Gaming Realms Reports Strong Interim Results for H1 2024, Driven by Content Licensing Growth

Gaming-Realms-Reports-18_-Revenue-Growth-and-Strong-H1-2024Gaming Realms plc, a leading developer and licensor of mobile-focused gaming content, has published its interim results for the six months ending June 30, 2024. The company reported significant growth in both revenue and profitability, driven largely by its successful content licensing business and key partnerships across North America and Europe.

The Board remains confident that Gaming Realms is well-positioned to capitalize on its growth trajectory and deliver further value to shareholders by continuing to expand into regulated markets and launching new content.

Financial Performance Highlights

For the first half of 2024, Gaming Realms achieved total revenue growth of 18%, reaching £13.6 million, compared to £11.5 million in the same period last year. This revenue increase was supported by strong growth in the content licensing segment, which saw a 28% rise to £11.2 million, making it the primary driver of the company’s growth.

By contrast, brand licensing revenues fell by 67%, contributing only £0.3 million due to the absence of major deals that had been completed during the same period in 2023.

Adjusted EBITDA also saw a robust increase of 21%, rising to £5.8 million and representing an adjusted EBITDA margin of 43%, up from 41% in the previous year. Excluding brand licensing, the company’s adjusted EBITDA grew by 46%, reflecting the operational leverage and efficiency within its core business.

Gaming Realms also reported a 51% increase in profit before tax, which reached £3.5 million, up from £2.4 million in H1 2023. The company’s net cash position increased by 28% to £9.6 million, underlining its strong cash generation capabilities.

Expanding Global Partnerships and Game Portfolio

During the first half of 2024, Gaming Realms launched with 22 new partners in key markets, including FanDuel in Pennsylvania and Connecticut, Fanatics in New Jersey and Michigan, and the Atlantic Lottery Corporation in Canada.

In Europe, new partnerships were formed with Solverde in Portugal, DAZN in the UK, and LiveScore in the Netherlands. These partnerships have solidified the company’s presence in regulated markets and supported its expansion goals.

Additionally, the company secured a full iGaming Supplier License in West Virginia, further enabling its North American expansion. A new distribution agreement with Playtech is expected to open up additional opportunities in Switzerland and the U.S.

Gaming Realms also released seven new games in the first half of 2024, increasing its total portfolio to 82 titles, up from 70 games in June 2023. Notable new releases include Slingo Capital Gains and Slingo Gold Cash, which have been well received by players. Unique players in the content licensing business grew by 24%, reaching 3.5 million, further highlighting the popularity of the company’s offerings.

Positive Post-Period Developments

After the reporting period, Gaming Realms has continued to experience positive momentum. Licensing revenues increased by 33% in the two months following the end of June compared to the same period in 2023. The company also launched content in West Virginia, its fifth regulated U.S. state, and received an iGaming Supplier License in British Columbia, Canada.

Gaming Realms expanded its presence in the European market by launching Slingo Originals content with Danske Spil in Denmark, and Betclic in Italy. Additionally, the company released new titles such as Slingo Press Your Luck and Slingo Phillies in partnership with BetMGM.

Outlook for FY24

Looking ahead, Gaming Realms is optimistic about its financial performance for the full year 2024. The company plans to build on its strong first-half performance by expanding into new international markets and strengthening its presence in existing ones.

CEO Mark Segal commented on the company’s performance, stating:

“We are delighted with our strong performance in the first half of 2024, with total revenue increasing by 18% to £13.6 million. 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.”

New game releases, including Slingo Fowl Play and Slingo Press Your Luck, are expected to drive further growth in the second half of the year.

Source:

“Gaming Realms announces its interim results for the six months to 30 June 2024”, gamingrealms.com, September 11, 2024

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Denmark’s Gambling Revenue Grows by 37% in June 2024, Boosted by Sports Betting

Euros-and-icasino-drive-Denmark-gambling-revenue-up-37_-in-JuneDenmark’s gambling market experienced a significant boost in June 2024, with total revenue increasing by 37.0% year-on-year to DKK703m (£81.1m/€94.2m/$103.0m), according to the latest figures from the Danish Gambling Authority, Spillemyndigheden. This growth was largely driven by a substantial rise in sports betting, which saw a notable increase during the Euro 2024 football tournament.

Sports Betting Leads the Growth

Sports betting emerged as the standout performer in Denmark’s gambling sector for June, with revenue soaring by 75.7% year-on-year to DKK271m. A significant portion of this, 64.1%, came from mobile betting, reflecting the growing trend of wagering via smartphones and other mobile devices. The Euro 2024 tournament, which began on 14 June and ran into mid-July, was a major driver of this increase. Although Denmark’s national team was eliminated in the round of 16 after a 2-0 loss to hosts Germany, the tournament still generated significant betting activity.

Online Casino Revenue Nears Record Levels

While sports betting was the highlight of June, online casinos remained the largest contributor to Denmark’s overall gambling revenue. Online casino revenue reached DKK303m, marking a 27.2% increase from the previous year. This figure was just shy of the record DKK310m reported in March 2024.

Slots continued to dominate the online casino segment, accounting for 76.4% of the total online casino revenue in June. Roulette contributed 6.7%, while blackjack accounted for 6.6%. Bingo also made a contribution, generating 3.9% of the gross gaming revenue (GGR) for the online casino vertical.

Retail Gambling Sees Modest Gains

Denmark’s retail gambling sector also saw growth in June 2024. Revenue from physical slot machines rose by 6.6% to DKK97m. Of this total, 79.2% came from gambling halls, with the remaining 20.8% generated by slot machines in restaurants.

Land-based casinos, another key component of Denmark’s gambling market, reported DKK32m in revenue for June, representing a 7.1% year-on-year increase.

Self-Exclusion Statistics Highlight Responsible Gambling Efforts

In addition to the revenue figures, Spillemyndigheden released data on self-exclusion through the Rofus platform. As of June 2024, a total of 50,403 individuals in Denmark have self-excluded from gambling. This includes 33,511 people who have opted for lifetime exclusion and 16,892 who have chosen temporary exclusion. The country’s gambling support helpline, StopSpillet, also recorded 32 calls in June, primarily from men aged between 26 and 35.

Source:

Euros and icasino drive Denmark gambling revenue up 37% in June, igamingbusiness.com, August 8, 2024.

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SBC Summit North America 2024: Sports Betting and iGaming Professional Insights

networking_learning_and_celebrating_success_inside_sbc_summit_north_america_2024Amidst a rapidly evolving industry, the SBC Summit North America, held from May 7th to 9th, emerged as an essential event for professionals in sports betting and iGaming. Attendees gathered to explore emerging trends, share best practices, and prepare for an exciting future in the industry.

Rasmus Sojmark, CEO and Founder of SBC, expressed his enthusiasm, stating, “We had nearly 5,000 of you join us this year, a substantial increase from the 3,500 delegates we gathered at the Meadowlands last year. I am always happy to feel your support, and it seems that every year, more and more of you realize how much work the entire SBC team puts into the event. Thank you for making this edition special. It was a blast.”

Engaging Conference Program and Notable Speakers

The summit featured an extensive conference program spread across four stages, with contributions from 300 industry leaders, offering attendees abundant learning opportunities. The event provided a platform to identify challenges, discuss solutions, and explore the potential of North American markets for both regional and global companies.

Among the notable speakers were BetMGM CEO Adam Greenblatt, seasoned professionals like Jan Jones Blackhurst, and former football legend Dan Marino. Insightful perspectives were shared by Nevada Congresswoman Dina Titus on taxation and Shawn Fluharty, President of the National Council of Legislators from Gaming States (NCLGS), who advocated for model iGaming legislation. Donna Orender, former President of the Women’s National Basketball Association (WNBA), added to the diversity of topics covered, ensuring a comprehensive discussion.

Stephanie Maxwell, Deputy Director and General Counsel of the Tennessee Sports Wagering Council, highlighted the event’s value, stating, “Being here and having the opportunity to listen to panellists and learn how they’ve addressed specific issues and pain points, it’s been really helpful.”

Kenneth Fuchs, COO of Caesars Digital, added, “The conference is organized in a way that makes it easy to find what interests you and the topics are generally useful regardless of your role in the industry. Everybody can come here and learn something.”

Networking and Inclusivity

Sarah Brennan, Senior Director of Compliance at BetMGM, shared her perspective as a speaker, noting, “One of the unique aspects of SBC is the very personal interaction prior to participating in this event, which allows you to speak on a panel that’s truly relevant to your personal experience in your professional capacity right now.”

The post-event survey for exhibitors and sponsors revealed a very strong Net Promoter Score (NPS), reaffirming SBC’s dedication to providing unique experiences and value to its customers. With 100 brands showcasing as exhibitors and sponsors, there was a notably diverse representation of companies.

Brennan emphasized, “There’s a big focus on inviting different groups; I saw a lot of vendors this year that hadn’t been at SBC previously, and many regulators are here. SBC does a great job of being very inclusive about who is represented, both from the US and across the globe.”

Sam (Shmulik) Segal, Co-Founder and CEO of MediaTroopers, a long-time sponsor but first-time exhibitor, remarked, “We decided to exhibit as this is our most important market and SBC Summit North America is the most important conference of the year. We always conduct a lot of business here; all of our partners are present. This year, we thought it was time to have a stand of our own so that people who don’t know the company can get to know it.”

Diverse Networking Events and Industry Insights

The show floor buzzed with various networking events, from gatherings for women in gaming to those for the tribal community, as well as meet-ups dedicated to responsible gambling. SBC’s objective of fostering diverse representation at the event was evident through the array of attendees.

Maxwell pointed out, “I’m a regulator in Tennessee, and our motivation (for attending this event) is the opportunity to connect with all the different kinds of people we work with – other regulators, vendors, operators.”

“The event has definitely evolved. There are way more people here. A lot more people, new entries, and new faces, and it’s exciting to see that every year honestly,” added Brett Hoffman, Founder of Gator Wagers.

Fuchs agreed, “Everybody that I generally want to catch up with is here, whether it’s across payments, data, innovation, or other operator peers, or people I know from the media, so it’s a nice mix of the industry.”

Segal added, “It seems that this time it’s even more packed than in previous years – we’ve seen everyone we’re working with in North America, everyone. It was amazing for us.”

In typical SBC fashion, the evenings concluded with networking events held at NY hotspots such as Slate NYC, Magic Hour Rooftop Bar & Lounge at Moxy Times Square, and the iconic Red Bull Arena.

Shawn Fluharty, who apart from his function as President of NCLGS, is also the Head of Government Affairs at Play’n GO, a headline sponsor of the party at Slate, commented, “You have companies from all over the world convening here because they know they’re going to shake hands with the people who are important in the industry and make those connections.”

Slot influencer Kelly Koffler was brief but expressive: “My biggest takeaway from the event is that you guys throw one hell of a party!” The Casino Kelly streamer, summarized the essence of the event well. “There’s a lot of value for anyone doing what I’m doing, because iGaming is only becoming more prevalent, so the more we learn, the more we can give to our viewers. They look up to us to be educated, so this is perfect for that.”

Mark Hicks, Managing Director of the NCAA, remarked, “This is the best event to attend throughout the year. Everybody we need to see is here, and the educational sessions are phenomenal.”

Source: “Networking, Learning, and Celebrating Success: Inside SBC Summit North America 2024”. May 14, 2024.

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Ige 2024, Shaping the Future of Gaming in Italy and Beyond!

The inaugural Italian Gaming Expo & Conference (Ige) promises to be a transformative two-day event on April 18-19, 2024, at the Palazzo dei Congressi in Rome. Themed “The Sustainable Future of Gaming,” it introduces a B2B platform dedicated to the Italian gaming industry. Concurrently, the Italian Gaming Awards 2024 (Iga) have kicked off, building anticipation for the gala evening on April 18th at Spazio Novecento in Rome.

20 Award Categories

Iga beckons companies at the forefront of the Italian market to submit applications across 20 award categories. With nominations open www.italiangamingwards.com on www.italiangamingwards.com until February 29, 2024, the awards ceremony is set to recognize excellence and best practices in the gaming sector.

The two-day Ige event caters to C-level executives, institutions, experts, scholars, and influencers. It offers a unique opportunity to explore key themes shaping the gaming world, including technological advancements, sustainability, and innovation. The event aligns with ongoing government and parliamentary reforms, shaping the future of the industry.

The evolution of technology is central to the gaming industry’s future. Ige places a spotlight on Supply Chain and Procurement managers, CFOs, and HR executive directors, unraveling the dynamics of the value chain, ESG models, Diversity & Inclusion, and new organizational processes fostering sustainability and digital transformation.

Ige delves into trends such as the metaverse, artificial intelligence, blockchain, and digital payments. Regulatory aspects, including the fight against match-fixing, horse racing sector revival, and esports regulation, are also in focus. Against the backdrop of impending legislative reforms, Ige aims to shape the industry’s approach for 2024 and beyond.

While dedicated to the Italian industry, Ige maintains an international profile. Collaborations with Imgl – The International Masters of Gaming Law, and media partnerships with global gaming organizations like Sbc Media, InterGame, and Casino Magazine, add an international dimension to the event.

Exceptional Scientific Committee

Ige’s content and organization benefit from an outstanding scientific committee comprising experts, scholars, and professionals. The committee, including luminaries like Lucio Lamberti, Francesco Rodano, Quirino Mancini, and Ludovico Calvi, ensures a balanced blend of industry and academia.

The Iga adds an extra layer of excitement to the Iga. An evening dedicated to rewarding excellence and best practices in the Italian gaming sector, it converges music, entertainment, and networking at the charming Spazio Novecento.

Ige is spearheaded by the Gn Media publishing group, leveraging its 15-year legacy in international gaming. With a monthly reach of over 1 million through the GiocoNews.it and EsportsMag.it networks, the group serves as a vital link in the gaming industry.

Supported by Media Partnerships with leading newspapers and press agencies, Ige ensures maximum visibility. An ad hoc communication campaign, strategic partnerships, and support from global event organizers further amplify its reach.

As the gaming industry prepares to witness the dawn of Ige, the event not only marks a debut but a pivotal moment in shaping the sustainable future of gaming in Italy and beyond.

Source”Nominations For The Italian Gaming Awards (Iga) Are Open An Event Within The Event In Cooperation With Ige – Italian Gaming Expo & Conference”. European Gaming. January 12, 2024.

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