Gaming Realms (GMR)

Business description

Gaming Realms creates, develops and markets interactive next-generation online gambling games delivered via mobile, tablet and desktop computers. It listed on AIM via a reverse takeover (of Pursuit Dynamics) in August 2013.

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2014A 11.2 (7.8) (8.4) (5.0) N/A N/A
2015A 21.2 (4.1) (5.1) (2.2) N/A N/A
2016E 37.1 0.8 (0.4) (0.1) N/A N/A
2017E 54.3 6.9 5.8 2.1 9.3 10.4

Last updated on 28/06/2016

Investment summary

Gaming Realms has announced a strategic partnership with the Ayima digital marketing agency to inject its QuickThink Media (QTM) assets in return for a 10% stake valued at £540k. The deal allows Gaming Realms' management to focus on its core strengths of developing and publishing mobile optimised social and real money games. We expect that currency volatility related to its US-based social gaming business is likely to be the most immediate impact of the recent Brexit vote.

Last updated on 06/07/2016

Industry outlook

All gaming industry participants are likely to be impacted by the recent vote by the UK to leave the EU. In the short term it is business as usual and the full implications will only become apparent in the months and years ahead. Although clearly a discretionary spend, gaming revenues tend to be relatively resilient in times of economic volatility compared to other consumer discretionary sectors. Online gaming companies also have the flexibility to quickly adjust marketing spend in response to shifting demand.

Last updated on 06/07/2016

Key management

Patrick Southon, CEO
Mark Segal, CFO

Company address

44 Southampton Buildings
United Kingdom
0845 123 3773
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