FY21 Revenue and EBITDA* Growth of 27% and 70% Respectively Complemented by New Regulated Market Launches
Pre-Close Trading Update
Gaming Realms plc (AIM: GMR), the developer and licensor of mobile focused gaming content, announces a pre-close trading update for the full year to 31 December 2021 (“FY21”).
The Company is pleased to confirm that it expects to report FY21 revenue of c.£14.5 million and adjusted EBITDA* of c.£5.6 million, up 27% and 70% respectively year-on-year. This strong performance was driven by the continued growth of the Group’s licensing business that, during FY21, launched in two new U.S. regulated iGaming markets of Michigan and Pennsylvania, and with thirty-five new partners internationally.
The Group’s expansion into further new markets during Q4 FY21, as set out below, has continued this positive momentum into Q1 FY22.
The Company expects to report its FY21 Preliminary Results during the week commencing 25 April 2022.
New Regulated Market Launches
The Company is pleased to provide the following update on its recent entry into new regulated markets.
In November 2021, Gaming Realms entered the regulated Romanian iGaming market through a partnership agreement with Superbet, the largest digital and retail betting operator in Romania. The deal sees Superbet publish Gaming Realms’ market leading Slingo content in the Romanian market, including Slingo Extreme, Red Hot Slingo, as well as the recently launched Slingo Sweet Bonanza.
Further bolstering its European presence, Gaming Realms went live in December 2021 with JVH gaming and entertainment group in the newly regulated Dutch market under the Jack’s Casino and Sports brand (“Jack’s Casino”). Initially, Jack’s Casino will offer 15 Slingo games to its Dutch player base, with further agreements with other licensed operators agreed and scheduled through Q1 2022.
In January 2022, the Group entered the regulated Spanish market with long-term strategic partner Gamesys (now part of Bally’s Corporation) under its Monopoly and Botamania brands. An initial fifteen games have been approved for launch in this market. Following a short exclusivity period with Gamesys, Gaming Realms will also launch its Slingo portfolio with Rank Group’s YoBingo and YoCasino brands in the Spanish market.
In addition, following Gaming Realms’ announcement of 29 September 2021 regarding a third-party distribution agreement with 4ThePlayer.com, the Company is pleased to announce that it has released 9K Yeti, its first 4ThePlayer.com slot game, with Paddy Power Betfair and Gamesys. Gaming Realms is initially distributing this content to targeted EU operators, with the North American markets to follow.
Michael Buckley, Executive Chairman of Gaming Realms, commented: “We are delighted with the performance in 2021, where we launched in new markets and increased the distribution of our expanded Slingo portfolio. We have a strong pipeline of opportunities and the outlook is very encouraging, with further expected expansion of our international footprint coupled with additional deals within the markets where our content is already distributed. We believe that the strong momentum of last year will continue into 2022 which is demonstrated by entry into regulated markets announced today.”
*EBITDA before share-based payments and restructuring expenses