Gaming Realms reports 50 increase in net revenue for H1 2021
Gaming Realms has reported its H1 interim results for the six months ending 30 June 2021
Gaming Realms has reported its H1 interim results for the sixer months conclusion 30 June 2021. The group’s summate revenue saw a 50% growth from its H1 2020 results.
The company's revenue has generated mellow margins, with a stalls frozen cost base, which has resulted inward an adjusted Earnings Before Interest Taxes Depreciation and Amortization arise of 144%, growing from £1.28m ($1.77m) to £3.1m.
Licencing revenue grew 73% to £5.8m, including mental object licencing revenue growing to 39% to the time value of £4.1m due to an increment inward statistical distribution from its expanded games portfolio. Brand licencing positively impacted the group’s revenue, with the portfolio leading to a 298% increase to £1.7m, compared to £0.4m in 2020.
New Slingo mental object alongside improved player direction and new player involution features wedged the social revenue increment to £1.9m, a 7% ontogeny on in conclusion year.
In terms of its operational highlights, Gaming Realms was granted its provisional iGaming supplier licence inwards boodle where it went live with BetMGM inward a verbatim desegregation process. It was also granted its Interactive Gaming Manufacture licence in Pennsylvania.
In the period, it released foursome young games into the market, including Slingo mental object inward the Italian regulated securities industry with Goldbet and Sisal. Alongside this, several distribution deals were signed, including i with GAN, alongside signing a content licencing understanding with IGT.
Michael Buckley, Gaming Realms Executive Chairman, said: "The Group has delivered an excellent for the first time half both in terms of significant earnings maturation and new licencing and distribution agreements. Having late launched inward Chicago and Pennsylvania, the chemical group is now workings to capitalise on the important opportunities inwards these markets. We are also sounding to strengthen our attitude in Europe through launches inwards other regulated markets followers the supporting response we have seen from players inward Italian Republic for our Slingo content.
"Looking farther ahead, we are well-nigh to take up the appendage for obtaining a licence in Ontario, Canada. Ontario has announced its intention to regularise iGaming and has the potency to be a larger market for Gaming Realms than any ace of the US states that experience regulated so far. In addition, we testament also follow up on further licencing opportunities within the US as young states annunciate their intention to regulate iGaming."
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