Business
Gaming Realms PLC Announces Interim Results
Gaming Realms plc (the "Company" or the "Group") Interim Results Content licensing...
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[{"type":"text","content":"Gaming Realms PLC Announces Interim ResultsGaming Realms plc(the \"Company\" or the \"Group\")Interim ResultsContent licensing revenue grew 37% to £8.8m after 12 consecutive half years of growth37% increase in Adjusted EBITDA1 to £4.8mLONDON, UK / ACCESSWIRE / September 12, 2023 / Gaming Realms plc (AIM:GMR), the developer and licensor of mobile focused gaming content, is pleased to announce its interim results for the six months to 30 June 2023 (the \"Period\" or \"H1'23\").Financial highlights: H1'23H1'22Change £m£m%Revenue (Content licensing)8.86.4+37%Revenue (Brand licensing)1.00.3+222%Revenue (Social)1.81.8-2%Total revenue11.58.5+36%Adjusted EBITDA4.83.5+37%Profit before tax2.41.4+74% • Total revenue grew 36% to £11.5m in H1'23 (H1'22: £8.5m)• Group Adjusted EBITDA grew 37% to £4.8m (H1'22: £3.5m), representing a 41% Adjusted EBITDA margin (H1'22: 41%)• Total licensing revenues grew 46% to £9.8m (H1'22: £6.7m)· Content licensing revenue increased 37% to £8.8m (H1'22: £6.4m) with an EBITDA margin of 54% (H1'22: 52%)· Brand licensing revenue increased 222% to £1.0m (H1'22: £0.3m)• Profit before tax increased 74% to £2.4m (H1'22: £1.4m)• Net cash at period end up 54% to £4.5m (Dec'22: £2.9m) demonstrating the cash generative nature of the Group's business modelOperational highlights:• Launched with 25 new partners globally, including Bet365 in the UK, Betway, OLG (Provincial Lottery) and LeoVegas in Ontario and Pokerstars in New Jersey• Submitted iGaming Supplier Licenses in British Columbia and South Africa and the Company was granted its Swedish Gaming Authority License• Secured brand licensing agreements for Tetris and TAITO's SPACE INVADERS, both expected to launch in the second half of 2023• Gained ISO 27001 certification, an internationally recognised standard for managing information security• Released 5 new games into the market, including Slingo Cleopatra and Slingo Money Train. The Group now has 70 games in its portfolio (Dec'22: 65 games, Jun'22: 61 games)Post period-end:• Licensing revenue increased 20% in the two months post period-end compared to the same period in 2022• Launched Slingo Originals content with Betclic in the Portugue...