Gaming Realms sees revenue rise 66% for H1
Gaming Realms has seen its H1 revenue grow 66% year-on-year and net loss significantly reduced during the period.
Total revenues for the supplier rose to £5.2m ($6.7m) for the six months to 30 June. Of that, revenue from licensing to third party partners increased by 104% to £3.4m, while social gaming revenue was up 29% to £1.8m.
The supplier attributed the rise in licensing revenue due to an increase in distribution and an expanded games portfolio, while admitting it benefited from the effects of the coronavirus lockdown, which saw a rise in online gaming.
That helped net loss for the period fall 80% down to £629,697, while EBITDA increased from £0.1m in 2019, to £1.24m for H1 2020.
Gaming Realms also expanded its offering by going live with tier one operators Gamesys, Sky Betting & Gaming and 888 Casino in the UK, DraftKings in New Jersey and the US, as well as Caliente in Mexico.
Additionally, the supplier released four new games taking its portfolio to 40 titles.
Gaming Realms executive chairman Michael Buckley, said: “Whilst our results were enhanced during the COVID-19 period of self-isolation, I am pleased to say revenues in the second half are holding onto levels achieved during the first six months.
“The Group is currently performing in line with market expectations and, with a number of new commercial developments in the pipeline, the board is confident in the future performance of the business.”
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