International Demand: Gaming Realms Growth Driver in 2023
Date: 2024-04-03 Author: Robert Beloved Categories: EVENTS
Key moments from a record year
Gaming Realms is celebrating a strong 2023, identifying growing international demand as a key driver of growth. Total revenue increased by 25.6% to £23.42 million, exceeding forecasts and the previous year.
Revenue and profit growth
The company's revenue increased 25.6% compared to 2022, exceeding the target. Licensing revenues increased 33.3%, offsetting a slight decline in social publishing revenues.
EBITDA segment success
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased 29%, reflecting successful management of operating expenses. Extended EBITDA, which includes exceptional expenses, also showed strong gains.
Differences in revenue and EBITDA by segment
The company's licensing segment contributed the most to EBITDA, demonstrating the strategic performance of the business. The success of the Slingo game stands out as a key success factor.
New Partnerships and International Growth: Drivers of Financial Success
The company is actively expanding its portfolio, obtaining licenses in various jurisdictions such as West Virginia, Sweden and Greece. Entry into new regulated markets such as Portugal confirms the company's commitment to diversification.
Collaborations with major operators such as Bet365 and Penn Entertainment strengthen Gaming Realms' position and increase their global exposure.
Growth in North America and Europe: Capturing New Markets
Content licensing revenues in North America increased, reflecting successful partnerships with major players and the development of new games targeting the local market.
In Europe, the company also experienced significant growth, focusing on key markets and launches with new partners. Obtaining a license in Greece opens up new prospects for the company.
Prospects for 2024
The company sees the start of 2024 as promising, with plans for expansion and new game launches. New partnerships and planned launches in various regions promise to continue the successful trend.
Segal emphasizes the importance of global presence and innovation in the company's strategy, expecting further growth through expansion into new regions and the development of new gaming products.
Gaming Realms' revenue and earnings growth in 2023 demonstrates the company's strategic performance and ability to adapt to changing market conditions. New partnerships and international growth strengthen the company's position in the gaming content industry, promising continued success in the future.
