The real money and social games developer, supplier and licensor Gaming Realms announced its results for the third fiscal quarter that ended on September 30th 2016.
The Chief Executive Officer of Gaming Realms Patrick Southon shared that the entire team of the company was very happy with its prolonged growth. He also highlighted the fact that the gaming content developer had managed to finally swing to profitability and emphasized on the fact that it happened in a quarter when the company had released a number of social and real money games.
According to Mr. Southon, the investments made by the content supplier in its own gaming platform contributed to the company’s overall performance, making it reliable, flexible and attractive to customers. The Gaming Realms’ boss also shared that everyone there were absolutely happy with the increasing number of partnership agreements with trustworthy media companies that would give them the chance to reach new customers and revenue sources.
The company, which specialises in creating gaming content and online gaming brands in the real money, social gaming and IP and content licensing sector, revealed that it performed well over the above-mentioned period. Gaming Realms also shared that its brands have been found attractive by customers, especially the Slingo brand which is currently quite popular among customers residing in North America.
In its latest trading report Gaming Realms announced that the real money net gaming revenue of the company over the three months ended at the end of September 2016 rose by 113% and reached £5.9 million. In comparison, the result posted by the company over the same period a year ago amounted to £2.8 million. There was also a massive, 189% increase in the developer’s revenue generated by its social gaming and licensing operations. The figures rose from £0.9 million in 2015 Q3 to £2.5 million in the third quarter of 2016.
The overall revenue of the company amounted to £9.1 million over the third fiscal quarter. It also more than doubled over the first half of 2016, reaching £16.632 million in comparison to the £7.954 million generated over the first six months of 2015.
Gaming Realms announced positive adjusted EBITDA for the first time, reporting that it managed to generate £960,000. The number of depositing players over the third fiscal quarter of 2016 on an average monthly basis also increased to 53,928, making a total of 55,387 over the first half of the year. This was a massive increase from the 15,493 depositing players in the first half of 2016.
The excellent performance of the company over the third quarter was believed to be due to its prolonged line growth, the profitable investments made over the first six months of the year, particularly in their Grizzly technology platform, the new partnership deals and several new websites and applications launched over the period. Gaming Realms revealed that the company would continue to follow its ongoing strategy in order to increase revenue in game content licensing in a numbr of social and real money gaming markets.
- Author
Olivia Cole
