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LONDON (Alliance News) - Gaming Realms PLC on Wednesday reported a narrowed pretax loss in 2015 as revenue multiplied in both its real money gambling and social and licensing divisions, growth which it said continued into the first quarter of 2016.
The creator of mobile real money and social games said its pretax loss in 2015 narrowed to GBP7.8 million from GBP9.8 million in 2014, as revenue almost doubled to GBP21.2 million from GBP11.2 million.
Revenue from real money gambling multiplied to GBP10.8 million from GBP2.3 million, while social and licensing revenue also jumped to GBP2.5 million from GBP0.6 million. The total number of new depositing players grew by more than half to 169,988 from 109,561.
In the first quarter of 2016, Gaming Realms said revenue doubled to GBP7.5 million from GBP3.8 million, with real money gambling revenue up to GBP4.2 million from GBP1.8 million, and social and licensing revenue up to GBP2.0 million from GBP0.3 million.
"The launch of our proprietary platform at the start of 2015 and acquisition of Slingo IP and games has transformed the business and our content proposition. The progress made at the start of 2016, with a number of licence agreements in place with major brands and media publishing companies, means that Gaming Realms is opening up a number of new channels to market its games across both real money and social segments. The group is on track to continue its targeted growth for the year," Chief Executive Patrick Southon said in a statement.
Shares in Gaming Realms were trading up 2.1% at 21.19 pence on Wednesday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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