Despite heavy losses in 15 months, Gaming Realms reports progress especially with the completion of its proprietary platform.
Chief executive of Gaming Realms, Patrick Southern, revealed to gambling news sources that the company which deals in online gaming products creation has had a rather “transformational” 2014 with notable revenue growth. Gaming Realms trading report depicted that revenues upped from GBP 1.2 million GBP 900,000 over 15 months, through to December 31, 2014. Gaming Realms is a UK-based company operating under UK gambling laws and provides online gaming applications compatible with mobile, tablet and desktop computers.
Gaming Realms’ marketing services seems to be the pinnacle behind the GBP 7.3 million revenue growth. Real-money gaming accounted for GBP 2.7 million in revenue and social gaming generated GBP 1.2 million. Gaming Realms however recognized that adjusted earnings before interest, tax, depreciation and amortization increased from a loss of GBP 2.3 million in 2013 to a negative of GBP 8.2 million, over a 15-month period.
In less than 7 months mobile players have risen to 80%, a record number
Southern stated that “2014 was a transformational year for Gaming Realms. The completion of our proprietary platform and the successful inception of the Spin Genie brand have provided us with the foundations to execute our strategy in 2015. We are confident that shareholders will see much improved results for 2015.”
Gaming Realms management has also divulged that its Bear Group subsidiary reported that its company-owned platform that was launched in September 2014, has been a huge success. Since the launch, 82% of players have indulged in mobile betting, which in turn has accounted for 60% of total revenue for the online gaming company.