Gaming Realms records H1 revenue of £5m
Games developer’s top-line growth boosted by new Slingo releases and supply partnerships
Gaming Realms has confirmed that it continues to trade ahead of market expectations after recording H1 2020 revenue of £5m.
The AIM-listed group noted the positive financial results from H1 2020 were as a direct result of expanding its supply agreements, such as with Rank Group, and the release of new Slingo titles.
The £5m in revenue is up 38% from £3.1m recorded in H1 2019, while adjusted EBITDA jumped to £1.2m from a £0.1m loss in the same period last year.
Gaming Realms also highlighted how trading in the seven weeks post H1 2020, which coincided with the alleviation of lockdown measures, have maintained a similar level as H1 during the period.
In a statement, Gaming Realms said: “The board expects revenue and EBITDA for the full year to 31 December 2020 to be materially ahead of current market expectations.”
Earlier this year, the supplier recorded a Q1 licensing revenue increase of 90%, as well as growth of 80% during April and May.
Gaming Realms’ share price was up 5.4% following the trading update release. The group’s full H1 results will be made public on 8 September.
EGR has contacted Gaming Realms for further comment.