Last checked at 5 Feb 2024 07:00
5 February 2024
Gaming Realms Plc
("Gaming Realms", the "Company" or the "Group")
Pre-Close Trading Update
Record Year
FY23 Record Revenue and adjusted EBITDA* with Growth of 23% and 28% respectively
Gaming Realms plc (AIM: GMR), the developer and licensor of mobile focused gaming content, is delighted to announce its pre-close trading update for the full year to 31 December 2023 ("FY23").
The Company is pleased to confirm that it expects to report FY23 revenue of c.£23 million and adjusted EBITDA* of not less than £10.0 million, up 23% and 28% respectively year-on-year, in line with Board's expectations. The Company ended the year with £7.5 million of net cash.
This strong performance has been predominantly driven by content licensing, with growth across all major markets. During the year, Gaming Realms went live with a further 44 partners across all its markets. In terms of geographic expansion, the Company was pleased to obtain licenses to supply its games into West Virginia's igaming market, the Group's seventh license in North America, as well as Greece. The Company expects to launch in both these markets in the coming months.
Continuing the Company's association with high profile entertainment brands, in Q4 2023, Gaming Realms launched Slingo Space Invaders and Tetris Slingo, collaborating with two of the most iconic games brands of their generations. Gaming Realms also collaborated with Paddy Power to launch Slingo Bingoton, which was the best new launch on the Paddy Power Bingo platform in 2023.
The Company expects to report its FY23 Preliminary Results during the week commencing 1 April 2024.
Mark Segal, Chief Executive of Gaming Realms, commented: "I am delighted to report on the exceptional year Gaming Realms has experienced. Our growth in FY23, with a 23% increase in revenue and a 28% rise in adjusted EBITDA, underscores the strength and appeal of our gaming content in the global market.
"The expansion into new territories and the addition of 44 new partners demonstrates our commitment to broadening our reach and enhancing player experiences. As we look ahead, we remain focused on delivering engaging content and expanding our footprint in key markets, ensuring that Gaming Realms continues to be a leader in the mobile gaming industry. We look forward to the future and the current year's performance with confidence."
*EBITDA before share-based payments and adjusting items
Enquiries:
Gaming Realms plc Michael Buckley, Executive Chairman Mark Segal, CEO Geoff Green, CFO | 0845 123 3773 |
| |
Peel Hunt LLP - NOMAD and Joint Broker George Sellar Andrew Clark Lalit Bose
Investec Bank plc - Joint Broker Bruce Garrow Ben Farrow Lydia Zychowska
| 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.