Gaming Realms just released their financial results for the first half of 2024 and business is booming. Profits are up a sizable 51% to £3.5 million. Total revenues also increased substantially, with an 18% jump to £13.6 million. The main cash generator was their content licensing segment, which climbed 28% to £11.2 million. Their brand licensing revenue wasn’t as strong though, dropping a massive 67% to just £0.3 million. Not good as they didn’t sign any major brand deals this time around.
Their adjusted EBITDA saw some gains as well, rising 21% to £5.8 million. They also accumulated 28% more cash this year, with £9.6 million in net income. Their profit margins are stellar too. We’re talking 43% now, up from 41% last year.
Business across the pond is growing nicely too. They launched some new partnerships in the US with FanDuel, Fanatics and more. In Europe, they connected with Solverde, DAZN, LiveScore and even got a gaming supplier license in West Virginia. On the content side, they released 7 new games so far in 2024, bringing their total portfolio to 82 titles. They also saw a 24% increase in active players to 3.5 million friends.
Growth has continued after June as well, with licensing revenues rising 33% in the past couple months. They also got a new Canadian gaming supplier license in British Columbia. Earlier this year, they partnered with Danske Licens Spil to bring their Slingo games to Denmark. More European expansion moves too with deals in Denmark and the Netherlands.
Editor-in-chief and creator Cole Smith of casinocurrencies.com, has extensive experience with casino payment systems, The site was created to provide an honest and trustworthy resource for online gambling players.