UK-based gaming developer Gaming Realms plc announced earlier today its financial results for the fifteen-month period ended December 31, 2014, as well as its trading update for this year’s first quarter.
According to the released information, Q1 revenue totaled £3.8 million, up 23% as compared to the figures posted in the previous quarter. Real-money gambling revenue grew by 80% quarter-on-quarter to £1.8 million. The number of new depositing players increased 51% to more than 35,850. Daily average depositors increased to 7,233 compared to 6,003 in the fourth quarter of 2014.
The growth in revenue was attributed to the launch of a new proprietary platform. Prior to its introduction, 92% of the company’s UK-based customers played on desktop. Mobile play on the newly-developed platform accounted for 68% of the overall revenue.
As mentioned above, the gaming developer announced its financial results for the fifteen-month period October 1, 2013 to December 31, 2014, as it had previously decided to change its fiscal year to match the calendar one. Revenue for the reported period totaled £11.2 million compared to about £881,000 posted in 2013. The considerable increase, however, was offset by a rise in market expenses to £10.2 million and administrative expenses to £6.4 million.
EBITDA loss widened to £7.8 million from a loss of £2.3 million reported in the previous fiscal year.
The number of average monthly depositors increased slightly from 9,153 to 9,257. The company posted a significant growth in the number of average daily active depositors from 1,012 in fiscal year 2013 to 4,198 in the fifteen-month period ended December 31, 2014.
Michael Buckley, Executive Chairman of Gaming Realms, said that the company was mainly focused on the provision of “multi-platform real money gambling” options through the introduction of social elements as well as new content. According to him, 2014 was a “transformational year”, as the company acquired Blueburra Holdings and QuickThink Media, which contributed to the rapid growth of their customer base.
Mr. Buckley further explained that the completion and the launch of their new proprietary platform as well as the introduction of the SpinGenie brand provided them with the opportunity to offer to their customers high-quality gaming content.
Patrick Southon, Chief Executive Officer of Gaming Realms, said that their main purpose is to continue growing their business through the newly-launched platform, which is deploying techniques for the acquisition and retention of customers as well as for the constant modernization of the gaming content. The company will also keep on targeting the “casual gambling market” with products that are available both on desktop and mobile devices.
