Gaming Realms announced its full-year financial results for 2024, with total revenue reaching £28.5 million ($36.9 million), a 22% increase from 2023.
Overall, the significant year-over-year revenue growth at Gaming Realms can largely be attributed to the strong performance of licensing income in 2024. Additionally, the company further reiterated a positive start to 2025 in the first quarter of this year—stating that current revenues are in line with management's expectations.
FY24 Financial Overview
Of Gaming Realms' total revenue, £24.5 million came from licensing income—a 23% increase year-over-year, while the remaining £3.5 million came from social publishing revenue, which also grew by 14%. In 2024, Gaming Realms also initiated a £6 million stock buyback program.
On other fronts, EBITDA grew from £9.2 million in 2023 to £12.3 million, with adjusted EBITDA reaching £13.1 million, a 30% increase year-over-year. Indeed, the strongest financial growth for Gaming Realms came from company profits, which grew 61% year-over-year to £8.3 million. Additionally, the supplier successfully eliminated debt this year, with the year-end cash balance increasing from £7.5 million in 2023 to £13.5 million.
FY24 Highlights
It was a busy year for Gaming Realms. The provider obtained full iGaming supplier licenses in the markets of West Virginia and British Columbia, with entry into West Virginia marking the company's fifth state market entry in the US. Additionally, in North America, the company established new partnerships with FanDuel and Fanatics across multiple states.
In Europe, Gaming Realms partnered with Hard Rock Casino in the Netherlands in July, followed by a partnership with Danske Licens Spil aimed at expanding the supplier's influence in the Danish market. Recently, the company appointed Lauren Bradley as its new Director of Client Management.
Notably, in September 2024, Gaming Realms also launched a new Caesars Blackjack game in the US and Canada.
CEO's Comments
Mark Segal, CEO of the group, commented on Gaming Realms' recent financial performance, saying: "I am delighted to report that 2024 was another record-breaking year for Gaming Realms, with our achievements including a 22% revenue growth and a 30% increase in adjusted EBITDA. This strongly demonstrates the effectiveness of our content licensing strategy and the growing momentum of our Slingo product portfolio in the international iGaming market.
"With this momentum, we recently launched products in the newly regulated iGaming market of Brazil, making a great start to 2025 and expanding our global operations to 21 markets. We also partnered with 9 new partners and released three new Slingo games, further enhancing our exciting and popular content portfolio. As we move into 2025, we look forward to sharing our continued expansion into new markets, the growth of our exciting game portfolio, and the latest developments with our upcoming partners."
