Gaming Realms announces FY24 revenue of £28.5m
This figure marks a 22% increase from the revenue reported the year prior.
Key points:
– Gaming Realms has posted its FY24 financial results
– The supplier’s annual revenue rose by 22% to £28.5m
– Both revenue and EBITDA growth was primarily driven by a strong licensing segment performance
Gaming Realms has announced its full-year 2024 financial results, highlighting revenue of £28.5m ($36.9m) for the year – up 22% compared to 2023.
Overall, Gaming Realms’ revenue growth year-on-year can be largely attributed to a strong performance in licensing revenues during 2024. Moreover, the company has further reiterated a positive start to 2025 during the year’s first quarter – stating that revenue is currently in line with management’s expectations.
FY24 finances
Of Gaming Realms’ overall revenue figure, £24.5m was accounted for by licensing revenue – which grew by 23% year-on-year, with the remaining £3.5m coming from social publishing revenue, which also rose by 14%. 2024 also saw the initiation of a £6m share buyback programme for Gaming Realms.
Elsewhere, EBITDA rose by £12.3m from the £9.2m posted in 2023, with adjusted EBITDA reaching £13.1m, up 30% year-on-year. Indeed, Gaming Realms’ sharpest financial increase was experienced by the company’s profits, which saw an uptick of 61% year-on-year, settling at £8.3m for 2024. Additionally, the supplier managed to remain out of debt for the year, with year-end cash balance rising to £13.5m from the £7.5m posted in 2023.
FY24 highlights
It was a busy year for Gaming Realms, with the provider obtaining full iGaming supplier licences within the West Virginian and British Columbian markets, with its entry into West Virginia marking the company’s fifth US state market entry. Also in North America, the organisation drew up new partnerships with FanDuel and Fanatics across a number of US states.
In Europe, Gaming Realms partnered with Hard Rock Casino in the Netherlands in July, in a deal that was closely followed by an additional collaboration with Danske Licens Spil which sought to expand the supplier’s presence in the Danish market. More recently, the company appointed Lauren Bradley as its new Account Management Director.
Good to know: In September 2024, Gaming Realms also launched a new Caesars Blackjack title across the US and Canada
CEO’s comments
Speaking on Gaming Realms’ recent financial results, Group CEO Mark Segal said: “I am thrilled to share that 2024 has been another record-breaking year for Gaming Realms, with our performance including a 22% increase in revenue and a 30% lift in adjusted EBITDA. This is strong evidence of the effectiveness of our content licensing strategy, as well as the rising popularity of our Slingo portfolio in international iGaming markets.
“Building on the momentum, we have made an excellent start to 2025 with our recent launch in Brazil, a newly regulated iGaming market, which expands our global presence to 21 markets. We have also launched with nine new partners and released three new Slingo games, further enhancing our exciting and popular portfolio of content. As we move through 2025, we look forward to sharing updates on our continued expansion into new markets, the growth of our exciting game portfolio and upcoming partner launches.”
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