Mobile focused game developer Gaming Realms has elaborated on its ongoing US ambitions, in addition to issuing an update on full-year expectations, as the firm issues a trading statement ahead of its year-end report.
Since updating the market on September 8, 2020, when documenting its performance through the first half of the year, Gaming Realms reports that business performance and sales momentum has continued the trend demonstrated throughout the first eight months of the year.
As a result, revenue for the full year is expected to be £10.7m, which would represent a 45 per cent increase year-on-year. Subsequently, the group also anticipates adjusted EBITDA of no less than £2.75m for the year ended 31 December 2020.
This strong performance, says Gaming Realms, is due to the expansion of international partners, the release of new Slingo games, and improvements to the group’s technology.
In the second half of the reporting period, the firm has gone live with five new partners, including Paddy Power and Betfair in Europe, and launched four Slingo titles, including a Slingo Fluffy Favourites which scooped that Slot of the Week prize from SlotBeats in October.
Alongside this, Gaming Realms, which has asserted confidence in achieving further progress during 2021, issued an update on its ongoing US-based efforts.
After stating earlier in the year that an expanded network across the country is a clear ambition, the company has subsequently applied for licenses in Pennsylvania and Michigan, and hopes to launch in the two states during the first half of 2021.
Intending to also make further license applications in the country as more states move to regulate online casinos, the moves come as Gaming Realms aims to reduce its dependency on the UK market.
