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Gaming Realms continues to trade ahead of expectations

The mobile gambling content group said its earnings nad revenues have been boosted by the expansion of its partners internationally and the release of new ‘Slingo’ games

Gaming Realms PLC - Gaming Realms continues to trade ahead of expectations

Gaming Realms PLC (LON:GMR) said it has continued to trade ahead of market expectations for the full-year, swinging into positive earnings territory in the first half of its current year.

In a trading update, the developer of mobile gambling content said revenues for its first half were at £5mln, up from £3.1mln a year ago, while it also swung to adjusted underlying earnings (EBITDA) of £1.2mln compared to a £100,000 loss in 2019.

READ: Gaming Realms enters into three-year licensing and distribution agreement with Bragg Gaming unit Oryx Gaming

Gaming Realms attributed the performance to the expansion of its partners internationally and the release of new ‘Slingo’ games which have increased take-up by its customers.

The company also said that while revenue growth for the first half was helped by the impact of the coronavirus lockdown, trading in the seven weeks following the end of the period has been maintained at similar levels.

As a result, the company said it expected its revenues and earnings for the full year to be “materially ahead of current market expectations”

Quick facts: Gaming Realms PLC

Price: 21 GBX

AIM:GMR
Market: AIM
Market Cap: £59.73 m
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