Gaming Realms forecasts 55% revenue growth for 2020

| By Robert Fletcher
Online gambling content developer and distributor Gaming Realms has revealed that it expects revenue for its 2020 full year to increase 55% year-on-year, due to continued growth among its network of international partners.

Based on its performance and sales momentum in the period since publishing its first-half results in September, the developer said revenue for the 12 months to 31 December should reach £10.7m (€11.8m/$14.3m).

As a result, Gaming Realms said it also expects adjusted earnings before interest, tax, depreciation and amortisation to reach at least £2.7m for the year.

Analysing its performance in 2020, the developer said this forecast growth is down to the expansion of its partners around the world, as well as the launch of new Slingo games, and improvements across its other technologies.

Gaming Realms also noted that it has so far gone live with five new partners in the second half of 2020 – including Paddy Power Betfair in Europe – and rolled out four new titles using the Slingo mechanic.

This came after Gaming Realms in the first half went live with Gamesys, Sky Betting & Gaming and 888 Casino in Great Britain, as well as with DraftKings in New Jersey in the US and Caliente in Mexico.

In addition, the developer has applied for licences in Pennsylvania and Michigan in the US, with the aim of launching in these states during the first half of 2021.

For the first six months of the year, revenue reached £5.2m, up 65.9% on the same period in 2019, as the developer noted growth in a number of business sectors.

Revenue from licensing its content to third party partners reached £3.4m, up 103.5% on last year, while social gaming revenue rose 29.4% to £1.8m.

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