Gaming Realms posts 50% H1 revenue rise

Gaming Realms has posted a 50% year-on-year increase in total revenue for the first half of 2021. The AIM-listed firm reported H1 2021 revenue of £7.7m, up from £5.2m accrued in the same period of 2020, driven by a 73% revenue increase in licensing from £3.4m to £5.8m. Content licensing revenue grew by 39% year-on-year to £4.1m, an increase the firm attributed to greater distribution from an expanded games portfolio. Brand licensing revenue rose by triple digits during H1 (298%) to £1.7m. The group’s social publishing revenue also grew during the period by 7%, from £1.8m in 2019 to £1.9m in H1 2021. Gaming Realms also posted adjusted EBITDA of £2.7m for H1, a 116% increase on 2020. The firm made several key strides during H1 by gaining licences in Michigan and Pennsylvania as well as distribution and licensing deals with GAN and IGT respectively. Gaming Realms also launched its Slingo brand content in the Italian market, in partnership with Goldbet and Sisal, with further European launches planned for the second half of 2021. Gaming Realms executive chairman Michael Buckley said: “The group has delivered an excellent first half, both in terms of significant earnings growth and new licensing and distribution agreements. “Having recently launched in Michigan and Pennsylvania, the group is now working to capitalise on the significant opportunities in these markets. “We are also looking to strengthen our position in Europe through launches in other regulated markets following the encouraging response we have seen from players in Italy for our Slingo content,” he added. Buckley confirmed Gaming Realms would shortly be submitting an application for a supplier licence in Ontario as part of a new regulated igaming market there, citing the potential for Canadian growth to exceed the US. “This is an exciting time for the company and we intend to continue to deliver further value by scaling our platform and bringing innovative content to new audiences worldwide. “With more material impact expected from Michigan and Pennsylvania in the second half of this year, the board is confident in the future performance of the business,” Buckley added.