Business
Half Yearly Report
Half Yearly Report.
About this update from Gaming Realms Plc
[{"type":"text","content":"\n \nRNS Number : 6417J Gaming Realms PLC 16 June 2014 \n \n\nGAMING REALMS PLC\n \n(the \"Company\" or the \"Group\")\n \n \nInterim results for the six months ending 31 March 2014\n \nStrategy execution translates into strong player acquisition and revenue growth.\n \n \nGaming Realms, which creates, publishes and markets next generation online gaming products, today announces its interim results for the six months ending 31 March 2014.\n \nOperational highlights \n \n§ Revenue up 400% to £3.6 million for the six months to 31 March 2014 (FY13: £0.9m)\n§ Acquisition of QuickThink Media for £2.3 million\n§ Successful integration of QuickThink Media team into the Group resulting in a significant increase in player acquisitions and a reduction of 13% in average acquisition cost per new depositing player\n§ Depositing players up 61% to 47,174 in Q2 (Q1/14: 29,291)\n§ Daily active players increased 234% to 4,576 (Q4/13: 1,370)\n§ Continuing strong player take-up with 76,465 new depositing players (FY13: 18,881)\n§ Loss before taxation of £4.9 million which includes marketing spend of £5.2 million for the year to date as well as the cost of building internal gambling platform as per the company's stated strategy\n§ The Company's year-end has been changed to 31 December and it will report on a 15 month period to 31 December 2014\n \n \nPatrick Southon, Chief Executive, said:\n \n\"We are pleased with our growth in player acquisitions and revenue. In accordance with our business strategy and financial plan, we invested aggressively in marketing which has translated into a solid foundation for the future growth of our business. We remain focused on ensuring our product suite operates on an industry leading technology platform. In this regard, we are in the process of completing our next generation gaming platform to which we intend to migrate Pocket Fruity, our mobile casino, later this year. We expect the new gaming platform to deliver improved margins in addition to enabling us to introduce key aspects of our 'casual gaming' strategy.\n \n \nOutlook\n \nGaming Realms is well positioned to continue its strong revenue growth and player acquisition, focusing on engaging customers on mobile devices while reducing CPA through the synergies in QuickThink Media...