Trading Update

RNS Number : 6788C

Gaming Realms PLC

19 October 2015

 

Gaming Realms Plc

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

Trading update

Strong trading in third quarter with revenues up by 48% 

Launch of Slingo.com

Gaming Realms, the creator and developer of interactive next generation online gaming products, announces its trading update for the third quarter of 2015. 

The Company has launched Slingo.com, a new gambling site operated on its proprietary gaming platform and featuring assets purchased in the recent acquisition of assets from Real Networks Inc.  This is expected to materially enhance revenues into 2016 and beyond.

Highlights for quarter ended 30 September 2015

§ Total group revenue increased by 48% to £6.2 million (Q2/15: £4.2 million) with inclusion of the revenue from the assets acquired from Real Networks on 11 August 2015

§ Real money net gaming revenue increased by 18% to £2.8 million (Q2/15: £2.4 million)

§ Average UK daily revenue increased by 47% to £67,914 (Q2/15: £46,000), with average group daily revenue rising to £81,340 since 11 August 2015

§ Slingo Riches accounted for 16% of gross gaming revenues on platform in Q3/15

§ Slingo free to play mobile apps generated a monthly record of $500,000 revenue during September 2015

§ Overall Group revenues are in line with market expectations for the full year ending 31 December 2015

Commentating on the new product launch and current trading, Patrick Southon, CEO said:

"The launch of a Slingo based real money site is the first step in the integration and development of the assets acquired in August from Real Networks. This new gambling site will build on the success of the Slingo Riches game which has been operating on our platform since April 2015.

"We believe that this new product, targeted at our key mobile based demographic, will enable us to continue our revenue and player growth into 2016 and beyond. It will also expand our differentiated product offering in the UK gambling market."

- Ends -

For more information

Gaming Realms Group Patrick Southon, CEO c/o Bell Pottinger	[phone]
Cenkos Securities (Nomad and Broker) Max Hartley (Nomad), Julian Morse (Sales)	[phone]
Bell Pottinger Olly Scott James Newman	[phone]

About Gaming Realms

Gaming Realms Limited is an online gaming business formed in 2012 to develop a new generation of social bingo and slot machine gaming concepts.

Gaming Realms was founded by the team behind Cashcade, which created the leading online bingo brand, Foxy Bingo, in addition to other online bingo and casino games. The success of Cashcade culminated in its sale to bwin.party digital entertainment plc for a total consideration of approximately £96 million in 2009.

 

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