Gaming Realms expects 55% rise in full-year revenue
Gaming supplier Gaming Realms has released a trading update ahead of the end of the year.
The company has reported that its business performance and sales momentum continued its upwards trend during the third quarter of the year.
For that reason, Gaming Realms has estimates its revenue will reach £10.7m ($14.2m) by year’s end, a rise of 55% from 2019 levels. The company also expects adjusted EBITDA to reach £2.75m for the year.
The company has attributed its “strong performance” to the international expansion of its partners, the release of new games and improvements in its technology.
In October, the developer signed a multi-year licensing agreement with gaming supplier NetEnt for its slot brand Starburst and Slingo genre of game.
The second half of 2020 has seen Gaming Realms go live with five new partners, such as Paddy Power in Europe and also increase its expansion in the US.
The company has aims to further its reach in North America after applying for licenses in Pennsylvania and Michigan. Gaming Realms is aiming to launch in the states in H1 next year.
Looking forwards, Gaming Realms said it is “confident of achieving progress during 2021 and will provide further updates on its progress in due course.”
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