Gaming Realms (GMR)

Business description

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

Stock data

Market cap.£51.1m
Last close18.63p
High / Low (52 weeks)27.0p / 18.1p
Stock market listingLN
Forecast net cash (£m)1.2
Forecast gearing ratio (%)N/A
TeamConsumer
SectorTravel & Leisure

Price performance

%1m3m12m
Actual(4.5)(5.7)(24.4)
Relative *(5.4)(13.8)(34.5)

* % Relative to local index

Other companies in sector Show

Company news

Gaming Realms plc (GMR.L)

Thu, 01 Feb 2001 00:00:00 GMT

Gaming Realms PLC licenses 90-ball bingo game to New Jersey operator

Wed, 23 Mar 2016 10:28:48 GMT

Gaming Realms' Britain's Got Talent website takes to the stage

Mon, 11 Apr 2016 08:19:40 GMT

Gaming Realms to launch new gaming sites for Express Newspapers

Thu, 29 Sep 2016 08:03:45 GMT

Gaming Realms hands control of QuickThink Media to Ayima London

Tue, 07 Jun 2016 14:26:15 GMT

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) (5.0) (2.1) N/A N/A
2016E 37.1 0.3 (1.7) (0.6) N/A N/A
2017E 54.3 6.9 4.9 1.7 11.0 9.5

Last updated on 14/09/2016

Investment summary

We take three key messages from Gaming Realms’ interims: strong growth in real money gaming, significant progress with major blue-chip licensing partners and management’s belief that the group will be EBITDA positive for 2016. The latter implies maiden EBITDA profits of over £3m in H216 underpinning our unchanged EBITDA forecast of £6.9m for 2017. More importantly, this suggests that the group has passed a tipping point in its development, which is not yet reflected in the 2017 EV/EVITDA of only 7.2x.

Last updated on 14/09/2016

Industry outlook

H2GC expects European online gambling to grow at a CAGR of 9.2% between 2015 and 2018 (to $27.2bn). About 25% comes from online casino, 15% from lotteries, 35% from sports and 25% from poker/other games. Most of the growth is coming from the increased use of mobile devices, with mobile gambling growing at 21.5% (to €10.8bn) to account for 40% of all online gambling by 2018. The social casino industry is estimated to be worth $3.46bn (source: Eilers), growing to $4.44bn by 2017, a CAGR of 13.5%.

Last updated on 01/09/2016

Key management

Patrick Southon, CEO
Mark Segal, CFO

Company address

44 Southampton Buildings
London
WC2A 1AP
United Kingdom
0845 123 3773
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