tetris enthusiasts, leveraging the enduring popularity of Tetris since the 1980s. The initiative is part of Gaming Realms' strategy to innovate within the mobile gaming sector.

Gaming Realms has officially launched its mobile gaming content in Connecticut, partnering with DraftKings. The initial offering includes 5 games, with an additional 9 set to launch soon. Notable titles include Lucky Larry's Lobstermania Slingo, Blackjack X-Change, and Slingo Gems in partnership with the American Cancer Society. Executive Chairman Michael Buckley highlighted the U.S. as a key growth market, emphasizing the company's aim to expand its Slingo content globally.