Gaming Realms achieves profitability for first time in Q3

Gaming Realms has revealed that it was able to achieve profitability for the first time during the three months to September 30.

Revenue in the third quarter totalled £9.1 million (€10.1 million/$11.2 million), up from £6.2 million in the same period last year.

Real-money net gaming revenue rocketed by 113% to £5.9 million, with social gaming and licensing revenue up 189% to £2.5 million

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) came in at $960,000, the first-ever positive result for the company.

Average monthly depositing players amounted to 53,928, while the number of new players was 51,884 in the period.

Patrick Southon, chief executive of Gaming Realms, said: “We are pleased with both the continued top line growth and our move into profitability for the first time, especially in a quarter in which we launched several new real money and social games.

“Our investment in our own platform is paying off through flexibility, reliability and greater player retention.

“We are delighted with the extended and growing list of partnerships with high profile media companies, opening up new audiences and sources of revenue.”

Related article: Gaming Realms hails mobile as revenue jumps in first half