Gaming Realms See Revenue Growth For H1

September 27, 2019 by

Gaming Realms has seen an increase in income of 18 per cent year-on-year mainly down to development in its licensing department, while the manufacturer of mobile games has also been prepared to reduce their losses over the duration. For the six months to June 30, 2019, total continuing revenue amounted to £ 3.2 m (€ 3.6m/$4.0 m), up from £ 2.7 m in the same era last year. In the first half, licensing surpassed social activities to become the developer’s main source of income, with licensing revenue rocketing 167 per cent year-on-year from £ 600,000 to £ 1.6 m.

Operators going live throughout 2018 and the first quarter have strengthened this, while Gaming Realms has also added several titles to its portfolio of games. Social income, on the other hand, fell 29 per cent from £ 2.1 million to £ 1.5 million, while other income was £100,000. Gaming Realms observed that rationalizing the social division is in the latter phases.

Marketing costs in terms of expenditure were reduced from £ 194,862 to £ 113,220, but operating expenses were slightly increased from £ 658,615 to £ 717,162. Gaming Realms also saw an increase in administrative costs from £ 2.2 million to £ 2.8 million. Adjusted income before interest, tax, depreciation and amortization (EBITDA) dropped from £ 195,462 to a loss of £ 946,052, but the promoter said this was mostly due to discontinued operations. Adjusted EBITDA for on going operations was a loss of £ 6,280 compared with last year’s negative £ 441,133. Total continued EBITDA was a £ 427,178 loss, an improvement on last year’s negative £ 494,331.

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