Pre-close Trading Update

RNS Number : 6921O

Gaming Realms PLC

11 February 2021

 

Gaming Realms Plc  

(" Gaming Realms", the   "Company"   or the   "Group")

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 2020 ("FY20").

The Company is pleased to announce that it expects FY20 revenue and adjusted EBITDA* will be c .£11.2m and c.£3.1m respectively. This reflects a record month in December due to the Company's content licensing business, which has continued to go from strength to strength. It grew by over 100% during FY20 - launching with 26 new partners, including Tier 1 operators DraftKings in the U.S., as well as Sky Betting and Gaming and PaddyPower Betfair in the UK and Europe.

The positive momentum reported above has continued into the start of FY21, with the Company recently announcing the launch of its Slingo content in Italy with both Goldbet and Sisal.

The development of the Group's US strategy has continued into the current year, with the signing of a number of key contracts in the US, including a multi-state contract with BetMGM to provide content through a direct integration. In addition, the Company has been granted a provisional supplier licence by the Michigan Gaming Control Board, which will allow all Slingo Originals content to be provided to Michigan's licenced online casino operators. This licence, alongside the Company's existing New Jersey licence, will further strengthen Gaming Realms' US operations, where it is continuing with the application process for a licence in Pennsylvania.

The Company expects to report its FY20 Preliminary Results during the week commencing 19th April 2021.

Michael Buckley, Chairman, said:  

"We are delighted with last year's performance, which illustrates both the popularity of our games and our ability to licence multiple different partners. At the same time, we have taken a significant step forward to becoming a global platform business with multiple games, all of which is testament to our talented and motivated team. The combination of our excellent games portfolio, our existing distribution agreements with global partners and our strong pipeline of new partnerships, makes us optimistic about the significant opportunities ahead as we focus on our continued expansion and international growth."

*EBITDA before share-based payments and restructuring expenses

Gaming Realms plc  Michael Buckley, Executive Chairman Mark Segal, CFO	0845 123 3773
Peel Hunt LLP - NOMAD and broker  George Sellar Andrew Clark Will Bell	020 7418 8900
Yellow Jersey  Charles Goodwin Annabel Atkins Georgia Colkin	07747 788 221 07983 557 851

About Gaming Realms

Gaming Realms creates and licenses innovative gaming content for mobile, with operations in the UK, U.S. and Canada. Through its proprietary IP and brands, Gaming Realms is bringing together media, entertainment and gaming assets in new game formats. The Gaming Realms management team includes accomplished entrepreneurs and experienced executives from a wide range of leading technology, gaming and media companies.

 

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