Gaming Realms Q1 revenues double
Operator's revenues soar 100% during the quarter with strong growth from both real-money and social gaming divisions
AIM-listed operator Gaming Realms doubled its revenues to ?7.5m during Q1 2016 as the company continues to reap the rewards from its proprietary gaming platform.
The London-based firm this morning announced revenues increased 100% during the three-month period, reporting triple-digit growth across both its real-money (RMG) and social gaming businesses.
Revenues from RMG, which includes Spin Genie and the recently launched Britain’s Got Talent site, were up 128%, while social and licensing revenues soared 643% to ?2m.
According to today’s trading update, 81% of real-money players on the company’s in-house ‘grizzly’ platform were playing via mobile.
“The launch of our proprietary platform at the start of 2015 and acquisition of Slingo IP and games has transformed the business and our content proposition,” Patrick Southon (pictured), Gaming Realms CEO, said.
“The progress made at the start of 2016, with a number of licence agreements in place with major brands and media publishing companies, means that Gaming Realms is opening up a number of new channels to market its games across both real money and social segments,” he added.
Earlier this year Gaming Realms announced it had entered the regulated US online gambling market via a partnership with New Jersey operator Pala Interactive, launching real-money bingo site PalaBingoUSA.com.