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LONDON (Alliance News) - Gaming Realms PLC Monday reported a rise in revenue in the third quarter of 2015 and said it will meet revenue expectations for the full year.
The online gaming company said total group revenue in the third quarter grew to GBP6.2 million from GBP4.2 million in the same period the year before, as real money net gaming revenue rose to GBP2.8 million from GBP2.4 million.
Gaming Realms said Slingo Riches, one of the games on its new gambling site Slingo.com, accounted for 16% of gross gaming revenue in the quarter, while the Slingo free-to-play mobile apps generated a monthly record of USD500,000 during September.
The company said it expects Slingo.com to "materially enhance" revenue into 2016 and beyond, adding that overall group revenue is in line with market expectations for the full year 2015.
"The launch of a Slingo-based real money site is the first step in the integration and development of the assets acquired in August from Real Networks. This new gambling site will build on the success of the Slingo Riches game which has been operating on our platform since April 2015," Chief Executive Patrick Southon said in a statement.
"We believe that this new product, targeted at our key mobile based demographic, will enable us to continue our revenue and player growth into 2016 and beyond. It will also expand our differentiated product offering in the UK gambling market," he added.
Shares in Gaming Realms were trading up 7.7% at 28.55 pence Monday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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