Gaming Realms posts loss of £5.4m for 2019

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Gaming Realms posts loss of £5.4m for 2019

By Iqbal Johal

Gaming Realms has posted a loss of £5.4m ($6.7m) for 2019, despite revenue rising 11% year-on-year.

The supplier’s loss for the full year 2019 comes after posting a profit of £900,000 in 2018.

However, excluding the impact of discounted operations and disposals, which stood at £800,000, the group reduced yearly loss by £1.1m to £4.6m.

Continuing revenue rose to £6.9m for 2019, but continuing Adjusted EBITDA loss increased to £300,000, up from £100,000 in 2018.

Licensing revenue increased 84% to £4.1m due to what the group says was the successful implementation of its games distribution, to operators in Europe and the US.

In terms of Q1 2020, licensing revenue has increased 90% from 2019, to £1.3m.

Executive chairman Michael Buckley said: «During the year we increased our games portfolio, secured key partnerships with industry leaders, and broadened our international reach and audience. I am delighted to report that this progress has continued into the current year.

«In light of the COVID-19 pandemic, I would like to reassure all our investors and stakeholders the group has taken every precaution to ensure the safety of our staff and those we work with.»

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