Last checked at 8 Dec 2020 07:00
8 December 2020
Gaming Realms plc
("Gaming Realms", the "Company" or the "Group")
Trading Update
Gaming Realms plc, the technology led developer and licensor of mobile focused gaming content, today issues a trading statement ahead of its 31 December 2020 year end ("the Period").
Since updating the market on 8 September 2020 when publishing its interim results, the Company is pleased to report that business performance and sales momentum has continued the trend demonstrated throughout the first 8 months of this year.
Revenues for the Period are expected to be £10.7m, 55% ahead of 2019. As a result of this increase in revenue, the Company expects adjusted EBITDA of not less than £2.75m for the year ended 31 December 2020.
This strong performance is due to the expansion of our partners internationally, the release of new "Slingo" games, and improvements to the Group's technology. In the second half of the Period, we have gone live with 5 new partners, including PaddyPower Betfair in Europe, and launched 4 new "Slingo" games including Slingo Fluffy Favourites.
The Company has applied for licenses in Pennsylvania and Michigan in the US and hopes to launch in these states during the first half of 2021.
The Company is confident of achieving further progress during 2021 and will provide further updates on its progress in due course.
Gaming Realms plc Michael Buckley, Executive Chairman Mark Segal, CFO
| 0845 123 3773 |
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Peel Hunt LLP - NOMAD and broker George Sellar Andrew Clark Will Bell
| 020 7418 8900 |
Yellow Jersey PR Charles Goodwin Annabel Atkins Georgia Colkin
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07747 788 221 07983 557 851 07825 916 715 |
This announcement contains inside information within the meaning of the Market Abuse Regulation. The person responsible for arranging release of this announcement on behalf of Gaming Realms plc is Mark Segal, Chief Financial Officer.
About Gaming Realms
Gaming Realms creates and licenses innovative gaming content for mobile, with operations in the UK, U.S. and Canada. Through its proprietary 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 technology, gaming and media companies.