Gaming Realms has lauded a “significant step forward” in becoming a global platform business, after documenting an increase in its 2020 full-year expectations in a pre-close trading update for the period to December 31, 2020.
The mobile focused game developer has announced that its expects 2020 revenue and adjusted EBITDA to be in the region of $11.2m and £3.1m, respectively, a slight increase on the £10.7m and £2.75m expectations communicated in December.
The jump comes as a result of a “record month in December,” driven by the company’s content licensing business which it says has “continued to go from strength to strength”.
Gaming Realms reports growth of more than 100 per cent during the year, boosted by 26 commercial tie-ups which include DraftKings in the US, as well as Sky Betting and Gaming and PaddyPower Betfair in the UK and Europe.
Michael Buckley, chairman of Gaming Realms, commented: “We are delighted with last year’s performance, which illustrates both the popularity of our games and our ability to licence multiple different partners. At the same time, we have taken a significant step forward to becoming a global platform business with multiple games, all of which is testament to our talented and motivated team.
“The combination of our excellent games portfolio, our existing distribution agreements with global partners and our strong pipeline of new partnerships, makes us optimistic about the significant opportunities ahead as we focus on our continued expansion and international growth.”
Subsequently, attention turns to the period that lies ahead, with a recent launch of Slingo content in Italy with both Goldbet and Sisal said to represent the continuance of the prior year’s momentum.
The US has also been a prime target of expansion during recent times, with a multi-state contract with BetMGM and provisional supplier licence by the Michigan Gaming Control Board the latest steps in its strategy.
Permitting Slingo Originals content to be provided to Michigan’s licenced online casino operators, and sitting alongside its New Jersey licence, Gaming Realms anticipates that Pennsylvania will become its next market of entry in the country.