5 February
2024
Gaming Realms
Plc
("Gaming Realms",
the "Company" or the "Group")
Pre-Close Trading
Update
Record Year
FY23 Record Revenue and
adjusted EBITDA* with Growth of 23% and 28%
respectively
Gaming
Realms plc (AIM: GMR), the developer and licensor of mobile focused
gaming content, is delighted to announce its pre-close trading
update for the full year to 31 December 2023 ("FY23").
The
Company is pleased to confirm that it expects to report FY23
revenue of c.£23 million and adjusted EBITDA* of not less than
£10.0 million, up 23% and 28% respectively year-on-year, in line
with Board's expectations. The Company ended the year with £7.5
million of net cash.
This
strong performance has been predominantly driven by content
licensing, with growth across all major markets. During the year,
Gaming Realms went live with a further 44 partners across all its
markets. In terms of geographic expansion, the Company was pleased
to obtain licenses to supply its games into West Virginia's igaming
market, the Group's seventh license in North America, as well as
Greece. The Company expects to launch in both these markets in the
coming months.
Continuing the Company's association with high profile
entertainment brands, in Q4 2023, Gaming Realms launched
Slingo Space Invaders and
Tetris Slingo,
collaborating with two of the most iconic games brands of their
generations. Gaming Realms
also collaborated with Paddy Power to launch Slingo Bingoton, which was the best
new launch on the Paddy Power Bingo platform in 2023.
The
Company expects to report its FY23 Preliminary Results during the
week commencing 1 April 2024.
Mark Segal, Chief Executive of Gaming Realms,
commented:
"I am delighted
to report on the exceptional year Gaming Realms has experienced.
Our growth in FY23, with a 23% increase in revenue and a 28% rise
in adjusted EBITDA, underscores the strength and appeal of our
gaming content in the global market.
"The expansion into new territories and the addition of 44 new
partners demonstrates our commitment to broadening our reach and
enhancing player experiences. As we look ahead, we remain focused
on delivering engaging content and expanding our footprint in key
markets, ensuring that Gaming Realms continues to be a leader in
the mobile gaming industry. We look forward to the future and the
current year's performance with confidence."
*EBITDA before share-based payments and adjusting
items
Enquiries:
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Gaming Realms plc
Michael Buckley, Executive
Chairman
Mark Segal, CEO
Geoff Green, CFO
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0845 123 3773
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Peel
Hunt LLP - NOMAD and Joint Broker
George Sellar
Andrew Clark
Lalit Bose
Investec Bank plc - Joint Broker
Bruce Garrow
Ben Farrow
Lydia Zychowska
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020 7418 8900
020 7597 5970
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Yellow Jersey
Charles Goodwin
Annabelle Wills
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07747 788 221
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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.