Industry News
Gaming Realms Pre-close Trading Update: FY23 Record Revenue and Adjusted EBITDA with Growth of 23% and 28% Respectively
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Gaming Realms plc, the developer and licensor of mobile-focused gaming content, announced its pre-close trading update for the full year to 31 December 2023 (FY23).
The Company confirmed that it expects to report FY23 revenue of c.£23 million and adjusted EBITDA of not less than £10.0 million, up 23% and 28% respectively year-on-year, in line with Board’s expectations. The Company ended the year with £7.5 million of net cash.
This strong performance has been predominantly driven by content licensing, with growth across all major markets. During the year, Gaming Realms went live with a further 44 partners across all its markets. In terms of geographic expansion, the Company obtained licenses to supply its games into West Virginia’s iGaming market, the Group’s seventh license in North America, as well as Greece. The Company expects to launch in both these markets in the coming months.
Continuing the Company’s association with high-profile entertainment brands, in Q4 2023, Gaming Realms launched Slingo Space Invaders and Tetris Slingo, collaborating with two of the most iconic games brands of their generations. Gaming Realms also collaborated with Paddy Power to launch Slingo Bingoton, which was the best new launch on the Paddy Power Bingo platform in 2023.
The Company expects to report its FY23 Preliminary Results during the week commencing 1 April 2024.
Mark Segal, Chief Executive of Gaming Realms, said: “I am delighted to report on the exceptional year Gaming Realms has experienced. Our growth in FY23, with a 23% increase in revenue and a 28% rise in adjusted EBITDA, underscores the strength and appeal of our gaming content in the global market.
“The expansion into new territories and the addition of 44 new partners demonstrates our commitment to broadening our reach and enhancing player experiences. As we look ahead, we remain focused on delivering engaging content and expanding our footprint in key markets, ensuring that Gaming Realms continues to be a leader in the mobile gaming industry. We look forward to the future and the current year’s performance with confidence.”
Industry News
IGT Achieves Improved ESG Score from FTSE Russell
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International Game Technology PLC announced that it has achieved an environmental, social and governance (ESG) Score of 4.3 out of 5.0 from FTSE Russell, positioning IGT in the 97th percentile within the Travel and Leisure sector of FTSE Russell’s ESG Scores. This was an improvement from IGT’s previous ESG Score of 4.2 out of 5.0 in 2023, demonstrating its ongoing commitment to enhancing ESG performance.
“As a company committed to continually elevating our sustainability practices and leadership, IGT is proud to once again achieve an improved ESG score from FTSE Russell. Through our global Sustainable Play program, we execute sustainable practices and policies throughout our company and this improved score validates our ongoing efforts,” Wendy Montgomery, SVP of Marketing, Communications and Sustainability at IGT, said.
FTSE Russell’s ESG Scores and data model allows investors to understand a company’s exposure to, and management of, ESG issues in multiple dimensions. The ESG Scores are comprises an overall rating that breaks down into underlying pillar and theme exposures. Scores built on over 300 individual indicator assessments are applied to each company’s unique circumstances. The ESG Scores align with the UN Sustainable Development Goals (SDGs), all of which are reflected in FTSE Russell’s ESG framework.
The post IGT Achieves Improved ESG Score from FTSE Russell appeared first on European Gaming Industry News.
Industry News
Super Group Appoints Merrick Wolman to its Board of Directors
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Super Group has appointed Merrick Wolman to its Board of Directors, effective from February 18, 2025.
Mr. Wolman is the Chief Executive Officer of a global finance company and has worked closely with the Super Group executive team for over two decades.
Neal Menashe, Chief Executive Officer of Super Group, said: “We are very pleased to welcome Merrick to the board. His deep understanding of the gaming industry, alongside his wide range of experience in executive roles, will be of great value as we continue to pursue our global growth strategy and build on our successes to date.”
This appointment brings the total directors on Super Group’s board to nine, including five independent directors.
The post Super Group Appoints Merrick Wolman to its Board of Directors appeared first on European Gaming Industry News.
Industry News
Kindred Reports Decline in Revenue from High-risk Players for Q4 2024
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Kindred Group has reported decline in its share of revenue from high-risk players for the fourth quarter 2024 at 2.7% (Q3 2024 3.2%). The percentage of detected customers who exhibited improved behaviour after interventions showed an improvement at 92.2% (compared to 87.3% in Q3 2024). This positive trend is mainly the result of stricter measures across key markets, improved internal processes, as well as the exit from non-locally licensed markets as part of to the acquisition by La Française des Jeux (FDJ) in October 2024. This shift reflects Kindred’s broader commitment to maintaining high regulatory standards and fostering safer gambling practices.
“It is pleasing to see the decline in high-risk revenue during the fourth quarter of last year. We know that the share fluctuates between quarters, but the long-term trend is showing a steady decline. We remain dedicated and focused on improving our systems and processes to ensure we offer our customers a safe and fun experience,” Esther Scheepers, Head of Responsible Gambling at Kindred Group, said.
“The increased focus on responsible gambling by regulators and the industry is welcomed. From our end, we see that by combining our expertise with emerging technologies, we can further enhance detection capabilities. We are currently working on our existing detection system in combination with an additional system that will enable us to integrate more robust compliance features and optimize our overall approach to safer gambling. Furthermore, we are exploring opportunities to expand our research efforts, aiming to support data-driven discussions and looking at emerging trends in consumer protection. All these aspects are important to protect the integrity of the licence model and maintain a level playing field,” Esther Scheepers added.
The post Kindred Reports Decline in Revenue from High-risk Players for Q4 2024 appeared first on European Gaming Industry News.
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