Mobile games developer and supplier Gaming Realms has recently reported a profit of £929,305 for last year after they had offloaded a number of affiliate marketing and B2C gaming assets, but was also hit with a drop in their continuing revenue. For the 12 months leading up to the end of December 31st 2018, the company had reported continuing revenue coming in at £6.2 million, which was down from £7.6 million of the previous year.
The operator has explained that this was primarily caused by a decline in their social revenue, which fell a total of 43% as compared to the previous year, from £6.9 million to £3.9 million. This figure was only partially offset by a 63% reduction in costs for their operations.
Despite this, the developer has also noted significant growth for revenue earned from licencing, which is comprised of content including their Slingo-branded products, which saw an increase of 167% in 2017 to £2.2 million.
Gaming Realm’s licencing division signed on with 17 new partners during the year, and their collection of proprietary games increased from 9 to 29. They have also started deals with a number of other distributes for the first few months of 2019. In terms of their continuing expenses, the developer was able to cut costs in a number of areas, with marketing expenses down from £2.3 million to £665,363, while operating expenses decreased from £1.5 million to £901,807, and administrative costs from £7.5 million to £4.9 million.
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