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GAMING REALMS DELIVERS IN Q3 REPORT
02nd November, 2016 at 14:26:49
Positive EBITDA for the first time.
Real-money mobile developer and publisher Gaming Realms is flying high following its latest financial results in which the company reported positive EBITDA for the first time.
The company said investment, particularly in its " Grizzly " technology platform, during the first six months of its fiscal year had paved the way to strong Q3 results.
Gaming Realms reported a 113% increase in real-money net gaming revenues to £ 5.9 million (Q3/2015: £ 2.8 million) along with a 189% increase in social gaming and licensing revenues to £ 2.5 million (Q3/2015: £ 0.9 million).
The period was littered with significant events including new partnerships with Bauer Media and Express Newspapers, the launch of thexfactorgames and starwins websites and the Slingo Arcade Facebook app.
"We are pleased with both the continued top line growth and our move into profitability for the first time, especially in a quarter in which we launched several new real money and social games," Patrick Southon, chief executive officer of Gaming Realms said.
"Our investment in our own platform is paying off through flexibility, reliability and greater player retention. We are delighted with the extended and growing list of partnerships with high profile media companies, opening up new audiences and sources of revenue".
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