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Gaming Realms expects strong first half performance to continue – Proactive Investors UK


Sep 21, 2022

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The games developer highlighted a “strong pipeline of deals and integrations”
Gaming Realms PLC (AIM:GMR, OTCQX:PSDMF) reported a 66% increase in interim profits and said it expects full-year trading to be in line with market expectations.
The developer and licensor of mobile-focused games posted a pretax profit of £1.3mln for the six months to June 30 with a 10% jump in sales to £8.5mln, driven by growth in its content licensing business
“The group has delivered another period of strong growth supported by our ongoing expansion into newly regulated markets in North America and Europe, with content licensing revenue increasing by 57%,” said executive chairman Michael Buckley.
As a result of a “strong pipeline of deals and integrations”, the London-listed company expects full-year trading to be in line with market expectations.
Growth is expected to continue for the rest of the financial year, with the group aiming to launch its games in Connecticut, Portugal and Greece.
Additionally, it forecasts growth from its recent launches in Michigan, Pennsylvania, Ontario, Spain and the Netherlands.
According to a statement, the group launched with 26 partners in the first half, supported by the launch of eight new games into the market, such as Slingo Shark Week and Slingo DaVinci Diamonds, taking its total portfolio of games to 61.
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