Gaming Realms Anticipates Significant H1 2023 Revenue Increase
Gaming Realms, the digital gaming company, has released a pre-close trading update indicating an estimated £11.4 million in revenue for H1 2023. This projection translates into a substantial 34% increase compared to the same period in the previous year.
Furthermore, the company's adjusted EBITDA is anticipated to reach approximately £4.6 million, indicating a 32% increase on an annual basis for the first half of the year.
Partnerships and Slingo Driving he Growth
The company has credited its anticipated growth to the establishment of 25 new partnerships, alongside the launch of five new Slingo games during this timeframe.
We are delighted to report strong performance in the first half of 2023, demonstrating our ability to deliver consistent growth from our ever-expanding games portfolio across existing and new markets. As we advance into the second half of 2023, we believe the momentum will continue, backed by our strong commercial pipeline, and that we will meet our full-year targets.
European Expansion and New Brand Licences
In its European operations, Gaming Realms signed deals with bet365 in the UK, 888 in Romania and Spain, Betflag in Italy, and Betsson and Mr Green casino in Denmark. The company has also received a license from the Swedish Gaming Authority (Spelinspektionen), suggesting an imminent entry into the Swedish market.
Furthermore, Gaming Realms has added to its portfolio with the acquisition of brand licenses for Tetris and Taito’s Space Invaders, while a fresh agreement with Entain led to the latter’s launch of Slingo Bingo in May.