Gaming Realms expects H1 2023 revenue to climb 34% on licensing gains

Gaming Realms has confirmed expected half year 2023 revenue of £11.4m, up 34% year-on-year (YoY) in its latest pre-close trading update.

The licensing and game supplier also confirmed expected adjusted EBITDA growth of 32% over the same period, attributing the increase to the continued growth of its licensing business, which went live with 25 new partners during H1, launching five new versions of its Slingo games.

In North America, Gaming Realms launched its Slingo Originals portfolio with Betway, OLG (Provincial Lottery) and LeoVegas in Ontario, Pokerstars in New Jersey, and Stardust Casino in Pennsylvania.

In Europe, Slingo went live with Bet365 in the UK, 888 in Romania and Spain, Betflag in Italy, and Betsson and Mr Green Casino in Denmark. In addition, Gaming Realms was granted a B2B supplier licence in Sweden by the Swedish Gambling Authority (SGA).

Gaming Realms has also signed a licensing deal with Entain to launch Slingo Bingo, an in-house-developed title which went live with Entain in May 2023.

The supplier also secured brand licensing agreements for iconic video games Tetris and TAITO’s SPACE INVADERS, with Gaming Realms expected to launch slots-based versions of these games in Q4.

“This strong momentum in the period gives the board confidence that the company is on track to meet its full-year targets,” the supplier said in its update.

These sentiments were echoed by Gaming Realms CEO Mark Segal, who welcomed the growth trajectory of the company over the H1 period.

“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,” Segal said.

“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,” he added.