Gaming Realms has global ambitions as gaming content market booms
- Gaming Realms eyeing more opportunities in North America and Europe
- Gaming Realms reaping the benefits from shift to licensing
- Gaming Realms slots another piece of strategic puzzle into place
- Gaming Realms' hail growth of content licensing, boosting their performance with revenue up 50%
Quick facts: Gaming Realms PLC
Price: 36.9 GBX
Market Cap: £106.53 m
About the company
Gaming Realms creates and licenses innovative games for mobile, with operations in the UK, U.S. and Canada.
Through its unique IP and brands, Gaming Realms is bringing together media, entertainment and gaming assets in new game formats.
The Gaming Realms management team includes accomplished entrepreneurs and experienced executives from a wide range of leading gaming and media companies.
How it is doing
The developer of mobile-focused gaming content said momentum is set to continue in the second half of the year with the group especially excited about its recent launches in Michigan and Pennsylvania in the US. Furthermore, the company is about to start the process to apply for a licence in Ontario, Canada, which has signalled its intention to regulate online gaming.
Total revenue grew 50% in the first half of 2021 to £7.7mln from £5.2mln in the same period of 2020.
Licensing revenue jumped 73% to £5.8mln from £3.4mln the year before, while social media revenue increased by 7% to £1.9mln from £1.8mln.
Gaming Realms PLC (AIM:GMR, FRA:RNE1, OTCQX:PSDMF) told investors its first Slingo game has now gone live in Pennsylvania, following the company’s recent award of an interactive gaming manufacturer licence in the state.
The game is live in the state via Gaming Realms' tie-up with BetMGM and the company noted that more games are scheduled to follow shortly.
BetMGM, a partnership between MGM Resorts and Ladbrokes owner Entain, is a leading sports betting and online gaming operator in the US and, as of May 2021, is the market leader of the igaming market in Michigan, Gaming Realms added.
Insight: Gaming Realms reaping the benefits from shift to licensing
What the brokers say
Gaming Realms PLC's (LON:GMR) launch of three Slingo games in Michigan with BetMGM, the joint venture between Entain and MGM is another piece of the strategic puzzle slotting into place as expected, says Peel Hunt.
“With continued solid underlying growth in online gambling markets and a bow wave for Gaming Realms from relatively recent client wins,” buy is its recommendation with a 60p target price.
Michigan, which legalised both sports betting and online gaming in January 2021, has grown quickly to be the third-largest state in terms of GGR, much faster growth than was expected prior to launch.
What management says
Gaming Realms PLC (AIM:GMR, FRA:RNE1, OTCQX:PSDMF) (AIM:GMR, FRA:RNE1, OTCQX:PSDMF) Mark Segal joins Proactive London to explain what's been driving the escalation of their performance and progress with creating 'great content for licensing suppliers'.
In the first half, total revenue grew 50% in the first half of 2021 to £7.7mln from £5.2mln in the same period of 2020.
Momentum is set to continue in the second half of the year with the group especially excited about its recent launches in Michigan and Pennsylvania in the US. And start the process to apply for a licence in Ontario, Canada, which has signalled its intention to regulate online gaming.
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