Mobile gaming specialist Gaming Realms has announced full-year adjusted EBITDA of £0.8m for 2017, thanks to a 113 per cent rise in real money gaming to £2.7m.
Contrasting with 2016’s overall EBITDA loss of £2m, the firm – which recently signed a deal with Sony Pictures Entertainment – is focusing on content licensing in order to drive higher margin revenues going forward.
This year, Gaming Realms has agreed four new licensing agreements with 888 Holdings, Golden Nugget Casino, Leander Games and Gaming Innovation Group.
“Achieving profitability marks a major milestone for Gaming Realms,” said CEO Patrick Southon.
"We have continued to deliver on our strategy of developing and distributing our unique Slingo branded range of games, both direct to customers via our in-house gaming and social platforms, and increasingly via licensing our games to third party operators.
“The focus on content licensing has shown excellent early success and will provide Gaming Realms with longer term, consistent higher margin revenues. The recent agreements signed with major gaming and media companies illustrates the creativity of our content, and we look forward to further progress and growth in 2018.”
Also in 2017, Gaming Realms’ total revenue was down seven per cent to £31.6m (2016: £34m), while securing a 10-year services agreement and £3.5m convertible loan with Jackpotjoy Group. The firm also settled a £3.3m final tranche payment relating to the Slingo acquisition.
