Gaming Realms Posts First Profitable Year

Internet betting group Gaming Realms has announced their first ever full year financial results where they posted a profit, revealing that numbers surged during the period.

Full year financial results for the period ending December 31st, 2017 were:

  • Adjusted EBITDA of £800,000, up from a loss of £2 million the year prior
  • Real money EBITDA up 113% of £2.7 million
  • Social publishing EBITA loss improved by 97% to just £100,000
  • Revenues down 7% to £31.6 million

Commenting on the results Gaming Realms CEO Patrick Southon said, "Achieving profitability marks a major milestone for Gaming Realms.

"We have continued to deliver on our strategy of developing and distributing our unique Slingo branded range of games, both direct to customers via our in-house gaming and social platforms, and increasingly via licensing our games to third party operators."

"The focus on content licensing has shown excellent early success and will provide Gaming Realms with longer term, consistent higher margin revenues.

"The recent agreements signed with major gaming and media companies illustrates the creativity of our content, and we look forward to further progress and growth in 2018."

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bgsharpe
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12 June 2018 - 9:41pm
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For sure more than a positive year for Gaming Realms if they're finally in the green, I guess that's relief for the company's management and a big boost for them psychologically.