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Gaming Realms PLC Announces Annual Results 2022
Annual Results 2022 27% increase in Revenue and 34% increase in Adjusted EBITDA 1 Stron...
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[{"type":"text","content":"Gaming Realms PLC Announces Annual Results 2022Annual Results 202227% increase in Revenue and 34% increase in Adjusted EBITDA1Strong start to 2023 with year-on-year revenue increase over 50%LONDON, UK / ACCESSWIRE / April 3, 2023 / Gaming Realms plc (AIM:GMR), the developer and licensor of mobile focused gaming content, announces its annual results for the year ended 31 December 2022 and Q1 highlights for 2023.Gaming Realms' continued focus on content licensing has seen further growth in revenues and high margins. This growth has been in pre-existing markets as well as entering new markets in the year. With the current strong pipeline of games and operators to onboard, the Group's growth is expected to continue in 2023.2022 Financial Highlights:Revenue increased by 27% to £18.7m (2021: £14.7m)o Licensing revenue increased by 35% to £14.9m (2021: £11.1m)o Social publishing revenue increased by 3% to £3.7m (2021: £3.6m)EBITDA before share option and related charges (Adjusted EBITDA) increased 34% to £7.8m (2021: £5.8m)Profit before tax for the year increased 224% to £3.5m (2021: £1.1m)Year-end cash balance of £2.9m (2021: £4.4m) after making a repayment to Gamesys Group of £3.4m resulting in the Group ending the year debt free2022 Operational Highlights:Portfolio of proprietary games on the Group's remote game server (\"RGS\") grew to 65 (2021: 53)Launched in 3 newly regulated iGaming markets in North America: Ontario, Quebec and ConnecticutLaunched in 3 further European regulated iGaming markets: Spain, Denmark and BelgiumLaunched with 56 new partners for Slingo Originals content including Pokerstars, Betway, Loto Quebec and SnaitechSigned licensing deals with Konami Gaming and Taito CorporationIncreased unique players in licensing business by 19%Phase one of the migration to a more dynamically scalable next-gen RGS platformLaunched the first 3 games in Europe and North America for 4ThePlayer on our distribution network2023 Highlights:Increased year-on-year revenue by 53% in the two months post year end to £3.7m (2022: £2.4m)Launched with 13 new operators including Bet365 in the UK, OLG in Ontario, Rush Street Interactive in Mexico and Betway in PennsylvaniaSigned an IP deal with Tetris to release a Slingo Tetris game internationally later in 2023Released ...