Industry News
Patrick Southon Steps Down as CEO of Gaming Realms
Gaming Realms has announced that its CEO Patrick Southon has stepped down from his role with immediate effect. Non-executive chairman Michael Buckley will now become the executive chairman until a permanent replacement for Southon is appointed.
“During my six years as CEO, the main focus of the company was on B2C real-money gaming. However, with the last of those assets disposed of in July 2019, and the company now stable and successfully implementing its new B2B focused game development and licensing strategy, I feel now is the right time for me to pursue a new challenge,” Southon said.
The mobile games developer said it expects to report 2019 revenue modestly ahead of its expectations, thanks to “encouraging” performance of its content licensing business, which added eight new licensing agreements during the year. Gaming Realms said it expects to report adjusted loss before interest, taxes, depreciation and amortisation of GBP500,000, unchanged year-on-year.
Looking ahead, Gaming Realms said the positive momentum has continued into the start of 2020, with the company launching its content on the sites of Leo Vegas and Buzz Bingo.
“The combination of our strong games portfolio, our existing distribution agreements with global partners, and our strong pipeline of new partnerships, means we are cautiously optimistic about the significant opportunities ahead of us as we focus on the growth of the company,” Buckley said.