Gaming Realms expects revenue and earnings growth for 2023
In a trading update, Gaming Realms said revenue in 2023 is expected to amount to £23.0m (€26.9m/$29.0m). Should the developer reach this amount, it would be 23% higher than in the previous year.
There is also an expected rise in EBITDA, with this forecast to be no lower than £10.0m. This would be up 28% on the total reported in 2022.
Gaming Realms said both expected increases would be in line with board expectations for the year, with the performance mainly driven by content licensing. The developer adds that it reported growth across all major markets.
During 2023, Gaming Realms went live with a further 44 partners in markets around the world. Other key highlights included an igaming licence in West Virginia, its seventh in North America, and another in Greece. Launches are planned for both markets during the coming months.
In addition, Gaming Realms continued its work with high profile entertainment brands. In Q4, it launched Slingo titles based on classic video games Space Invaders and Tetris.
Gaming Realms CEO hails ongoing expansion
Reflecting on the preliminary results, Gaming Realms CEO Mark Segal praised the figures for 2023. He said the ongoing commitment to expansion into new markets remains key for the developer.
“I am delighted to report on the exceptional year Gaming Realms has experienced,” Segal said. “Our growth in FY23, with a 23% increase in revenue and a 28% rise in adjusted EBITDA, underscores the strength and appeal of our gaming content in the global market.
“The expansion into new territories and the addition of 44 new partners demonstrates our commitment to broadening our reach and enhancing player experiences.
“As we look ahead, we remain focused on delivering engaging content and expanding our footprint in key markets, ensuring that Gaming Realms continues to be a leader in the mobile gaming industry.
“We look forward to the future and the current year’s performance with confidence.”
Gaming Realms plans to report its 2023 results in full during the week commencing 1 April.