Gaming Realms (GMR)

Business description

Gaming Realms creates and publishes innovative real money and social games for mobile, with operations in the UK and the US.

Stock data

Market cap.£24m
Last close8.45p
High / Low (52 weeks)18.6p / 7.0p
Stock market listingLN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
SectorTravel & Leisure

Price performance

Relative *3.52(32.02)(57.49)

* % Relative to local index

Other companies in sector Show

Company news

Ex-Ladbrokes CEO joins Gaming Realms as Pragmatic strengthens team

Thu, 19 Oct 2017 08:26:15 GMT

New London-AIM share issue sees Gaming Realms raise £1.1 million

Wed, 09 Aug 2017 10:47:55 GMT

Gaming Realms Expects Earnings Growth In 2017, But Will Be Limited

Wed, 13 Sep 2017 11:48:45 GMT

Gaming Realms confident of 2017 outlook following solid H1 performance

Wed, 19 Jul 2017 09:07:24 GMT

Gaming Realms secures ITV 'Love Island' games development partnership

Wed, 28 Jun 2017 10:30:00 GMT

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2015A 21.2 (4.1) (5.0) (2.1) N/A N/A
2016A 34.0 (1.0) (4.4) (1.6) N/A 10.0
2017E N/A N/A N/A N/A N/A N/A
2018E N/A N/A N/A N/A N/A N/A

Last updated on 13/09/2017

Investment summary

GMR is leveraging its 'Slingo' brand in real money gaming (RMG) as well as social, and via blue-chip licensing deals (Express Newspapers, 'Britain's Got Talent' website, Love Island TV show). H117 like-for-like revenue grew 5% to £15.7m with an EBITDA loss of £0.9m. GMR anticipates significant positive EBITDA in H217. The August $4m earn-out payment to RealNetworks has been delayed until December (for $4.5m) and the company has raised £1.1m from existing shareholders at 11p/share. Our forecasts are under review.

Last updated on 03/10/2017

Industry outlook

H2 Gambling Capital (March 2017) estimates that the global online casino market generated c €10.5bn in GGR in 2016 and forecasts a 6% CAGR to 2021, with mobile as a key driver. The UK government review into stakes and prizes is expected to focus mainly on FOBT machines in betting shops, which will not affect GMR. Possible tighter restrictions on gambling advertising could affect GMR but would be more relevant for bingo-led TV advertising before the 9pm watershed. The extension of POC gaming tax to 'free play' is likely to be enforced retrospectively from 1 August 2017.

Last updated on 03/10/2017

Key management

Patrick Southon, CEO
Mark Segal, CFO

Company address

44 Southampton Buildings
United Kingdom
0845 123 3773
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