Gaming Realms is confident that it will continue to grow throughout the rest of the year. The company’s board has stated they are “comfortable” with market expectations regarding FY23 financial results.
In the first half of this year, the group launched with 25 partners in British Columbia and South Africa and submitted licenses for both. Total revenue increased by 37 percent to PS8.8m (PS6.4m in 2022).
Gaming Realms also saw its licensing revenue increase by 46 percent to PS9.8m (PS6.7m in 2022).
The content licensing market grew by 37 percent from PS6.4m to PS8.8m in the period January-June.
New Jersey is the leading contributor in North America, which has seen a 37 percent increase.
Brand licensing revenue grew to PS1m (PS300,000 in 2022), but revenues from the social segment of the group fell by 2 percentage points to PS1.8m.
The profit before tax increased by 74% to PS2.4m (PS1.4m in 2022) and the adjusted EBITDA reached PS4.8m. This is a 37 percent increase from PS3.5m. Gaming Realms stated that the net cash at period’s close increased by 54 percent to PS4.5m (PS2.9m in 2022). This “demonstrates the cash-generative nature of the business model” for the group.
After the end of the reporting period, the licensing revenue is 20 percent higher than the same period a year ago. Slingo Originals has also been launched with Betclic Portugal.
Mark Segal is the Chief Executive Officer of Gaming Realms. He stated that “we have delivered a solid first half performance, as we have grown international licensing with our innovative Slingo Content to a growing list of partners and players.”
The group is in a good position to grow and its outlook remains positive. We see growth in our partnerships, along with new operators, products and market launches. This gives us great confidence about the long-term prospects of the business.