Gaming Realms (LON:GMR) has told investors a three-fold rise in turnover from real money gaming helped drive a 116% increase in group revenue.
At £21.4mln total revenue for 2015 was in line with management expectations, the company said, and real money gaming generated £10.8mln.
Patrick Southon, Gaming Realms chief executive, said: "The Group made great progress in 2015, achieving Group revenue growth of 116% and real money revenue growth of 305% following the launch of our proprietary games platform, Grizzly.”
Gaming Realms also highlighted that during the year it has inked key deals for its social gaming products, which sees it work with Fremantle Media and Endemol for games based on the X Factor and Deal or No Deal brands respectively.
It has signed a new licensing deal with major US gaming develop Zynga for the social casino market, with the London quoted group receiving revenue royalties over a three year period.
“These agreements will open the Group up to new player audiences and revenue streams," Southon added.
Michael Campbell, analyst at City broker Northland Capital, in a note, said: “The growth is highly encouraging and the group invests heavily in player acquisition which is clearly bearing fruit.”
“The current market capitalisation implies the business is trading on less than 2x 4Q15 annualised revenue, which is not particularly onerous in our view.”
Gaming Realms will release its financial results for 2015 in April.