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Gaming Realms' half-year profit and revenue soar on licensing drive

12th Sep 2023 12:08

(Alliance News) - Gaming Realms PLC on Tuesday said profit and revenue growth in the first half of the year was driven by its Licensing division and expects to meet full-year market expectations after a period of "strong momentum."

In the six months ended on June 30, the London-based mobile betting games developer said pretax profit rose by 60% to GBP2.4 million from GBP1.5 million a year prior, as revenue surged 35% to GBP11.5 million from GBP8.5 million the year before.

This was driven by its core Licensing business, which saw a 46% jump in revenue to GBP9.8 million from GBP6.7 million in the first half of 2022.

Looking ahead, Gaming Realms expects "strong momentum" to continue into the second half of 2023 and expects to hit full-year market expectations, citing licences with new partners, as well as high content licensing revenues from the European market and in North America.

Chief Executive Officer Mark Segal said: "We have delivered a strong first half performance as we have grown our international licensing business.

"The group has a strong pipeline of new business and the outlook for the group remains positive. We are seeing growth in our existing partnerships coupled with new operator, product and market launches, which gives us great confidence in terms of the longer term prospects for the business."

Shares in Gaming Realms were up by 6.1% at 38.62 pence each in London on Tuesday around midday.

By Sabrina Penty, Alliance News reporter

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