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Gaming Realms Annual Results For 2022
Gaming Realms plc (AIM: GMR), the developer and licensor of mobile focused gaming content, announces its annual results for the year ended 31 December 2022 and Q1 highlights for 2023.
Gaming Realms’ continued focus on content licensing has seen further growth in revenues and high margins. This growth has been in pre-existing markets as well as entering new markets in the year. With the current strong pipeline of games and operators to onboard, the Group’s growth is expected to continue in 2023.
2022 Financial Highlights:
- Revenue increased by 27% to £18.7m (2021: £14.7m)
- Licensing revenue increased by 35% to £14.9m (2021: £11.1m)
- Social publishing revenue increased by 3% to £3.7m (2021: £3.6m)
- EBITDA before share option and related charges (Adjusted EBITDA) increased 34% to £7.8m (2021: £5.8m)
- Profit before tax for the year increased 224% to £3.5m (2021: £1.1m)
- Year-end cash balance of £2.9m (2021: £4.4m) after making a repayment to Gamesys Group of £3.4m resulting in the Group ending the year debt free
2022 Operational Highlights:
- Portfolio of proprietary games on the Group’s remote game server (“RGS”) grew to 65 (2021: 53)
- Launched in 3 newly regulated iGaming markets in North America: Ontario, Quebec and Connecticut
- Launched in 3 further European regulated iGaming markets: Spain, Denmark and Belgium
- Launched with 56 new partners for Slingo Originals content including Pokerstars, Betway, Loto Quebec and Snaitech
- Signed licensing deals with Konami Gaming and Taito Corporation
- Increased unique players in licensing business by 19%
- Phase one of the migration to a more dynamically scalable next-gen RGS platform
- Launched the first 3 games in Europe and North America for 4ThePlayer on our distribution network
2023 Highlights:
- Increased year-on-year revenue by 53% in the two months post year end to £3.7m (2022: £2.4m)
- Launched with 13 new operators including Bet365 in the UK, OLG in Ontario, Rush Street Interactive in Mexico and Betway in Pennsylvania
- Signed an IP deal with Tetris to release a Slingo Tetris game internationally later in 2023
- Released 3 new Slingo games including Slingo Cleopatra and Slingo Golden Envelope
Outlook:
Gaming Realms continues to deliver on its strategy of becoming a leading supplier to the international iGaming market. In 2022, the Group launched in 6 new markets, including Connecticut and Ontario in North America and continues to be strategically placed for new market openings in North America. Gaming Realms is also growing in its existing markets and partners, resulting in growth with a high margin. With 13 new partners already launched in 2023, together with 3 new Slingo games, the Board is confident in the Group’s strategy and expectations as we look ahead at the rest of the current year.
Commenting on the Group’s performance, Mark Segal, CEO, said:
“2022 was another exceptional year for the Group as we continue with our proven strategy of expanding our Slingo portfolio with new titles and entering new iGaming jurisdictions alongside our operating partners. This has supported our 27% revenue growth and we have ended the year with a record profit of £3.5m.
“Having grown our portfolio of games to 65 through 2022 and launched with 56 new partners for our Slingo Originals content, we are experiencing our games being enjoyed on a global level.
“As we look ahead to 2023, the year is already off to an exciting start with 13 new launches implemented and new Slingo games, such as Slingo Cleopatra and Slingo Golden Envelope, already proving popular amongst fans. With our strong foundation built in 2022 already proving fruitful in 2023, we are excited to continue delivering further game launches, new partner deals and expanding our global footprint even further.”
Latest News
Fast Track welcomes PolarLotto: taking online lotto in Sweden to new heights
Malta, 28th March 2024 – PolarLotto, a leading provider of lotto betting services in Sweden, has just announced a strategic partnership with Fast Track, a leading provider of CRM solutions designed specifically for the iGaming industry. This collaboration aims to propel PolarLotto’s expansion from offline to online offerings, bringing the excitement of the world’s biggest lotteries to Swedish players in a safe and responsible manner.
PolarLotto prides itself on its commitment to transparent and ethical gaming practices, with a focus on player safety and responsible gaming. By teaming up with Fast Track, PolarLotto aims to leverage cutting-edge technology to expand its business model from traditional to online, ensuring a seamless and engaging experience for its customers.
Commenting on the partnership, Benjamin Burstein, CEO of PolarLotto, expressed enthusiasm about the possibilities ahead, stating, “We are excited to embark on this journey of transforming our business with the latest technology and automation tools provided by Fast Track. As we transition to the online space, we are confident that Fast Track’s expertise in custom segmentation, real-time data capabilities, and personalised experiences will enable us to better serve our players and achieve our business objectives.”
Fast Track also expressed confidence in the partnership, highlighting the potential for exceptional results through its Singularity model, which uses AI and machine learning to deliver tailored content to players, at the right time and through the most effective channel. “We are thrilled to partner with PolarLotto and support their online expansion,” said Simon Lidzén, CEO and co-founder of Fast Track. Our tools are designed to empower lean teams to achieve remarkable results, and we look forward to helping PolarLotto maximise their online presence and engagement.”
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Red Bull Gaming premieres ‘Memories of CS:GO’ documentary highlighting the game’s early years
As the CS2 PGL Major in Copenhagen is set to kick off, Red Bull Media House will unveil a captivating feature-length documentary, “Memories of CS:GO – The Early Years,” an ode to one of the most influential games ever made.
This film takes viewers on an immersive journey through the origins and evolution of Counter-Strike: Global Offensive (CS:GO), featuring personal accounts and defining moments from several of the most legendary figures of the game.
The 90-minute documentary, narrated by Counter-Strike commentator Henry “HenryG” Greer, chronicles the remarkable trajectory of CS:GO, from its grassroots beginnings to becoming a global esports phenomenon.
Produced by Red Bull Media House, the film captures the essence of the game through the eyes of its most well known players, including Olof “olofmeister” Kajbjer Gustafsson, Patrik “f0rest” Lindberg, Richard “shox” Papillon, Gabriel “FalleN” Toledo, and Jarosław “pashaBiceps” Jarząbkowski, among others.
The documentary’s release is timed to precede the playoff stage of the PGL Major Copenhagen, scheduled for March 26, 2024. It will premiere on Red Bull Gaming’s YouTube channel at 21:00 CEST, offering viewers worldwide an insider’s perspective on the beloved game.
Event Details:
- What: Premiere of “Memories of CS:GO – The Early Years”
- When: March 26th, 2024, at 21:00 CEST
- Where to watch: Red Bull Gaming’s Youtube Channel
- The “CS:GO Memories” documentary can be viewed shareit.redbull.com
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Ten Square Games ready for a new development opportunities in 2024
2023 ESPI package
The following documents in pdf format are equivalents of the official Consolidated Financial Statement which were reported in ESPI (download in the zip file above)
2023 Consolidated Financial Statement
2023 Management Board Report on Activities
Independent Auditor’s Report on the Audit of Annual Consolidated Financial Statements
Link to the stream
Link to the chat with individual investors
Presentation
Factsheet
Financial data
Transcription of the conference and Q&A session
For complete press release visit tensquaregames.com
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