Published
OnlineFinancialIndustry

Gaming Realms reduces pre-tax loss despite sharp fall in revenue

Gaming Realms has reduced its pre-tax loss during the first half of 2018, despite a 27% year-on-year decline in total revenue to £11m ($14.4m).

GamingRealmsPatrickSouthon

The supplier’s revenue fell from £15m in H1 2017, with social revenue decreasing 48% year-on-year from £4m to £2.1m.

However, real money & licensing revenue rose 28% from £3.7m to £4.8m, including a licensing revenue increase of 175% to £0.6m.

Adjusted EBITDA also increased by £1.5m to £0.4m, following a loss in H1 2017.

Elsewhere, Gaming Realms sold its affiliate business for £2.4m, as well as 70% of its UK B2C brands to River UK Casino for up to £23.1m, with £4.2m received in August 2018.

Despite the fall in total revenue, therefore, Gaming Realms’ pre-tax loss fell year-on-year from £4.6m to £2.9m.

Patrick Southon, Chief Executive, said: “Our strategy moving forward is to leverage our real money gaming platform and our market leading 'Slingo Originals' games library into the UK and international gaming markets. 

“We believe that licensing our platform and content to leading brands and gaming operators will deliver high margin revenues, and we have been very pleased with the results of our efforts over the first half of 2018.”

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Nederlandse Loterij
Relax Gaming
Hoiana Resort & Golf
Tipico
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...