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Gaming Realms reports revenue growth of 26% for 2023

Updated:2024-04-03 07:59    Views:98

Gaming Realms has released its annual financial results for the year ending 31 December 2023, alongside key highlights from the first quarter of 2024, showcasing notable performance metrics and operational achievements in the mobile gaming content sector.

For the fiscal year 2023, Gaming Realms reported a 26% increase in revenue, amounting to £23.4m ($29.3m), up from £18.7m in the previous year.

This growth was primarily driven by a 33% surge in licensing revenue, reaching £19.9m, partially offset by a 5% decline in social publishing revenue to £3.5m. Adjusted EBITDA also saw a notable increase of 29%, totalling £10.1m, with EBITDA reaching £9.2m.

Operationally, Gaming Realms expanded its portfolio of proprietary games on its remote game server to 75 titles, up from 65 in the previous year.

The company secured iGaming Supplier Licences in West Virginia, Sweden and Greece, marking progress in regulatory compliance and market access. 

Additionally,Online Casino Games for Real Money Gaming Realms launched its products in the regulated Portuguese market and partnered with 44 new operators for Slingo Originals content, including prominent names like Bet365, Betclick and OLG.

In Q1 2024, Gaming Realms continued its positive momentum with revenue meeting management expectations. Notable highlights include partnerships with 14 new operators, including Livescore and Dazn in the UK, bet365 in Ontario and Entain in Spain.

The supplier also introduced three new Slingo games, such as China Shores Slingo and Slingo Capital Gains, expanding its gaming portfolio.

Gaming Realms CEO Mark Segal said: “I am delighted to present another record year for Gaming Realms. Driven by the growing demand for our Slingo portfolio in the international iGaming markets, revenue grew by 26% with adjusted EBITDA growing 29%. This demonstrates the operational leverage driven by our content licensing business.” 

In December 2023, Gaming Realms collaborated with Paddy Power to launch Slingo Bingoton, a period drama slot game and partnered with Sky Betting & Gaming to release Slingo Full House, a new bingo-inspired game.