UK-based developer of online casino games Gaming Realms reported on Monday its financial results for this year’s third quarter ended September 30. Overall group revenue for the period in review amounted to £6.2 million, up 48% year-on-year as compared to the £4.2 million posted for the same three months a year ago.
The company partly attributed the considerable increase to the rise in real money gaming revenue. The amount of £2.8 million was reported for the three months ended September 30 compared to the £2.4 million generated during the third quarter of 2014.
Sling Riches, one of the most popular games at the recently launched Slingo.com online casino site, accounted for 16% of the reported gross gaming revenue. The free-to-play mobile products offered at Slingo posted record September revenue of £322,928.
Gaming Realms said that Slingo.com is likely to further boost revenue in 2016 and the years to come. In August, the gaming developer completed the acquisition of certain assets from RealNetworks for the amount of $18 million, with the Slingo brand being among those. Patrick Southon, Chief Executive Officer of Gaming Realms, explained that the launch of the Slingo real money gambling site was their first step into the integration and the further development of the said assets.
According to Mr. Southon, the newly introduced casino site would additionally contribute to the current success of the Slingo Riches title, which was first introduced on the Gaming Realms platform in April 2015. The executive also pointed out that their newest acquisition, which is targeted at their mobile gambling customers, would secure both player and revenue growth in the years to come. It would also make it possible for the gaming developer to expand its presence on the UK regulated gambling market and to introduce even more differentiated product offering to local customers.
Gaming Realms also announced that the overall group revenue for this year’s third quarter is totally in line with initial market expectations and that it is positive about the financial results for the full fiscal year ended December 31, 2015.
In September, the company reported a record 89% year-on-year growth in revenue for the first half of the year. It then attributed its success to its white label operations and proprietary platform.
