Gaming Realms PLC Announces Annual Results 2024

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS THE SAME HAS BEEN RETAINED IN UK LAW AS AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR").

22% increase in Revenue and 30% increase in Adjusted EBITDA¹ marks another record year

LONDON, UNITED KINGDOM / ACCESS Newswire / March 31, 2025 / Gaming Realms plc (AIM:GMR), the developer and licensor of mobile focused gaming content, announces its annual results for the year ended 31 December 2024 and Q1 highlights for 2025.

Gaming Realms' strategic focus on content licensing has continued its significant revenue growth and high margins, with traction in both existing and emerging markets. The Company has an exciting pipeline of new partners and game releases and remains well positioned for continued expansion and success through 2025.

2024 Financial Highlights:

• Revenue increased by 22% to £28.5m (2023: £23.4m)

  • Licensing revenue increased by 23% to £24.5m (2023: £19.9m)

  • Social publishing revenue increased by 14% to £4.0m (2023: £3.5m)

• Adjusted EBITDA increased by 30% to £13.1m (2023: £10.1m)

• EBITDA of £12.3m (2023: £9.2m)

  • Licensing segment generated £14.2m EBITDA (2023: £11.3m)

  • Social publishing segment generated £1.2m EBITDA (2023: £0.8m)

  • Head office costs were £3.2m (2023: £2.9m) and excluding share option and related charges were £2.6m (2023: £2.4m)

• Profit before tax for the year increased by 61% to £8.3m (2023: £5.2m)

• Year-end cash balance increased to £13.5m (2023: £7.5m), with the Group remaining debt free

• Announced initial £6m share buyback programme, reflecting the Board's confidence in the strategy and business model

2024 Operational Highlights:

• Released 12 new unique Slingo games to the market, enhancing our portfolio offering

• Granted full iGaming Supplier Licenses in West Virginia and British Columbia

• Launched content in West Virginia, the fifth U.S. state regulated for iGaming where the Group is represented

• Launched with 44 new partners globally:

  • In North America with Fanduel in Pennsylvania and Connecticut, Fanatics in New Jersey, Michigan, Pennsylvania and West Virginia

  • In Europe with Danske Spil in Denmark, Betclic in Italy and Solverde in Portugal

• Increased unique players in content licensing business by 22%

• Launched innovative content including Slingo Press Your Luck and Slingo Fowl Play, collaborating with high-profile television and gaming brands

• Launched content from a second third-party slot studio, ReelPlay, to accelerate the growth of the distribution business

• Doubled the number of third-party games distributed on our network to 14 (2023: 7)

Q1 2025 Highlights:

• A strong start to 2025, with revenue in line with management expectations, driven by our core content licensing business showing a 22% increase in the first two months of the year compared with the same period in 2024

• Launched with 9 new operators including BetMGM and Superbet in Brazil, and PENN Entertainment in West Virginia

• Launched in Brazil with four partners following the market regulating for iGaming in January 2025

• Released three new Slingo games, including Slingo Genie Gemstones and Slingo Honey Crew

1 EBITDA is profit before interest, tax, depreciation and amortisation and is a non-GAAP measure. The Group uses EBITDA and Adjusted EBITDA to comment on its financial performance. Adjusted EBITDA is EBITDA excluding share option and related charges and adjusting items, which are significant, non-recurring items outside the scope of the Group's ordinary activities.

Summary:

The Group saw core content licensing revenues grow 28% to £23.8m (2023: £18.6m) with North America becoming our largest market with 54% of the total content licensing. This is a result of 59% growth in content licensing revenues in North America to £12.9m (2023: £8.1m).

Outlook:

Looking forward, the Group is well placed to deliver further growth in new and existing markets. We have launched our content in the newly regulated iGaming market in Brazil and expect to be launching our games with the lottery in British Columbia in Canada, as well as in South Africa in the coming months. To date, in 2025, we have already launched with 9 partners and three new Slingo games. The Board is confident in the Group's strategy and expectations for the rest of the current year.

Commenting on the Group's performance, Mark Segal, CEO, said:

"I am thrilled to share that 2024 has been another record-breaking year for Gaming Realms, with our performance including a 22% increase in revenue and a 30% lift in Adjusted EBITDA. This is strong evidence of the effectiveness of our content licensing strategy, as well as the rising popularity of our Slingo portfolio in international iGaming markets.

"Building on the momentum, we have made an excellent start to 2025 with our recent launch in Brazil, a newly regulated iGaming market, which expands our global presence to 21 markets. We have also launched with 9 new partners and released three new Slingo games, further enhancing our exciting and popular portfolio of content. As we move through 2025, we look forward to sharing updates on our continued expansion into new markets, the growth of our exciting game portfolio and upcoming partner launches."

An analyst briefing will be held virtually at 09:30am today. To attend, please email: gamingrealms@yellowjerseypr.com.

The Company also notes that it will be hosting an online presentation to retail investors on Friday, 04 April at 11:00am. Those wishing to join the presentation are requested to sign up to Investor Meet Company for free and add to meet Gaming Realms via: https://www.investormeetcompany.com/gaming-realms-plc/register-investor

Enquiries

For the purposes of UK MAR, the person responsible for arranging for the release of this information on behalf of Gaming Realms is Geoff Green.

About Gaming Realms
Gaming Realms creates and licenses innovative games for mobile, with operations in the UK, U.S., Canada and Malta. Through its unique IP and brands, Gaming Realms is bringing together media, entertainment and gaming assets in new game formats. As the creator of a variety of Slingo^TM, bingo, slots and other games, we use our proprietary data platform to build and engage global audiences. The Gaming Realms management team includes accomplished entrepreneurs and experienced executives from a wide range of leading gaming and media companies.

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SOURCE: Gaming Realms PLC