Gaming Realms like-for-like revenues rise

Gaming Realms saw like-for-like revenue growth of 5% to £15.7m in the six months to the end of June.

It said this driven by the continued success from its proprietary mobile platform ('Grizzly') and its own unique Slingo IP driven games, plus steady growth in social publishing, which contributed £4.0m (H1/16: £3.4m) of social gaming revenues in H1/17.

Adjusted EBITDA losses fell by 71% to £0.9m (H1/16: £3.1m) and pre-tax losses on continuing operations fell by 30% to £4.1m (H1/17: £5.8m).

Chief executive Patrick Southon said: "The group has made significant progress towards profitability in the first half of 2017, with H1 losses reduced, the Board anticipates that the Group will be EBITDA positive for the year as a whole.

"Our strategy of focusing our resources and capital on real money gaming, whilst continuing to deliver content to other operators, is driving revenue growth. Additionally, our focus on synergies, cost management and reduction is driving improved profitability.

"The Group has been successful in agreeing new B2B content licences for the Slingo Originals portfolio of games and has launched new real money gaming sites and in partnership with Endemol and ITV respectively.

"Further progress is expected in the second half of 2017 across the business with the RGS partnerships with Resorts Digital Gaming and Rush Street Interactive becoming fully operational, the first European partnership with BetVictor recently launched and our game portfolio expanded."

At 8:28am: (LON:GMR) Gaming Realms Plc share price was -0.31p at 8.07p