The first half of 2020 saw a revenue increase of 18% compared to the previous year, thanks in part to the strong performance by Gaming Realms, a specialist in Slingo content licensing.
Gaming Realms has released a trading report that shows H1 revenues will reach PS13.5m ($17.4m/EUR16.0m) in the six-month period ending 30 June.
The increase was largely due to a 28 percent year-on-year revenue growth for the company’s core business of content licensing, which saw 22 new customers sign up as well as seven new Slingo games launched during this period.
This included FanDuel launches in Pennsylvania, Connecticut and Michigan as well as Fanatics launches in New Jersey, Pennsylvania and Michigan.
Gaming Realms expanded its presence in Europe with Slingo in Italy, Romania and the Netherlands. PokerStars and LiveScore bet were also added in The Netherlands. Solverde has added Slingo to Portugal. DAZN, VirginBet, another LiveScore Brand, and DAZN & Entain have added these games to Spanish offerings.
Gaming Realms has not provided any update on the brand licensing and social publishing unit in its interim results.
EBITDA growth up but growth is skewed due to exceptional item in H1 of 2023
Gaming Realms’ adjusted earnings (before interest, taxes, depreciation, and amortization) in the first half of this year were PS5.8m, a 21 percent increase from last year.
The growth numbers are however skewed due to a PS600,000.00 addition made in the first six months of 2023. If this amount is excluded, the adjusted EBITDA increased by 45% during the first half.
Gaming Realms is on target to meet its full-year goals
Gaming Realms, citing its H1 success, said that it was on target to reach its targets for the full year. However it did not provide any details on its revenue or earnings expectations in 2024.
This would indicate that it has confidence in beating the record revenue of 2023, which increased by 25.6%.
Mark Segal, CEO of Mark Segal & Co. Inc. said: “We’re delighted with our performance for H1 2024.” This was driven by growth in the core licensing business. The strength of our strategic plan is demonstrated by the expansion of the company into new markets, and the launch of successful new games in collaboration with existing and new partners.
We are confident that we can maintain our momentum in order to meet our targets for the full year.
Gaming Realms is expected to release its first-half results in the week beginning 9 September 2024. At the time this article was written, shares of the supplier were trading at 39.93p per share. This represents a 7.34% increase.
