Gaming developer Gaming Realms benefited from the £2.4 million sale of its affiliate business in H1 2018, but still posted a 27% revenue drop from the same period of the year previous.
Selling the affiliate wing of the company was regarded as one of the achievements for the first half of the year, alongside the signing of six new contracts licensing its Slingo Originals gaming portfolio in New Jersey and Europe and the launch of new ‘white label’ real-money gambling sites for the Health Lottery.
Revenue came in at £11 million for the Slingo developer, while the firm also announced an improved EBITDA for the period. The figure of £400,000 was £1.5 million higher than last year’s first-half loss.
Nine weeks into the second half of the year, the company increased licensing revenue 88%, and real money gaming revenue excluding UK B2C brands increased 10%.
CEO Patrick Southon said: “We believe that licensing our platform and content to leading brands and gaming operators will deliver high margin revenues, and we have been very pleased with the results of our efforts over the first half of 2018.”
Looking ahead to the remainder of 2018, Gaming Realms detailed plans to further expand the Slingo Originals library with additional content and grow its partnership base, which “will diversify customer concentration, provide a higher quality of income, increase revenues and allow the sharing of marketing spend.”