Gaming Realms sees licensing revenue growth continue into Q2

Mobile games developer Gaming Realms has reported that the first quarter's revenue growth has continued into the first two months of the second, aided by continued growth in content licensing operations.

Gaming Realms did not disclose any financial figures at this stage, but did say that licensing revenue for the two month period was up 80% year-on-year. Revenue from the social division, meanwhile, was up 15% from the same period in the prior year.

This comes after the developer in April provided an update on its first quarter performance, which revealed a 90% increase in licensing revenue.

Gaming Realms said this ongoing growth had been aided by new partners such as 888 Casino and Sky Betting & Gaming in the UK, as well as a deal with DraftKings in the US. The games, when launched, proved especially popular with operator clients' customers, while three new Slingo games were rolled out in the year to date.

As a result of this performance, Gaming Realms said it expects earnings before interest, tax, depreciation and amortisation for year ending 31 December 2020 to be significantly ahead of current market expectations.

Gaming Realms plans to publish its interim results for the six months ended 30 June in September this year.

In April, Gaming Realms also announced its full-year results for 2019, revealing a comprehensive loss of £5.4m, despite its licensing business driving a year-on-year increase in revenue.

Total continuing revenue for the 12 months to 31 December 2019 amounted to £6.9m, up by 11.3% from £6.2m in the previous year. Licensing revenue accounted for the majority of this overall total, with the £4.1m generated in 2019 being 86.4% higher than £2.2m 2018.