Gaming Realms announces board changes

1 February 2023

(PRESS RELEASE) -- The Company is pleased to confirm that it expects to report FY22 revenue of £18.7 million and adjusted EBITDA of c.£7.7 million, up 27% and 36% respectively year-on-year. This strong performance was driven by the continued growth of the Group’s licensing business that, during FY22, launched in two new North American regulated iGaming markets, Connecticut and Ontario, and with 58 new partners internationally.

The Group’s expansion into further new markets during Q4 FY22, as set out below, has continued into Q1 FY23.

The Company expects to report its FY22 Preliminary Results during the week commencing 3 April 2023.

Q4 2022 Update

The Company had a strong Q4, launching in multiple markets and with new partners. In October 2022, Gaming Realms launched in its 5th North American market in Connecticut, with DraftKings.

Also in Q4 2022, Gaming Realms launched games with 11 operators across its 5 markets in North America, including Caesars Sportsbook and 888 in New Jersey, Kindred in Pennsylvania, Four Winds in Michigan, and Ballys and Pointsbet in Ontario.

Increasing its European presence, Gaming Realms went live with 11 operators in Europe, including tier 1 operators Napoleon in Belgium, Snai in Italy and Pokerstars in the UK.

Gaming Realms also repaid its outstanding loan to JPJ Group Holdings Limited (a wholly owned subsidiary of Bally’s Corporation), leaving the Company debt free.

Board Changes

In light of the continued development and growth of the Company, Gaming Realms has appointed Mark Segal as CEO, and Geoffrey Robert Green, aged 34, as CFO and a director of the company, both with immediate effect.

Previously Mark Segal was CFO and acting COO, and Geoff Green was finance director in support of the CFO, and they have been successfully working together for more than three years. Michael Buckley remains as Executive Chairman.

The Board believes that these changes will enable the Company to continue the progress of the last three years, as it develops more fully in the territories where it is already represented, and seeks to expand into additional countries and regions.

Michael Buckley, Executive Chairman of Gaming Realms, commented: “The Company has delivered another strong, full-year performance with growth coming from both existing and new markets. This growth has been supported by the new partnerships signed with igaming operators as well as the extension of our Slingo catalogue, with the release of new Slingo formats during the period, which have proven to be very popular. We are seeing good momentum, and backed by an exciting commercial pipeline and new games, we are confident that we will achieve further progress in 2023.

“As stated above, the Company has repaid the outstanding loan from JPJ Group Holdings Limited. This was repaid from internal cash resources, which demonstrates the highly cash generative qualities of Gaming Realms, and leaves the company debt free.

“We are also delighted to announce that Mark and Geoff have been appointed CEO and CFO respectively. They have developed a strong working partnership in recent years whilst the business has achieved excellent growth. The Board is excited to be working with them in their new roles and supporting the Company’s ongoing commercial objectives.”


Related Links
Gaming Realms

FEATURED iGAMING SUPPLIERS
global-gaming-expo-g2e
mondogaming-srl
Global Gaming Expo (G2E)
The largest gathering of global, commercial and tribal gaming professionals in North America.
Mondogaming SRL
A leading software provider for sportsbook platforms, projected in the B2B and B2C business
casino-web-scripts
igpixel
Casino Web Scripts
Providing certified casino software & casino games with no monthly fees.Custom development available
Igpixel
Launch your online betting site w/ the latest technologies on IGPIXEL's advanced iGaming platform
casino-city-press
Casino City Press
A leading publisher and distributor of casino and gaming business data and market research reports.
Your Guide to 3,577 iGaming Industry Suppliers
ADD YOUR COMPANY   |   ABOUT US     linkedin Twitter Facebook