Gaming Realms PLC on Wednesday said its half-year profit has risen by more than 50%, as the company remains optimistic about its full-year results.
The London-based mobile betting games developer reported pretax profit for the six months ended June 30 was £3.5 million, up 51% on-year from £2.4 million. Revenue rose 18% to £13.6 million from £11.5 million.
During this six-month period, Gaming Realms launched with 22 new partners across North America and Europe; signed a distribution agreement with Playtech PLC, the Isle of Man-based gambling software development company; was granted a full iGaming supplier licence in West Virginia, and released seven new games into the market, bringing the company’s total portfolio to 82 games.
Looking ahead, the company believes itself ‘well-placed to capitalise on this momentum’ and is optimistic about full-year results. Since June, Gaming Realms has increased its licencing revenue by 33% on-year.
Chief Executive Officer Mark Segal said: ‘We are delighted with our strong performance in the first half of 2024. Our focus on expanding our content licensing business has led to a 28% revenue growth and the successful launch of seven new games. These results reflect our commitment to innovation and solidify our position in the gaming industry.
‘The achievements in the first half demonstrate the dedication of our team and the appeal of our unique gaming offerings. We are poised for further growth as we continue to expand into new markets, launch with new partners and strengthen our existing partnerships.’
Shares in Gaming Realms were down 1.6% at 37.10 pence each in London on Wednesday afternoon.
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