Gaming Realms PLC (AIM:GMR, OTCQX:PSDMF), the gambling software developer, spiked nearly 9.5% on Thursday after comforting analysts with news it's on track to achieve its revenue growth targets.
Predicting a 34% spike in first-half revenues, the Slingo owner impressed analysts at Peel Hunt Ltd (AIM:PEEL), who reckons full-year sales will grow by 22%.
It leaves Gaming Realms with “a comfortable safety margin” going into the second half, requiring a jump in sales of only 13%, Peel Hunt added.
Five new Slingo games and 25 new licensees are the key tailwinds driving the London-listed firm’s momentum going forward, the investment bank believes.
Getting the games approved for use, integrating them with operators and then making the offerings available on app stores is now the “complicated” next step, the UK company warned.
“Gaming Realms has a long way to go before all its existing content is live with all its licensees in all markets,” Peel Hunt concluded.
Rating Gaming Realms a ‘buy’ the house broker reiterates its 60p share price target – representing around an 85% upside to the current value.