Gaming Realms announces FY21 growth of 27%
New regulated market launches help mobile-focused developer and licensor to strong annual results
Gaming Realms has announced a pre-close trading update for the full year to 31 December 2021 (FY21) in which it expects to report FY21 revenue of £14.5m and adjusted EBITDA of £5.6m.
The two results represent year-on-year growth of 27% and 70% respectively, with this strong performance being driven by the growth of the group’s licensing business, which last year launched in the regulated US markets of Michigan and Pennsylvania and with 35 new partners internationally.
As a developer and licensor of mobile-focused gaming content, Gaming Realms’ continued expansion into further new markets in Q4 2021 has also helped the company continue its positive momentum into Q1 2022, with several European partnerships contributing to its continued growth.
In November 2021, a collaboration with Romania’s largest digital and retail betting operator, Superbet, saw Gaming Realms enter the Romanian igaming market for the first time, with the deal seeing Superbet publish the company’s extensive range of Slingo content.
This European expansion was further bolstered in December 2021, when Gaming Realms went live with JVH gaming and entertainment group in the newly-regulated Dutch market under the Jack’s Casino brand, and again in January 2022, when the group completed a long-term strategic partnership with Gamesys to launch an initial 15 games in the regulated Spanish market.
Speaking on the company’s FY21 performance and the factors that contributed to it, Michael Buckley, executive chairman of Gaming Realms, commented: “We are delighted with the performance in 2021, where we launched in new markets and increased the distribution of our expanded Slingo portfolio.
“We have a strong pipeline of opportunities and the outlook is very encouraging, with further expected expansion of our international footprint coupled with additional deals within the markets where our content is already distributed. We believe that the strong momentum of last year will continue into 2022, which is demonstrated by the entry into regulated markets announced today.”