Betting firm Gaming Realms has posted their first half 2019 financial results, noting that revenues rose by 18% from the year prior.
Key financial indicators for the first half ending June 30th, 2019 were:
- Revenues up to £3.2 million, up from £2.7 million last year
- Licensing revenues up 167% to £1.6 million
- 13 new partners going live during the period
- Social revenue down 29% to £1.5 million
- Other revenue of £100,000
- Marketing costs of £113,220 down from £194,862 last year
- Administrative expenses up to £2.8 million
- EBITDA down to a loss of £946,052
- Net loss of £3.2 million
Commenting on the results company CEO Patrick Southon said, "Our strategy to leverage our market leading 'Slingo Originals' games library into the UK and international gaming markets continues to gain momentum.
"Licensing our content to leading brands and gaming operators is delivering high margin revenues and the disposal of the RMG assets has given us greater resources to invest in content creation.
"We are currently performing in line with management's forecasts and with new commercial developments in the pipeline we are confident in meeting our full year objectives."