Last checked at 23 Mar 2015 09:00
Gaming Realms Plc
("Gaming Realms," the "Company" or the "Group")
Trading Update
New Platform Launch
Gaming Realms, the creator and developer of interactive next generation online gaming products, is pleased to announce that it will be publishing its audited results for the 15 months ended 31 December 2014 on 22 April 2015.
The Company also announces an update on trading in 2014 and the performance of its recently launched platform.
Trading Update
During the 15 months ended 31 December 2014 the Group generated revenue of £11.2m (2013: £0.9m) and an adjusted EBITDA loss of £8.2m (2013: loss of £2.3m)
Revenue is derived from Real Money Gaming of £2.7m (2013: £0.2m), Marketing Services of £7.3m (2013: £0.2m) and Social Gaming of £1.2m (2013: £0.4m)
New Platform Launch
Gaming Realms plc subsidiary, Bear Group Limited, launched its proprietary platform which has been designed specifically to cater for the expanding mobile market.
Since the launch in September 2014, management have been very pleased with initial results in which 82% of the players are using mobile, generating 60% of the revenue.
Additionally:
§ Average daily active funded players have increased 104% month on month to over 2,100 in March 2015
§ Total new depositing players are approximately 18,900
§ Overall cost per new depositing player lower than £80
§ Average daily deposits have grown 183% month on month to in excess of £50,000 during March 2015
§ Successful migration of pocketfruity.com to the new platform which will enable this popular brand to reach a new audience
§ Slingo planned to launch on SpinGenie in April 2015
Focus has continued on product development of unique content and player acquisition to grow the player base and scale of the platform.
Patrick Southon, CEO of Gaming Realms, said:
"2014 was a transformational year for Gaming Realms. The completion of our proprietary platform and the successful inception of the Spin Genie brand have provided us with the foundations to execute our strategy in 2015. We have been extremely pleased with the integration of QuickThink Media and Blueburra Holdings as they have been able to give the Group more scale in player acquisition and management. We are confident that shareholders will see much improved results for 2015."
- Ends -
Gaming Realms Group Michael Buckley, Chairman c/o Bell Pottinger
| +44 (0) 20 3772 2500 |
Cenkos Securities (Nomad and Broker) Max Hartley (Nomad), Julian Morse (Sales)
| +44 (0) 20 7397 8900 |
Bell Pottinger Olly Scott James Newman | +44 (0) 20 3772 2500 |
About Gaming Realms
Gaming Realms Limited is an online gaming business formed in 2012 to develop a new generation of social bingo and slot machine gaming concepts.
Gaming Realms was founded by the team behind Cashcade, which created the leading online bingo brand, Foxy Bingo, in addition to other online bingo and casino games. The success of Cashcade culminated in its sale to bwin.party digital entertainment plc for a total consideration of approximately £96 million in 2009.