Gaming Realms revenue up 10% in H1

Total revenue grew 10 per cent from £7.7m to £8.5m year-on-year.

UK.- Gaming Realms has announced its interim results for the period to June 2022 and reported total revenue grew 10 per cent year-on-year from £7.7m to £8.5m in the first half of the year.

Group EBITDA grew 12 per cent to £3.5m2, representing a 41 per cent EBITDA margin. Excluding brand licencing, revenue grew 36 per cent from £6.0m to per cent 8.2m.

Total licencing revenues grew 15 per cent to £6.7m, with content licensing revenue up 57 per cent to £6.4m.

During the period analyzed, the company reported it granted an online gaming service supplier licence in Connecticut with a launch expected in the fourth quarter of the current year.

Gaming Realms has recently been awarded an igaming supplier licence in Ontario ahead of the launch of the regulated market on April 4. The company also launched in additional regulated markets in Spain and Denmark

As regards the following months, the company stated: “Gaming Realms has continued to progress during the first half of the year, with its core strategy of developing and licensing games globally to market-leading brands and operators delivering high margin revenues.

“This growth is expected to continue into the second half of the year as the Company matures in its key markets. In addition, the Group is aiming to launch in Connecticut, Portugal and Greece, as well as forecasting growth from the recently launched markets of Michigan, Pennsylvania, Ontario, Spain and the Netherlands.”

Michael Buckley, executive chairman, said: “The Group has delivered another period of strong growth supported by our ongoing expansion into newly regulated markets in North America and Europe, with content licensing revenue increasing by 57 per cent. 

“Whilst brand licensing declined in the period under review, as a result of the significant contract in last year’s comparative period, this was more than made up by increased income from our core content licensing. 

“The growth in licencing income has continued into the second half of this year, with licensing revenues for July and August 2022 being 53 per cent higher than the comparative months in 2021.

“We have also continued to expand on our existing partnerships, adding new content through our direct integration agreements, as well as signing new licensing deals and launching a series of new games.”