Supplier Gaming Realms published its financial results for 2018 ending 31/12/2021. Also, Q1 2022 Highlights.
Overall for 2021, revenue increased by 29% to £14.7m ($18.7m) which is up from £11.4m in 2020. Similarly, licensing revenue grew by 48% to £11.1m in 2021. Conversely, social publishing revenue dropped to £3.6m, a decrease of 8%.
EBITDA increased 146% to £5m, with the licensing segment generating £6.4m EBITDA, contrasting with £3.5m in 2020. Additionally, the social publishing segment generated £1.1m EBITDA compared to £1.4m in 2020.
Head office overall costs reached £2.5m, down from £2.9m in 2020. The increase in shares options and business development charges is a major reason for this drop.
Gaming Realms reached an after-tax profit for the year of £1.3m, which compares positively to the loss of £1.5m in 2020.
Operationally, Gaming Realms increased its portfolio to 53 proprietary games on the company’s remote game server. It launched services in Pennsylvania and Michigan, two regulated iGaming areas in the USA.
Aside from expanding in Europe, the company entered the regulated iGaming marketplaces of Italy and Romania.
Slingo Original Content was distributed by 35 partners, which included Wynnbet. Sisal. Aspire Global. Goldbet.
Q1 saw a 43% increase in licensing revenue to £3m. Gamesys, Yo Bingo and other Spanish operators have been launched. These are part of Rank Group. Gaming Realms also expanded to Quebec through Loto-Quebec and obtained an iGaming supplier license for Ontario.
It sees 2021’s success as an extension of the company’s licensing strategy that has allowed for a rise in revenues. The company believes that the continued growth of the iGaming market will be possible with the launch in new regulated markets.
The Global Gaming Awards are heading to Asia Following the success of the Global Gaming Awards in Las Vegas and London, Gambling Insider
After traveling to Las Vegas 2021, NIGA, the National Indian Gaming Association, arrived in Anaheim, California this April, for their showpiece tradeshow. The organisation actually got…