Its core product is the Slingo range of slots and casino games, with various genres of Slingo games created for partners around the world.
How it’s doing
Gaming Realms said it expects revenues of around £11.2mln and adjusted earnings (EBITDA) of £3.1mln for the year to December 31 following what it said was a “record month” in December thanks to its content licensing business.
In a trading update for the year to December 31, the developer of mobile gaming content said its content licensing arm has grown by over 100% during the year, launching with 26 new partners including tier-one operators such as DraftKings in the US as well as Sky Betting & Gaming and PaddyPower Betfair in the UK and Europe.
Gaming Realms said this positive momentum has continued into the start of 2021 alongside the development of its US strategy with the signing of a number of key contracts including a multi-state deal with BetMGM as well as the granting of a provisional supplier licence by the Michigan Gaming Control Board.
What the boss says: executive chairman Michael Buckley
“We are delighted with last year’s performance, which illustrates both the popularity of our games and our ability to licence multiple different partners.
“At the same time, we have taken a significant step forward to becoming a global platform business with multiple games, all of which is testament to our talented and motivated team.”
What the broker says: Peel Hunt
Gaming Realms launches in the US states of Pennsylvania and Michigan in 2021 and this can potentially transform the numbers, said Peel Hunt, while territories such as Italy and Spain have yet to be tapped.