Gaming Realms improves revenue, pre-tax loss for FY

Shares in Gaming Realms nudged higher as it produced improved revenue and pre-tax loss for its full year.

Chief executive Patrick Southon said 2016 was another year of progress for Gaming Realms, citing rapidly growing revenues, reduced losses and EBITDA positive in H2.

"Having scaled the business our plan is to be profitable in 2017 by continuing to drive top line growth and allocating our capital towards real money gaming and content licensing, the most profitable parts of our business," said Southon.

Revenue was £33.96m, up from £21.21m. Pre-tax loss was £6.97m, from a loss of £7.78m. The improved profitability trend was seen in H2 adjusted EBITDA of £2.0m, from a loss of £1.7m. Full-year adjusted EBITDA loss was reduced to £1.0m, from £4.1m.

Total new depositing players rose 47% to 249,355, from 169,988 a year ago.

At 12:43 BST, shares in AIM-quoted Gaming Realms were up 1.7% to 15p each.