Gaming Realms grows by 60% in 2016

ased gaming provider Gaming Realms has revealed year-on-year revenue growth of 60% for the 2016 tax year.

The company, which trades on the AIM section of the London Stock Exchange, confirmed that it had generated revenue of £34m in 2016 compared to £21.2m in 2015.

Gaming Realms CEO Patrick Southron said: "2016 has been another year of progress for Gaming Realms, with rapidly growing revenues, reduced losses and EBITDA positive in H2. Having scaled the business our plan is to be profitable in 2017 by continuing to drive top line growth and allocating our capital towards real money gaming and content licensing, the most profitable parts of our business".

Its real money gaming revenue jumped from £10.8m in 2015 to £21.5m in 2016, a rise of 100% on the previous year’s figures.

Licensing revenue increased by almost 700% to £0.8m following high profile deals with Zynga and Scientific Games.

In 2016, the company released a version of the Slingo Arcade game on Facebook and mobile devices which it has since distributed to the American gaming market. Revenue generated from social media platforms grew by 22% from £17,747 in 2015 to £21,600 in 2016.

Company chairman Michael Buckley welcomed the figures saying: " This is a strong endorsement of our execution in 2016 and how our mobile first strategy is yielding significant growth over the twelve-month period."