{"id":5349,"date":"2024-09-11T09:52:39","date_gmt":"2024-09-11T08:52:39","guid":{"rendered":"https:\/\/www.gamingrealms.com\/?p=5339"},"modified":"2025-09-05T13:44:05","modified_gmt":"2025-09-05T13:44:05","slug":"gaming-realms-announces-its-interim-results-for-the-six-months-to-30-june-2024","status":"publish","type":"post","link":"https:\/\/gamingrealms.com\/news\/gaming-realms-announces-its-interim-results-for-the-six-months-to-30-june-2024\/","title":{"rendered":"Gaming Realms announces its interim results for the six months to 30 June 2024"},"content":{"rendered":"

Gaming Realms plc (AIM: GMR), the developer and licensor of mobile focused gaming content, is pleased to announce its interim results for the six months to 30 June 2024 (the “Period” or “H1’24”).<\/span><\/p>\n

Financial highlights:<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0 <\/span>\u00a0Total revenue grew 18% to \u00a313.6m in H1’24 (H1’23: \u00a311.5m)<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>\u00a0Group Adjusted EBITDA grew 21% to \u00a35.8m (H1’23: \u00a34.8m), representing a 43% Adjusted EBITDA margin (H1’23: 41%)<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>\u00a0Excluding brand licensing, the Group delivered adjusted EBITDA growth of 46% as operational leverage comes through<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>\u00a0Total licensing revenues grew 18% to\u00a0\u00a311.5m\u00a0(H1’23:\u00a0\u00a39.8m):<\/span><\/p>\n

\u2022\u00a0\u00a0 Content licensing revenue increased 28% to \u00a311.2m (H1’23: \u00a38.8m) with an EBITDA margin of 55% (H1’23: 54%)<\/span><\/p>\n

\u2022\u00a0\u00a0 Brand licensing revenue reduced 67% to \u00a30.3m (H1’23: \u00a31.0m) due to two brand deals completed in the same period of the previous year<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>\u00a0Profit before tax increased 51% to \u00a33.5m (H1’23: \u00a32.4m)<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>\u00a0Net cash at period end up 28% to \u00a39.6m (Dec’23: \u00a37.5m) with continued strong cash generation<\/span><\/p>\n

Operational highlights:\u00a0\u00a0<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>\u00a0Launched with 22 new partners globally:<\/span><\/p>\n

\u2022\u00a0\u00a0 In North America with FanDuel in Pennsylvania and Connecticut, Fanatics in New Jersey, Michigan and Pennsylvania and Atlantic Lottery Corporation (Canadian Maritime Provincial Lottery)<\/span><\/p>\n

\u2022\u00a0\u00a0 In Europe with Solverde in Portugal, DAZN in the UK and Livescore in the Netherlands<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>\u00a0Granted full iGaming Supplier License in West Virginia<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0<\/span>\u00a0Signed distribution agreement with Playtech which will lead to opportunities in Switzerland and the U.S. as well as other key partners in regulated markets<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>\u00a0Released 7 new games into the market, including\u00a0Slingo Capital Gains\u00a0and\u00a0Slingo Gold Cash. The Group now has 82 games in its portfolio (Dec’23: 75 games, Jun’23: 70 games)<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>\u00a0Increased unique players in the content licensing business by 24% to 3.5m (H1’23: 2.8m)<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>\u00a0Continued to grow the distribution business and launched content with ReelPlay, a second third-party slot studio<\/span><\/p>\n

Post period-end:<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>\u00a0Licensing revenue increased 33% in the two months post period-end compared to the same period in 2023<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>\u00a0Launched content in West Virginia, the fifth regulated U.S. state to which the Group supplies its content<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>\u00a0Granted iGaming Supplier License in British Columbia<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>\u00a0Launched Slingo Originals content with Danske Spil in Denmark, Betclic in Italy, Bet365 in Pennsylvania and Virgin Bet in the U.K.<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>\u00a0Released\u00a0Slingo Press Your Luck\u00a0as well as\u00a0Slingo Phillies\u00a0in partnership with BetMGM<\/span><\/p>\n

1<\/span><\/sup>\u00a0EBITDA is profit before interest, tax, depreciation and amortisation expenses and is a non-GAAP measure. The Group uses EBITDA and Adjusted EBITDA to comment on its financial performance. Adjusted EBITDA is EBITDA excluding share option and related charges.<\/span><\/p>\n

Summary:<\/span><\/p>\n

Gaming Realms has continued its growth through the first half of 2024, as the Company continues to execute on its core strategy of developing and licensing games globally to market-leading brands and operators delivering high-margin revenues.<\/span><\/p>\n

The first half of 2024 has seen the Group deliver another record performance in revenue and EBITDA, with core content licensing business revenues increasing 28% over the previous period, driven by 46% growth in revenues from North America.<\/span><\/p>\n

In total, we launched with 22 new partners and 7 new games in H1 2024, including premium game titles\u00a0Slingo Capital Gains\u00a0and\u00a0Slingo Gold Cash.\u00a0\u00a0<\/span><\/p>\n

Excluding brand licensing revenues, where there were two brand deals completed in the prior period, Group Adjusted EBITDA increased 46% to \u00a35.4m (H1’23: \u00a33.7m), demonstrating the growth within our core business.<\/span><\/p>\n

Outlook for FY24:<\/span><\/p>\n

Looking ahead, the Group is well placed to capitalise on this momentum and deliver further growth in new and existing markets.<\/span><\/p>\n

Our focus for the remainder of the year is to further expand our international presence in new markets, while continuing to grow in existing markets with our partners.\u00a0<\/span><\/p>\n

In August we launched our content in West Virginia, the fifth regulated iGaming state the Group’s content is distributed in. After the period end, the Group was also granted an iGaming supplier license in British Columbia, where we expect to launch our content shortly.<\/span><\/p>\n

These market expansions will be supplemented by premium game launches in the second half of 2024 including\u00a0Slingo Fowl Play\u00a0and\u00a0Slingo Press Your Luck.<\/span><\/p>\n

The Board remains optimistic around FY24 financial performance.<\/span><\/p>\n

Commenting on the first half performance, Mark Segal, Chief Executive Officer, said:<\/span>\u00a0<\/span><\/p>\n

“We are delighted with our strong performance in the first half of 2024, with total revenue increasing by 18% to \u00a313.6 million. Our focus on expanding our content licensing business has led to a 28% revenue growth and the successful launch of seven new games. These results reflect our commitment to innovation and solidify our position in the gaming industry.<\/span><\/p>\n

“The achievements of the first half demonstrate the dedication of our team and the appeal of our unique gaming offerings. We are poised for further growth as we continue to expand into new markets, launch with new partners and strengthen our existing partnerships.”<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Gaming Realms plc (AIM: GMR), the developer and licensor of mobile focused gaming content, is pleased to announce its interim results for the six months to 30 June 2024 (the “Period” or “H1’24”). Financial highlights: \u00b7\u00a0\u00a0\u00a0\u00a0 \u00a0Total revenue grew 18% to \u00a313.6m in H1’24 (H1’23: \u00a311.5m) \u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Group Adjusted EBITDA grew 21% to \u00a35.8m (H1’23: \u00a34.8m), […]<\/p>\n","protected":false},"author":1,"featured_media":5740,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-5349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/gamingrealms.com\/wp-json\/wp\/v2\/posts\/5349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gamingrealms.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gamingrealms.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gamingrealms.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gamingrealms.com\/wp-json\/wp\/v2\/comments?post=5349"}],"version-history":[{"count":1,"href":"https:\/\/gamingrealms.com\/wp-json\/wp\/v2\/posts\/5349\/revisions"}],"predecessor-version":[{"id":5759,"href":"https:\/\/gamingrealms.com\/wp-json\/wp\/v2\/posts\/5349\/revisions\/5759"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gamingrealms.com\/wp-json\/wp\/v2\/media\/5740"}],"wp:attachment":[{"href":"https:\/\/gamingrealms.com\/wp-json\/wp\/v2\/media?parent=5349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gamingrealms.com\/wp-json\/wp\/v2\/categories?post=5349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gamingrealms.com\/wp-json\/wp\/v2\/tags?post=5349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}