Gaming Realms reported revenue of £8.5m (€9.6m/$9.7m) for the first half of 2022, up 9.8% year-on-year on the other.
A total of £6.4m of revenue came from content licensing revenue. Social games revenue reached £1.8 million, while brand licensing contributed £300,000 of overall revenue.
Revenue from North America alone was £4.7 million. During the quarter, the operator obtained an operating license in Connecticut and a supplier’s license for Ontario.
In Europe, Gaming Realms launched eight new games through its Slingo brand throughout the semester and entered the Spanish and Danish markets.
“The group enjoyed another period of strong growth supported by our continued expansion into the newly regulated markets of North America and Europe, with content licensing revenue up 57%,” said Michael Buckley, executive chairman of Gaming Realms.
“We also continued to develop our existing partnerships, adding new content thanks to our direct integration agreements, as well as the signing of new licensing agreements and the launch of a series of new games.
Operating expenses were £5.1 million. Breaking it down, administrative expenses for the quarter were £3.7m, while operating expenses were £1.1m. The stock option and related costs were £162,819 and the marketing costs were £53,274.
After these costs, earnings before interest, tax, depreciation and amortization (EBITDA) was £3.3 million.
After amortization, depreciation, finance charges and finance income, total pre-tax profit was £1.3 million.
The tax credit amounted to £44,719, bringing total profit for the period to £1.3m, an increase of 63.9% on the first half of 2021.
“While we are aware of the impact of rising inflation on global markets, the outlook for the group remains positive,” said executive chairman Michael Buckley. “The group has a strong pipeline of new business and will also see additional revenue from North America, as well as new market entries in Europe. As such, we expect to meet market expectations for the full year.