Shares in Gaming Realms PLC (AIM:GMR, OTCQX:PSDMF) were up 4% early on following a positive pre-close trading update for the first half, leaving it on track to meet its full-year financial targets.
The company, a developer of mobile-focused gaming content, reported an 18% increase in revenue to approximately £13.5 million and a 21% rise in adjusted EBITDA to about £5.8 million compared to the same period last year.
The strong performance was driven by the core content licensing business, which saw revenues grow 28% year-on-year. The company also expanded its market presence by partnering with 22 new clients and launching seven new Slingo games.
In North America, the Slingo portfolio launched with Fanduel in Pennsylvania and Connecticut, Atlantic Lottery Corporation in Canada, and Fanatics in New Jersey, Michigan, and Pennsylvania.
In Europe, Slingo went live with PokerStars in Italy and Romania, DAZN in the UK and Spain, LiveScore in the Netherlands, Solverde in Portugal, Virgin Bet in the UK, and Entain in Spain.
"Our expansion into new markets and the successful launch of new games with new and existing partners underscore the strength of our strategy. Looking ahead, we are confident in our ability to maintain this momentum and meet our full-year targets," said CEO Mark Segal.
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