Upbeat trading update from Gaming Realms

Gaming Realms Plc released a trading update Monday reporting a strong third quarter with revenues up 48 percent and the launch of Slingo.comon its proprietary platform.

Slingo.com, recently acquired from Real Networks Inc.,  is expected to materially enhance Gaming Realms’ revenues into 2016 the company said.

Key performance highlights for the 12 weeks ending September 30, 2015 include:

–    Total group revenue of GBP 6.2 million, up 48 percent.  Includes revenue from Real Networks assets acquisition.

–    Real money net gaming revenue increased by 18 percent to GBP 2.8 million.

–     Average UK daily revenue increased by 47 percent to GBP 67 914 (Q2/2015: GBP 46 000), with average group daily revenue rising to GBP 81 340 since August 11, 2015.

–    Slingo Riches accounted for 16 percent of gross gaming revenues on platform in Q3/2015.

–    Slingo free to play mobile apps generated a monthly record of $500 000 revenue during September 2015.

–    Overall Group revenues are in line with market expectations for the full year ending December 31, 2015

“The launch of a Slingo based real money site is the first step in the integration and development of the assets acquired in August from Real Networks,” commented chief executive officer Patrick Southon.  “This new gambling site will build on the success of the Slingo Riches game which has been operating on our platform since April 2015.”

“We believe that this new product, targeted at our key mobile based demographic, will enable us to continue our revenue and player growth into 2016 and beyond. It will also expand our differentiated product offering in the UK gambling market.”

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