Gaming Realms flags bumper revenues for 2020

Developer and licenser of mobile-focussed gaming content Gaming Realms updated the market on its trading on Tuesday, reporting that since it released its interim results on 8 September, business performance and sales momentum had continued the trend demonstrated through the first eight months of the year.

The AIM-traded firm said revenues for the period were expected to be £10.7m, 55% ahead of 2019.

As a result of that increase in revenue, it was expecting adjusted EBITDA of at least £2.75m for the year ending 31 December.

“This strong performance is due to the expansion of our partners internationally, the release of new ‘Slingo’ games, and improvements to the group's technology,” the board said in its statement.

“In the second half of the period, we have gone live with five new partners, including PaddyPower Betfair in Europe, and launched four new ‘Slingo’ games, including ‘Slingo Fluffy Favourites’.”

The company said it had applied for licences in Pennsylvania and Michigan in the US, and was hoping to launch in those states during the first half of 2021.

“The company is confident of achieving further progress during 2021 and will provide further updates on its progress in due course.”

At 1420 GMT, shares in Gaming Realms were down 1.44% at 20.6p.