Gaming Realms cites US entry for 2021 ‘strong performance’

Gaming Realms has cited its launch into two US markets as a driving factor of its “strong performance” in the company’s FY21 results.

Gaming Realms has cited its launch into two US regulated igaming markets as a driving factor of its “strong performance” in the company’s end of year pre-closing update. 

To the period ending December 31, 2021, the mobile focused gaming content developer revealed that its FY21 revenue is expected to total £14.5m, up 27 per cent from the previous year. 

In addition to its revenue, the company’s adjusted EBITDA rose 70 per cent from 2021 as it came in at $5.6m.

Michael Buckley, executive chairman of Gaming Realms, commented: “We are delighted with the performance in 2021, where we launched in new markets and increased the distribution of our expanded Slingo portfolio. 

“We have a strong pipeline of opportunities and the outlook is very encouraging, with further expected expansion of our international footprint coupled with additional deals within the markets where our content is already distributed. 

“We believe that the strong momentum of last year will continue into 2022 which is demonstrated by entry into regulated markets announced today.”

Lauding its entry into the US via Michigan and Pennsylvania, Gaming Realms also noted that its 2021 rise was aided by the 35 partnerships agreed internationally throughout the year.

In November 2021, Gaming Realms entered the regulated Romanian igaming market through an agreement with Superbet. The deal saw the operator publish the developer’s Slingo content in the country’s regulated market, including Slingo Extreme, Red Hot Slingo, as well as its most recent release Slingo Sweet Bonanza.

Following this, Gaming Realms continued its expansion in December when it linked-up with JVH gaming and entertainment group in the newly regulated Dutch market under the Jack’s Casino brand. 

Initially, Jack’s Casino is set to offer 15 Slingo games to its Dutch player base, with further agreements with other licensed operators agreed and scheduled through Q1 2022.

The company’s momentum at the back end of 2021 also carried into 2022 as the group entered the Spanish regulated market via a long-term strategic partnership with Gamesys – now part of Bally’s Corporation – under its Monopoly and Botamania brands. 

An initial fifteen games have been approved for launch in this market. Following a short exclusivity period with Gamesys, Gaming Realms will also launch its Slingo portfolio with Rank Group‘s YoBingo and YoCasino brands in the Spanish market.

The company expects to report its FY21 preliminary results during the week commencing April 25, 2022.