Internet gaming firm Gaming Realms has announced their first half 2016 financial results, noting a large increase in gaming revenues and mobile performance.
Key financial indicators for the first half ending June 30th, 2016 were:
- A 109% increase in revenue to £ 16.6 million (H1/2015: £ 7.9 million), of which Real Networks' social gaming assets contributed £ 3.8 million of social and licensing revenues during the period.
- Real money gambling revenue on the Grizzly platform up 143% to £ 10.2 million (H1/2015: £ 4.2 million).
- Mobile usage dominates on Grizzly platform, with 84% of depositing players using mobile (H1/2015: 80 percent).
- Player take-up increased 269% with 143,282 new depositing players during the period (H1/2015: 38,869).
- Adjusted EBITDA of around - £ 3 million, a decline of 24% (H1/2015: 2.4 million). Includes a H1/2016 front loaded growth investment in marketing of £ 9.5 million related to the Group's ongoing investment in slingo.com and the launch of Britain's Got Talent games.
Commenting on his company's performance Gaming Realms CEO Patrick Southon said, "The Group has delivered an excellent first half as a result of focusing on our proprietary technology and games publishing and licensing."