Gaming Realms is hoping that a “strong commercial pipeline” will enable the company to achieve full-year targets following the publication of a pre-close trading update for the half year to June 30, 2023.
This has seen the company report an expectation to reach revenue in the region of £11.4m through the time frame, which would represent an increase of 34 per cent. It is anticipated that adjusted EBITDA will reach £4.6m, up 32 per cent.
The group’s performance through the six month period is aligned to the continued growth of the group’s licensing business, which enhanced market share across numerous jurisdictions via the addition of 25 partners and five additional Slingo titles.
Detailing progress across North America, Gaming Realms cited an array of highlights, which include Slingo Originals launches via Betway, OLG and LeoVegas in Ontario, Flutter Entertainment’s Pokerstars in New Jersey and the Boyd Gaming owned Stardust Casino in Pennsylvania.
This momentum was also evidenced across Europe, with a Swedish B2B certification complemented by tie-ups with Bet365 in the UK, 888 in Romania and Spain, Betflag in Italy and Betsson and William Hill’s Mr Green in Denmark.
Furthermore, optimism is also expressed at a pair of licensing agreements for Tetris and Space Invaders, which are expected to launch during Q4, in addition to an alliance with Entain regarding Slingo Bingo that was developed in-house with UK exclusivity and went live in May 2023.
“We are delighted to report strong performance in the first half of 2023, demonstrating our ability to deliver consistent growth from our ever-expanding games portfolio across existing and new markets,” commented Mark Segal, Chief Executive Officer of Gaming Realms.
“As we advance into the second half of 2023, we believe the momentum will continue, backed by our strong commercial pipeline, and that we will meet our full year targets.”
As a result of the above, Gaming Realms’ board had stressed confidence that the group is on track to meet its full-year targets. Interim results are to be published during the week commencing September 11, 2023.