Gaming Realms PLC (AIM:GMR, OTCQX:PSDMF), the licensor of Slingo and other mobile-focused gaming content, has posted more good numbers in the year to end-December 2022.
Revenues were up 27% to £18.7mln, with underlying profits (EBITDA) 36% ahead of the previous year at £7.7mln.
Licensing was again strong, it said, with launches in two new North American regulated iGaming markets, Connecticut and Ontario, while 58 new partners were added internationally.
In Connecticut, Gaming Realms launched with DraftKings making it five North American states where it now operates with eleven operators licensing its games including Caesars Sportsbook and 888 in New Jersey, Kindred in Pennsylvania, Four Winds in Michigan, and Ballys and Pointsbet in Ontario.
Eleven operators in Europe also went live in the fourth quarter, including tier 1 operators Napoleon in Belgium, Snai in Italy and Pokerstars in the UK.
Gaming Realms said it had also repaid its outstanding loan to JPJ Group/Bally’s and is now debt-free, which Michael Buckley, Gaming Realms' executive chairman noted underlined the cash-generative nature of the business.
The AIM-listed group added that it had promoted Mark Segal to chief executive from chief financial officer (CFO) with Geoff Green now CFO.
Buckley, who remains executive chairman, said growth was coming from both existing and new markets.
“This growth has been supported by the new partnerships signed with igaming operators as well as the extension of our Slingo catalogue, with the release of new Slingo formats during the period, which have proven to be very popular.
“We are seeing good momentum, and backed by an exciting commercial pipeline and new games, we are confident that we will achieve further progress in 2023," he noted in the pre-close trading update.