Gaming Realms continues growth as finances jump in Q1

Gaming Realms has revealed that is was able to follow up on a successful 2015 by securing further financial growth during the three months through to March 31 of this year.

Revenue in the first quarter came in at £7.5 million (€9.5 million/$10.9 million), an increase of 100% on the £3.8 million achieved in the corresponding period last year.

Real-money gambling revenue was up 128% year-on-year to £4.2 million, while revenue from the company’s social and licensing operation rocketed 643% to £2 million.

Gaming Realms also noted that the total of new depositing players in the period increased 73% year-on-year to 62,106, with 81% of real-money customers using mobile devices to access gaming services.

The results come on the back of a financially successful 2015, during which the firm saw revenue jump 116% to £21.4 million, with real-money gaming revenue up 305% to £10.8 million.

Patrick Southon, chief executive of Gaming Realms, said: “The launch of our proprietary platform at the start of 2015 and acquisition of Slingo IP and games has transformed the business and our content proposition.

“The progress made at the start of 2016, with a number of licence agreements in place with major brands and media publishing companies, means that Gaming Realms is opening up a number of new channels to market its games across both real money and social segments.

“The group is on track to continue its targeted growth for the year.”

Related article: Gaming Realms claims 116% revenue increase in 2015