Gaming Realms enters Softgamings deal with 2020 ahead of expectations

Developer and licensor of mobile focused gaming content Gaming Realms anticipates a heightened 2020 performance, after the firm published its latest trading update.

Following on from a trading update issued by the group on June 2, 2020, the firm, which entered a three-year agreement with Oryx Gaming earlier this month, assures that it “has continued to trade ahead of market expectations”.

During the first half of the year revenue for the group soared 61.2 per cent to £5m from the £3.1m recorded during the same period in 2019, with adjusted EBITDA coming in at approximately £1.2m as opposed to 2019’s £100,000 loss.

The performance in the period, the group says, is a result of the expansion of partners on an international basis, as well as the release of new Slingo games, which have had increased take up by consumers.            

Furthermore, whilst the revenue growth in the period was helped by the impact of COVID-19, trading during the seven weeks following the end of the reporting period, which was post lockdown, have maintained similar levels.

As a result of this, the Gaming Realms board expects revenue and EBITDA for the full year to December 31, 2020, to be materially ahead of current market expectations.

The update comes as online casino solutions provider Softgamings unveils a partnership with Gaming Realms to offer Slingo Originals under the terms of a three-year distribution deal that will see client’s of the former have an opportunity to offer the titles.

The content provider now features more than 33 original games as part of its stable, including the titles such as Slingo Rainbow Riches, Slingo Extreme, Slingo Deal or No Deal, and more.

Irina Sazonova, director of partnerships at SoftGamings, said of the partnership: “The newest content distribution deals that we signed with Slingo will definitely put a smile to our faces, as our clients will now have an opportunity to offer a unique set of iconic games that are exclusively offered by Slingo.

“We are delighted to welcome Slingo to our family of casino content providers and are looking forward to adding Slingo’s popular titles to our existing offer of games”.