Gaming Realms has initiated a pair of c-level changes amid reflections of “another strong, full-year performance” that sees the igaming firm laud “growth coming from both existing and new markets”.
This comes as the group disclosed an expectation to report revenue and adjusted EBITDA during the past year of approximately £18.7m and £7.7m, which would represent an increase of 27 per cent and 36 per cent, respectively.
This, said the company, was due to the continued growth of the licensing business that has launched into two new North American regulated igaming markets, namely Connecticut and Ontario, and with 58 new partners internationally.
Furthermore, the firm, which noted that it has repaid its outstanding loan to JPJ Group, has also disclosed board changes as a result of “continued development and growth”.
This has seen Mark Segal become Chief Executive Officer, with Geoff Green named Chief Financial Officer and a Director, each of which are undertaken on an immediate basis.
“The board believes that these changes will enable the Company to continue the progress of the last three years, as it develops more fully in the territories where it is already represented, and seeks to expand into additional countries and regions,” Gaming Realms noted.
Michael Buckley, Executive Chairman of Gaming Realms, explainted: “This growth has been supported by the new partnerships signed with igaming operators as well as the extension of our Slingo catalogue, with the release of new Slingo formats during the period, which have proven to be very popular.
“We are seeing good momentum, and backed by an exciting commercial pipeline and new games, we are confident that we will achieve further progress in 2023.
“As stated above, the company has repaid the outstanding loan from JPJ Group Holdings Limited. This was repaid from internal cash resources, which demonstrates the highly cash generative qualities of Gaming Realms, and leaves the company debt free.
“We are also delighted to announce that Mark and Geoff have been appointed CEO and CFO respectively. They have developed a strong working partnership in recent years whilst the business has achieved excellent growth. The board is excited to be working with them in their new roles and supporting the company’s ongoing commercial objectives.”