Content licensing and market expansion drive growth at Gaming Realms in H1

In a trading update Gaming Realms says H1 revenue will hit £13.5m (€16.0m/$17.4m) for the six months to 30 June.

This was underpinned by a 28% year-on-year increase in revenue for its core content licensing business, with 22 new clients signed up and seven new Slingo titles launched over the period.

In North America this included launches with FanDuel in Pennsylvania and Connecticut and with Fanatics in Michigan, New Jersey and Pennsylvania.

In Europe Gaming Realms diversified its reach with Slingo rollouts in Italy and Romania with PokerStars and LiveScore Bet in the Netherlands. Solverde added Slingo in Portugal, with DAZN and VirginBet – another LiveScore brand – rolling out the games in the UK, while DAZN and Entain added the games to their Spanish offerings.

Gaming Realms did not provide any updates on its brand licensing or social publishing units in the interim results.

EBITDA up, but growth skewed by exceptional item in H1 2023

Adjusted earnings before interest, tax, depreciation and amortisation came to £5.8m for Gaming Realms in H1, a 21% year-on-year increase.

However growth figures are skewed by a one-off £600,000 addition to its brand licensing figures in the first half of 2023. Excluding this figure, adjusted EBITDA was up 45% in the first half.

Gaming Realms on track to hit full-year targets

Such was its success in H1, Gaming Realms said it is on track to meet its full-year targets, without providing clarity on where it expects revenue and earnings hit in 2024.

However this would suggest it is confident of beating its record 2023 figures, when revenue hiked 25.6% to £23.42m.

“We are delighted with our strong performance in H1 of 2024,” CEO Mark Segal said. “This was driven by the growth in our core content licensing business. Our expansion into new markets and the successful launch of new games with new and existing partners underscore the strength of our strategy. 

“Looking ahead, we are confident in our ability to maintain this momentum and meet our full-year targets.”

Gaming Realms expects to announce its full results for the first half on the week of 9 September 2024. Shares in the supplier are trading up 7.34% at 39.93 pence per share in London at the time of writing.