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Gaming Realms H1-2016 Report
GAMING REALMS DELIVERS IN H1/2016 RESULTS
Future looks bright as business re-alignment begins to pay off.
UK gaming firm Gaming Realms has generated impressive revenue growth, according to an interim results report for the six months ending June 30 2016, which it attributes to the success of its proprietary platform Grizzly and the acquisition of the social gaming assets from Real Networks.
Key performance highlights include:
- A 109 percent increase in revenue to GBP 16.6 million (H1/2015: GBP 7.9 million), of which Real Networks’ social gaming assets contributed GBP 3.8 million of social and licensing revenues during the period.
- Real money gambling revenue on the Grizzly platform up 143 percent to GBP 10.2 million (H1/2015: GBP 4.2 million).
- Mobile usage dominates on Grizzly platform, with 84 percent of depositing players using mobile (H1/2015: 80 percent).
- Player take-up increased 269 percent with 143,282 new depositing players during the period (H1/2015: 38,869).
- Adjusted EBITDA of around - GBP 3 million, a decline of 24 percent (H1/2015: 2.4 million). Includes a H1/2016 front loaded growth investment in marketing of GBP 9.5 million related to the Group’s ongoing investment in slingo.com and the launch of Britains Got Talent games.
“This investment in marketing has been the key driver in the growth of our revenues and depositing players, and compares to GBP 5.1 million of marketing expenditures in H1/15,” a company statement explained.
The Group has signed and launched a number of key initiatives which it believes will have a further positive impact on growth during the second half of 2016.
These include the launch of thexfactorgames.com and creation of a new game based on the television show, a B2B deal with Bauer Media for the co-promotion of SpinGenie.com and the launch of its Remote Game Server allowing the company to license its games to selected partners.
Patrick Southon, Chief Executive - Gaming Realms, said: "The Group has delivered an excellent first half as a result of focusing on our proprietary technology and games publishing and licensing”.
The Board believes that the Group is trading in line with market expectations, which implies that the Group will be EBITDA positive for 2016, the statement concludes.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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