Gaming Realms says strong 2021 momentum has continued into new year

Vox Markets
Gaming Realms says strong 2021 momentum has continued into new year
Wild Casino

For the year to 31 December 2021, Gaming Realms (GMR) said it expects to report revenue of c.£14.5m and adjusted EBITDA of c.£5.6m, up 27% and 70%, respectively, year-on-year.

Gaming Realms, which develops and licences mobile focused gaming content, has attributed the strong performance over the period to the continued growth of its licensing business.

During FY21, the licensing business was launched in two new U.S. regulated iGaming markets - Michigan and Pennsylvania - alongside thirty-five new partners internationally.

Gaming Realms said its expansion into further new markets during 4Q21, has continued this positive momentum into 1Q22, and that the company’s outlook remains “very encouraging.”

In November 2021, Gaming Realms entered the regulated Romanian iGaming market through a partnership with Superbet, the largest digital and retail betting operator in Romania.

This will see Superbet publish Gaming Realms' market Slingo content in Romania, including Slingo Extreme, Red Hot Slingo, as well as the recently launched Slingo Sweet Bonanza.

Later in December 2021, the group went live with JVH gaming and entertainment group in the newly regulated Dutch market under the Jack's Casino and Sports brand. Gaming Realms informed investors that this launch has further bolstered the company’s European presence.

Initially, Jack's Casino will offer 15 Slingo games to its Dutch player base, with further agreements with other licensed operators agreed and scheduled through 1Q22, it noted.

Meanwhile, earlier this month, the Group entered the regulated Spanish market with a long-term partnership with Gamesys (now part of Bally's Corporation) under its Monopoly and Botamania brands. An initial fifteen games have been approved for launch in this market.

Following a short exclusivity period with Gamesys, Gaming Realms said it will also launch its Slingo portfolio with Rank Group's YoBingo and YoCasino brands across the Spanish market.

In addition, following an announcement in September 2021 regarding a third-party distribution agreement, Gaming Realms has now released 9K Yeti, its first slot game, with Paddy Power Betfair and Gamesys. The company outlined to investors that it will initially distribute this content to targeted EU operators, with the North American markets to follow.

Michael Buckley, Executive Chairman of Gaming Realms, told investors: "We are delighted with the performance in 2021, where we launched in new markets and increased the distribution of our expanded Slingo portfolio. We have a strong pipeline of opportunities and the outlook is very encouraging, with further expected expansion of our international footprint coupled with additional deals within the markets where our content is already distributed.”

Buckley added that the company believes that the strong momentum experienced in 2021 will continue into 2022 and that this is already demonstrated by its entry into regulated markets.