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Gaming Realms Reports on Past 15 Months
Wednesday April 22,2015 : GAMING REALMS REPORT ON TRANSFORMATIONAL YEAR
Revenue growth affected by increased marketing and operational expenditure.
Online gaming provider Gaming Realms plc, reported on its results for the fifteen month period ended December 31, 2014 saying its impressive revenue increase was impacted by increased marketing and operating costs.
Key performance indicators for the 2014 Financial year include:
Revenue increased 1,174 percent to GBP 11.2 million for the fifteen months trading to 31 December 2014 (2013: GBP 0.9 million)
Adjusted EBITDA loss of GBP 7.8 million (2013: GBP 2.3 million)
Marketing investment of GBP 10.2 million (2013: GBP 1.8 million) and amortisation of intangibles of GBP 1.3 million (2013: GBP 0.2 million) resulted in a loss before taxation of GBP 9.8 million (2013: GBP 3.4 million)
Strong balance sheet with cash and cash equivalents of GBP 4.0 million as of 31 December 2014 (2013: GBP 5.2 million)
Looking ahead, the company provided a trading update for the first quarter of 2015 in which it said the launch of its proprietary platform is delivering strong revenue growth and mobile play.
Quarter on Quarter revenue is up 23 percent to GBP 3.8 million, with real money gambling increasing 80 percent to GBP 1.8 million.
New depositing players have increased 51 percent to 35 857, while 20 daily average depositors amounted to 7 233, an increase of 20 percent.
Gaming Realms revealed 68 percent of its revenue on the newly developed platform is derived from the mobile channel alone.
Commenting on the results Michael Buckley, Chairman of Gaming Realms, said: "The Group has remained focussed on delivering multi-platform real money gambling to the casual gambling market through new content and social elements.
“Gaming Realms delivered a transformational year in 2014, the acquisition of QuickThink Media and Blueburra Holdings has enabled us to grow the customer base more rapidly. The completion of our proprietary platform and the successful inception of the SpinGenie brand have provided us with the foundations to deliver our unique gaming offering."
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Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
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MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
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New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
NY Rangers vs. Devils on 12/21 -
When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.
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