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.
In Europe, the company expanded, with the entry of the regulated iGaming marketplaces in Italy, Romania, as well as the Netherlands.
For distribution of Slingo Original content Wynnbet and Sisal were partnered with 35 new companies.
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.
Company sees the company’s success in 2021 as an extension of its licensing strategy, which has resulted in a significant increase in its revenue. According to the company, the addition of iGaming markets that are newly regulated will allow for continued growth over the next year.
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