Gaming Realms reports record 2023, driven by strong content licensing growth
London, UK
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April 03, 2024 10:17 AM Eastern Daylight Time
Gaming Realms PLC (AIM:GMR, OTCQX:PSDMF) CEO Mark Segal discusses the company's record-breaking results for 2023 in an interview with Proactive's Stephen Gunnion.
The firm witnessed a 26% increase in top-line revenue, reaching £23 million, predominantly fuelled by a 33% growth in its content licensing business, which accounted for £19 million. This expansion was driven by the company's entry into new markets and the introduction of 44 new partners over the year, alongside the launch of innovative games.
Gaming Realms' Slingo portfolio led the charge, and it licensed games such as a Tetris-themed game and Space Invaders, leveraging classic video game IPs. Its portfolio of proprietary games expanded to 75, further diversifying its offering.
The company also marked its presence in new territories, including West Virginia, Sweden, Greece, and notably Portugal, where it launched in the last quarter of the previous year with positive results. The US emerged as its top market, showing growth of 22%, with the company live in several states and plans to expand into West Virginia.
Gaming Realms experienced a significant increase in unique users, exceeding 5 million, with a notable 33% rise in licensing revenue, much of which came from existing partners at the start of 2023. The UK and Canada were highlighted as key markets, with substantial growth observed, particularly in Canada's newly regulated Ontario market and Italy.
Looking forward, Segal remains optimistic about 2024, with licensing income already up by 20% in the first two months. The momentum gained since 2019, transitioning from a loss in that year to over £10 million in adjusted EBITDA in 2023, is expected to continue, driven by the compounding effect of new partnerships.
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