Gaming Realms announces new CEO and CFO as FY22 EBITDA expected to leap 36%
CFO Michael Segal promoted to chief exec while former BDO head Geoff Green named as CFO
Gaming Realms has appointed Mark Segal as its new CEO and Geoff Green as CFO as the group looks to capitalise on a strong full-year 2022 performance.
Segal steps up after serving as CFO for nearly a decade at the supplier while former finance director Green will join the C-suite after closely working with Segal during his tenure.
Segal joined Gaming Realms as CFO in May 2013. Prior to that he was finance director at Cashcade Limited for eight years.
Green joined Gaming Realms three-and-a-half years ago, initially as group financial controller, following more than eight years at BDO UK LLP.
Michael Buckley, executive chairman of Gaming Realms, said he was “delighted” with the appointments of Segal and Green.
Buckley said: “They have developed a strong working partnership in recent years whilst the business has achieved excellent growth. The board is excited to be working with them in their new roles and supporting the company’s ongoing commercial objectives.”
Delivering a financial update to the market, Gaming Realms championed a strong Q4 2022 and noted full-year 2022 revenue and EBITDA was expected to significantly increase.
Full-year 2022 revenue is expected to jump 27% to £18.7m while EBITDA is set to increase by 36% to £7.7m.
Gaming Realms said that its North American expansion in Connecticut and Ontario, along with the addition of 58 new international partners, were key drivers of the business.
Gaming Realms also announced it had repaid its loan to JPJ Group Holdings, leaving the company debt free.
Buckley added: “The company has delivered another strong, full-year performance with growth coming from both existing and new markets.
“We are seeing good momentum and backed by an exciting commercial pipeline and new games, we are confident that we will achieve further progress in 2023.”