Gaming Realms PLC has announced robust financial results for the first half of 2024, highlighting significant growth across key metrics.
The company reported an 18% increase in total revenue, reaching £13.6 million for the six months ending June 30, 2024. This growth was primarily driven by a 28% rise in content licensing revenue, which stood at £11.2 million. In contrast, brand licensing revenue declined by 67% to £0.3 million, due to the absence of major brand deals during this period.
Profit before tax saw a substantial 51% increase, reaching £3.5 million. Adjusted EBITDA grew by 21% to £5.8 million, supported by operational efficiency and a 43% adjusted EBITDA margin, up from 41% in the previous year[5>.
Key financial highlights
| Category | H1 2024 | H1 2023 | Change |
|---|---|---|---|
| Total Revenue | £13.6m | £11.5m | +18% |
| Content Licensing Revenue | £11.2m | £8.8m | +28% |
| Brand Licensing Revenue | £0.3m | £1.0m | -67% |
| Adjusted EBITDA | £5.8m | £4.8m | +21% |
| Profit Before Tax | £3.5m | £2.4m | +51% |
Market expansion and new partnerships
Gaming Realms continued to expand its presence in North America and Europe during the reporting period. Key partnerships include:
- FanDuel in Pennsylvania and Connecticut;
- Fanatics in New Jersey;
- Atlantic Lottery Corporation in Canada;
- Solverde in Portugal;
- DAZN in the UK;
- LiveScore in the Netherlands;
The company was also granted a full iGaming Supplier license in West Virginia and expanded its presence in Canada with an iGaming Supplier license in British Columbia.
New game releases and player growth
During the first half of 2024, Gaming Realms released seven new games, bringing its total portfolio to 82 titles. The company also reported a 24% increase in unique players within its content licensing business, rising to 3.5 million.
Following the reporting period, Gaming Realms has continued to see strong growth, with licensing revenue increasing by 33% in the two months post-period.
Future outlook
Gaming Realms remains optimistic about its full-year results, citing strong momentum and continued expansion into new markets and partnerships. The company believes it is well-placed to capitalize on this momentum and solidify its position in the gaming industry.
