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Gaming Realms PLC

Gaming Realms targets development of Slingo brand, international distribution and US expansion for 2019

Following its success in New Jersey, the firm said it would look to expand into any US state that regulated online gaming

Slingo
The company is aiming to develop and license mobile games under its Slingo brand

Gaming Realms PLC (LON:GMR) is targeting development of its Slingo brand as well as international distribution and US expansion for 2019.

In an outlook statement accompanying its full year results, the company said it would develop and licence mobile-focused games under the Slingo brand while international distribution would increase income from its game portfolio.

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GMR added that following its success in New Jersey it intended to enter any US states that regulated online gambling.

Meanwhile, the company said once it had completed the sale of its remaining B2C real-money gaming (RMG) businesses shareholders could look forward to a period of “increasing stability” showing growth in licensing income, a “very significant reduction” in costs and a trend towards profitability.

In its figures for the year ended 31 December 2018, Gaming Realms reported a total profit of £900,000, swinging from an £8.2mln loss the year before, while continuing revenues fell 19% to £6.2mln.

The company also reported a net cash inflow of £200,000 in the year compared to a £1.3mln outflow in 2017, with a further £10mln due post the completion of the B2C RMG sale, which was expected “shortly”.

Patrick Southon, chief executive, said since launching its licensing business in 2017 it had captured over 3.5% of the market share in New Jersey and was looking forward to “focusing solely on increasing the cadence of game development and licensing delivery as more B2B partners come online”.

"The success to date in licensing our Slingo content illustrates a clear market opportunity to grow our revenue and profitability on an international level”, Southon said, adding that the firm’s recent deal with Scientific Games to distribute Slingo games via its global platform was expected to start contributing revenue in the latter part of 2019.

In early trading on Friday, GMR shares were 10.9% lower at 5.2p.

Quick facts: Gaming Realms PLC

Price: £0.06

Market: AIM
Market Cap: £16.92 m
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Gaming Realms' Slingo: Still going strong after 20 years

Philip Tuck, director of Business Intelligence at Gaming Realms PLC (LON:GMR), talks to Proactive about their decision to focus more on licensing and content development rather than operating games. Tuck also gives a walk through and demonstration of one of their popular games -...

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