23rd Mar 2018 11:26
The sale is in line with Gaming Realms's strategy to focus its resources on its real money and content development businesses, especially in the face of the affiliate market becoming more competitive, marked by the business contributing
Proceeds from the sale will go towards the ongoing marketing of its real money gaming brands and further development of new content.
In addition, with the restructuring of the social gaming business, the company is now earnings before interest, tax, depreciation and amortisation positive at
Gaming Realms expects Ebitda growth in 2018, however acknowledged that the sale of Bingoport will reduce Ebitda in the short term, which is expected to be offset by the benefits of recently signed licensing agreement and gaming partnerships which is set to come through later in the year.
"2017 was a year of significant developments, with the company delivering maiden positive Ebitda and successfully focusing resources towards real money gaming and licensing our Slingo Originals content to improve margins. The disposal of the affiliate portals marks the completion of this transition, and with further licensing opportunities to follow, we believe that the company is in line for improved bottom line growth in 2018," said Chief Executive Officer Patrick Southon.
Gaming Realms will publish its full-year results in early May.
Shares in Gaming Realms were down 4.0% at
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