SBC News Voice of the Sports Betting Industry
London AIM listed igaming start-up Gaming Realms recorded increased revenues of $4.6 million, up from £3.6 million for the immediate six months prior, for its opening H1 yearly performance (period ending 31 September).
Improved revenues were driven by an increase in player activity, with a 14% increase in daily active players to 5205.
The operator still at growth stage, was able to narrow its pretax losses to £3.1 million, a slight improvement on the £3.3 million recorded for the prior year.
Gaming Realms management stated that the loss had been primarily contributed by an increased marketing spend of £3.1 million for the period and operational expenses in securing an Alderney Licence.
As part of its growth strategy Gaming Realms had also undertaken the acquisition of Blueberra Holdings, owners of online bingo media portal – Bingoport.co.uk. The operator further strengthened its marketing capabilities by acquiring igaming media specialists Quick Think Media.
Commenting on Company performance Patrick Southon Chief Executive of Gaming Realms said:
We are pleased to report the completion and launch of our platform which is showing good initial growth. We believe the acquisitions of QuickThink Media and Blueburra Holdings, coupled with the monetisation ability of our exciting new ‘feature led’ gambling platform, will enable us to grow revenues even more quickly in 2015,”
“The launch of Spin Genie, delivery of the proprietary platform; and exciting licence deals such as Slingo, gives the board confidence there are significant market opportunities ahead to achieve further progress in 2015 and beyond,” it added.
