- Legal States
Fiona Simmons February 1, 2023 2 min read
Gaming Realms Posts Strong Results as CEO and CFO Change
Gaming Realms has announced that Mark Segal will now step in as its new chief executive officer, reporting a solid financial performance for the financial year
The company’s new appointment coincides with a strong uptake in the company’s results during 2022, where revenue increased by the outstanding 27% on a year-over-year basis.
New Executive to Preside Over Company’s Strong Growth
Segal previously served as a financial officer for the company, and he is privy to the way its finances and operations come together. In his new position, he will be tasked with broader strategy and overseeing the company’s general direction rather than an individual sector.
His position won’t remain vacant either, as Geoff Green will step up as the new chief financial officer instead. Green worked as finance director for Gaming Realms until now. Gaming Realms is confident that these changes will enable it to remain on course and pursue further strengthening of its operations.
Gaming Realms has reported a very strong financial year indeed. The 12-month period ending on December 31 allowed the company to hit a total revenue of roughly $23 million, or a significant 27% increase from the previous reporting period. The company also expects its EBITDA to perform well, climbing by 36% to around $9.50 million.
These numbers are not yet final, but the company has enjoyed sustained growth in North America, where iGaming markets such as Connecticut and Ontario in the United States and Canada respectively, have bolstered the company’s results.
Gaming Realms Set to Maintain Strong Course in 2023
Gaming Realms reaped strong benefits from its presence in Connecticut during the last quarter of the financial year and it further enjoyed new entries into the United Kingdom, Italy, and Belgium. Michael Buckley, the company’s executive chairman, commented on the most recent results and company outlook:
The company has delivered another strong, full-year performance with growth coming from both existing and new markets.Gaming Realms executive chairman Michael Buckley
Buckley remained optimistic about the company and said that the Slingo catalog has also been an important addition to the company’s overall offer and library of games. There was good momentum built up in 2022 that the executive said would carry on in the next year.
Buckley was similarly pleased with the new CEO and CFO appointments respectively. Gaming Realms is in a good position to continue growing in 2023 with the help of Segal and Green.
Although Fiona doesn't have a long-spanning background within the gambling industry, she is an incredibly skilled journalist who has built a strong interest in the constantly growing iGaming network. The team at GamblingNews.com is glad to have her on our roster to help deliver the best stories as soon as they hit. Aside from writing, she loves to dabble in online casino games such as slots and roulette, both for her own enjoyment and also as research to better improve her understanding of the industry.
Business February 1, 2023
Business February 1, 2023