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MARKETING PUTS GAMING REALMS IN THE RED
16th June, 2014 at 08:49:49
But revenues and player acquisitions are climbing.
Online gambling group Gaming Realms has reported a mixed bag of financial news for the six month period to end March 2014, noting that revenues soared 400% to £ 3.6 million in the period and player acquisition is good, but that aggressive marketing has created a loss prior to taxation of £ 4.9 million (2013 same period £ 3.4 million loss).
Chief executive Patrick Southon is unperturbed by the loss, saying that it was expected due to heavy marketing and is in line with the company's overall financial strategy.
"We are pleased with our growth in player acquisitions and revenue. In accordance with our business strategy and financial plan, we invested aggressively in marketing, which has translated into a solid foundation for the future growth of our business, he said Monday.
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