TIDMGMR
RNS Number : 4766O
Gaming Realms PLC
01 February 2023
1 February 2023
Gaming Realms Plc
("Gaming Realms", the "Company" or the "Group")
Pre-Close Trading Update and Board Changes
FY22 Revenue and EBITDA* Growth of 27% and 36% Respectively
Driven by Growth in Licensing
Pre-Close Trading Update
Gaming Realms plc (AIM: GMR), the developer and licensor of
mobile focused gaming content, announces a pre-close trading update
for the full year to 31 December 2022 ("FY22").
The Company is pleased to confirm that it expects to report FY22
revenue of c.GBP18.7 million and adjusted EBITDA* of c.GBP7.7
million, up 27% and 36% respectively year-on-year. This strong
performance was driven by the continued growth of the Group's
licensing business that, during FY22, launched in two new North
American regulated iGaming markets, Connecticut and Ontario, and
with 58 new partners internationally.
The Group's expansion into further new markets during Q4 FY22,
as set out below, has continued into Q1 FY23.
The Company expects to report its FY22 Preliminary Results
during the week commencing 3 April 2023.
Q4 2022 Update
The Company had a strong Q4, launching in multiple markets and
with new partners. In October 2022, Gaming Realms launched in its
5(th) North American market in Connecticut, with DraftKings .
Also in Q4 2022, Gaming Realms launched games with 11 operators
across its 5 markets in North America, including Caesars Sportsbook
and 888 in New Jersey, Kindred in Pennsylvania, Four Winds in
Michigan, and Ballys and Pointsbet in Ontario.
Increasing its European presence, Gaming Realms went live with
11 operators in Europe, including tier 1 operators Napoleon in
Belgium, Snai in Italy and Pokerstars in the UK.
Gaming Realms also repaid its outstanding loan to JPJ Group
Holdings Limited (a wholly owned subsidiary of Bally's
Corporation), leaving the Company debt free.
Board Changes
In light of the continued development and growth of the Company,
Gaming Realms has appointed Mark Segal as CEO, and Geoffrey
("Geoff") Robert Green, aged 34, as CFO and a director of the
Company, both with immediate effect.
Previously Mark Segal was CFO and acting COO, and Geoff Green
was finance director in support of the CFO, and they have been
successfully working together for more than three years. Michael
Buckley remains as Executive Chairman.
The Board believes that these changes will enable the Company to
continue the progress of the last three years, as it develops more
fully in the territories where it is already represented, and seeks
to expand into additional countries and regions.
Michael Buckley, Executive Chairman of Gaming Realms, commented:
"The Company has delivered another strong, full-year performance
with growth coming from both existing and new markets. This growth
has been supported by the new partnerships signed with igaming
operators as well as the extension of our Slingo catalogue, with
the release of new Slingo formats during the period, which have
proven to be very popular. We are seeing good momentum, and backed
by an exciting commercial pipeline and new games, we are confident
that we will achieve further progress in 2023.
"As stated above, the Company has repaid the outstanding loan
from JPJ Group Holdings Limited. This was repaid from internal cash
resources, which demonstrates the highly cash generative qualities
of Gaming Realms, and leaves the company debt free.
"We are also delighted to announce that Mark and Geoff have been
appointed CEO and CFO respectively. They have developed a strong
working partnership in recent years whilst the business has
achieved excellent growth. The Board is excited to be working with
them in their new roles and supporting the Company's ongoing
commercial objectives."
*EBITDA before share-based payments
Enquiries:
Gaming Realms plc
Michael Buckley, Executive Chairman
Mark Segal, CFO 0845 123 3773
Peel Hunt LLP - NOMAD and Joint Broker
George Sellar
Andrew Clark
Lalit Bose 020 7418 8900
Investec Bank plc - Joint Broker
Bruce Garrow
Alex Wright
Ben Farrow 020 7597 5970
Yellow Jersey
Charles Goodwin
Annabelle Wills 07747 788 221
About Gaming Realms
Gaming Realms creates and licenses innovative games for mobile,
with operations in the UK, U.S. and Canada. Through its unique IP
and brands, Gaming Realms is bringing together media, entertainment
and gaming assets in new game formats. The Gaming Realms management
team includes accomplished entrepreneurs and experienced executives
from a wide range of leading gaming and media companies.
Pursuant to Rule 17 and Schedule 2, paragraph (g) of the AIM
Rules for Companies, the following additional information is
disclosed:
Geoff Green currently has options over 550,000 ordinary shares
in the Company
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