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NEWS 19 July 2017

Outlook positive for Gaming Realms as H1 finances rise

By Tom Lewis
Industry supplier Gaming Realms has registered confidence in the progress of its growth strategy, reporting revenue of £15.7m in its H1 trading update.

The figure, which excludes disposables, represents growth on last year’s total of £14.9m, while the firm’s adjusted EBITDA loss contracted from £3.6m to £0.9m.

The first six months of the year have proved commercially productive ones for Gaming Realms.

The company signed new B2B content licenses for its Slingo Original portfolio of games in New Jersey, including with Caesars Interactive Entertainment, GVC Holdings, Pala Interactive and Rush Street Interactive.

Gaming Realms detailed significant cost savings on the back of the integration of its social business, while the launch of its new white label real money gambling sites, Dealornodealcasino.com and Loveislandgames.com were also noted among its H1 operational highlights.

In an accompanying statement on its current trading and future outlook, Gaming Realms said: “With the H1 2017 adjusted EBITDA loss significantly reduced to £0.9m, the board remains confident in its strategy and is on track to achieve the board's expectations for the year as a whole.

“The board anticipates the company will achieve significant positive EBITDA in the second half of the financial year with increased revenues, seasonal marketing costs reduced, and a full period of benefits from the integration of the social business.

“To support this growth, the company anticipates raising approximately £1m from investors in the relatively short term.”

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