Gaming Realms PLC Announces Pre-Close Trading Update

Rhea-AI Summary

Gaming Realms plc expects to report H1'23 revenue of c.£11.4 million and adjusted EBITDA* of c.£4.6 million, up 34% and 32% respectively, year-on-year. The strong performance was driven by the growth of the Group's licensing business, launching new games and partnering with new companies. The company also secured brand licensing agreements for Tetris and SPACE INVADERS, expected to launch later this year. Gaming Realms is confident in meeting its full-year targets.

Positive

• Gaming Realms expects to report H1'23 revenue of c.£11.4 million, up 34% YoY
• Adjusted EBITDA* for H1'23 expected to be c.£4.6 million, up 32% YoY
• Continued growth of the Group's licensing business
• 25 new partners and 5 new Slingo games launched
• Secured brand licensing agreements for Tetris and SPACE INVADERS
• Confident in meeting full-year targets

Negative

• None.

H1'23 Revenue and EBITDA* growth of 34% and 32% respectively, driven by growth in Game Content Licensing and Market Expansion

LONDON, UK / ACCESSWIRE / July 27, 2023 / 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.£11.4 million and adjusted EBITDA* of c.£4.6 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 Investec Bank plc - Joint Broker Bruce Garrow Alex Wright Ben Farrow	020 7418 8900 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.

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.

SOURCE: Gaming Realms PLC

View source version on accesswire.com:
https://www.accesswire.com/770587/Gaming-Realms-PLC-Announces-Pre-Close-Trading-Update

FAQ

What is Gaming Realms expecting for H1'23 revenue?

Gaming Realms expects to report H1'23 revenue of c.£11.4 million, up 34% YoY

How much is the adjusted EBITDA* expected to be for H1'23?

Adjusted EBITDA* for H1'23 is expected to be c.£4.6 million, up 32% YoY

What contributed to the strong performance of Gaming Realms?

The strong performance was driven by the growth of the Group's licensing business, launching new games, and partnering with new companies

What brand licensing agreements did Gaming Realms secure?

Gaming Realms secured brand licensing agreements for Tetris and SPACE INVADERS

Is Gaming Realms confident in meeting its full-year targets?

Yes, Gaming Realms is confident in meeting its full-year targets