Gaming Realms Share News (GMR)

AIM-listed interactive online gaming group Gaming Realms has agreed to sell its loss-making Bingo Godz and Castle Jackpot brands for a total of £0.5m.The assets, currently operated by IP&S Limited, are being offloaded to European Domain Management (EDM).EDM will pay £200,000 in cash upfront and a further £300,000 over the next 17 months.Gaming Realms will reinvest the proceeds into its SpinGenie online slots brand which sits on its own proprietary platform.Chief executive Patrick Southon said the disposal "is the next stage of our stated strategy to focus our resources on our own technology platform where we see a quicker and more sustainable return on investment than on third party operated sites such as Bingo Godz and Castlejackpot".Bingo Godz and Castle Jackpot collectively made a £2.1m loss for Gaming Realms in the year ended 30 September 2014.Shares were up 1.3% at 34.18p on Thursday.