LONDON (Alliance News) - Gaming Realms PLC said on Wednesday its revenue had doubled in 2015 in line with its expectations, and it announced it had signed three licensing agreements for its popular Slingo format.
The maker of online gaming products said revenue for the year ended December 31 was GBP21.4 million, up 116% from 2014, and in the final quarter alone, revenue rose 14% versus the previous quarter. This was boosted by the tripling of real money gaming revenue to GBP10.8 million in 2015, with this rising by 39% in fourth quarter from the third.
Elsewhere the company announced it had signed three licensing agreements for its Slingo game format, which would provide revenue streams for the coming year.
Gaming Realms' agreement with Fremantle Media will see Slingo extended into new player channels under its X Factor brand to launch in line with the ITV show's air date.
The group has also signed agreements with Endemol, which will leverage the Slingo format to develop a new game launching in the second quarter, and with Zynga to bring a Slingo branded slot game to the social casino market.
"We are excited by what has already been achieved in social gaming following the acquisition of RealNetwork Inc's mobile games assets as we look to build out our games offering and publishing capabilities. The group is already reaping the benefits of the acquisition, evident by the signing of the agreements with Fremantle, Endemol and Zynga. These agreements will open the group up to new player audiences and revenue streams," said Chief Executive Patrick Southon.
The group will report its full results for 2015 in April.
Gaming Realms' shares were up 4.4% at 21.92 pence on Wednesday morning.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
Copyright 2016 Alliance News Limited. All Rights Reserved.