Gaming Realms PLC (LSE:GMR, OTCQX:PSDMF, FRA:RNE1), the AIM-listed developer and licensor of mobile gaming content, said it was well positioned to build on its momentum and deliver further growth across new and existing markets.
The company's UK business proved resilient, with revenues up 3% despite the near doubling of Remote Gaming Duty to 40% from 1 April.
Gross gaming revenue in the UK is now above levels seen prior to the 2025 staking limit changes, which the company attributed to the strength of its Slingo brand and recent product innovations.
Core content licensing revenue rose 12% to £13.0 million during the six months to 30 June, and grew a further 23% in the two months since the period ended, compared with the same period in 2025.
Total group revenue fell 3% to £15.5 million, reflecting a drop in non-core brand licensing revenue after a significant multi-year brand renewal was recognised in full in the prior period.
Excluding brand licensing, revenue grew 9% and adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) rose 16% to £5.9 million, representing a 40% margin.
Investors were told trading in the first half was in line with expectations and it remained confident of delivering full-year results in line with market forecasts.
Gaming Realms launched content in four new regulated markets during the period, Nigeria, Ghana, Kenya and Peru, taking its total to 32 by the end of June.
Since the period ended, it has gone on to launch in Alberta, Canada, and Buenos Aires Province, Argentina, becoming one of the first content providers live in Alberta's newly regulated iGaming market.
The group released 11 new games during the half, including three titles from its newly established Lucky Lunar slot studio, broadening its portfolio beyond its core Slingo mechanic.
Net cash stood at £13.5 million at the end of June, down from £17.8 million in December, after £6 million was returned to shareholders through its ongoing share buyback programme.
Mark Segal, chief executive of Gaming Realms, said the first-half results reflected continued execution of the company's strategy and the early benefits of increased investment in content and platform capability made in the second half of 2025.
