Leading developer and licensor of mobile gaming content Gaming Realms plc (GMR) announced that it has enjoyed a successful 2021 and predicts to keep the positive momentum this year as well.
Gaming Realms Expects 27% Revenue Growth for 2021
In a pre-close trading update released on Wednesday, GMR released its results for the full year until December 31, 2021. The company expects to report £14.5 million ($19.6 million) in revenue for the full year 2021. Compared to 2020, this marks a 27% increase year-on-year.
Moreover, GMR expects adjusted EBITDA to hit £5.6 million ($7.6 million). Comparing that result to 2020, an increase of 70% is observed. With that in mind, GMR revealed that it expects its preliminary FY21 results to be released during the week starting April 25, 2022.
Last Year the Company Launched in New Markets, Expanded Distribution
Gaming Realms’ executive chairman, Michael Buckley, revealed that the company is delighted with its performance in 2021. He explained that last year, GMR grew globally by entering new markets but also expanded its Slingo portfolio.
“We are delighted with the performance in 2021, where we launched in new markets and increased the distribution of our expanded Slingo portfolio.”Michael Buckley, executive chairman at Gaming Realms
According to Buckley, the company is well-positioned to continue growing its international footprint and ink additional deals in markets it already operates. In conclusion, he revealed that GMR believes that “the strong momentum of last year will continue into 2022 which is demonstrated by entry into regulated markets announced today.”
GMR Continues Its Growth Strategy, Plans to Keep Momentum
Undoubtedly, GMR’s main focus in 2021 was to continue growing. Additionally, it acknowledged that its expansion into new markets in Q4 FY21 boosted the positive momentum into Q1 FY22. Only recently, earlier this month, the company entered the regulated market in Spain via a partnership with its strategic partner Gamesys.
Before that, last month, GMR significantly boosted its presence in Europe. The company went live in the newly regulated Dutch market with JVH gaming and entertainment group. In November 2021, GMR also entered the regulated iGaming market in Romania. The company joined forces with the largest digital and retail betting operator in the country Superbet.
Elsewhere, GMR launched into two key US markets – in Pennsylvania and Michigan. Overall, the company joined forces with 35 new partners last year. Undoubtedly GMR remains focused on growing globally and will keep the positive momentum this year as well.