Gaming Realms Soars with Record-Breaking 2023 Fueled by Content Licensing Growth

Gaming Realms PLC (AIM:GMR, OTCQX:PSDMF) has achieved a record-breaking year in 2023, with a 26% increase in top-line revenue, reaching an impressive £23 million. The company’s remarkable growth was predominantly fueled by a 33% surge in its content licensing business, which accounted for £19 million of the total revenue.

The expansion in the content licensing sector was driven by Gaming Realms’ entry into new markets and the addition of 44 new partners over the year, alongside the launch of innovative games. The company’s Slingo portfolio, a unique blend of slots and bingo, led the charge, and it also licensed games featuring classic video game IPs such as a Tetris-themed game and Space Invaders, further diversifying its offering.

Gaming Realms’ portfolio of proprietary games expanded to 75, providing a diverse range of options for players. 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.

The company 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 to 2024, Gaming Realms’ CEO Mark Segal remains optimistic, 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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