Gaming Realms has a new leader at the helm, Mark Siegel. He previously served as the company’s financial chief and acting chief operating officer before assuming this position. Siegel takes over from Jeff Green, who was the financial chief and will now return to that role. The two have collaborated for over three years.
Gaming Realms is extending its reach into more nations and regions. They anticipate a 27% surge in income for the year ending December 31st, reaching £18.7 million. They also project their adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to climb by 36% to £7.7 million.
Gaming Realms declared that its commercial expansion was driven by the continuous growth of its licensing operations, which entered two new regulated online gambling markets in North America (Connecticut and Ontario) in 2022 and added 58 new partners worldwide.
The firm achieved considerable progress in the final quarter, including launching in Connecticut with DraftKings, making it the fifth state where the business is active. Outside the US, the firm launched in the United Kingdom, Italy, and Belgium in the final quarter.
Furthermore, Gaming Realms stated that it had repaid its outstanding debt to JPJ Group Holdings (a wholly owned subsidiary of Bally’s Corporation), making the business free of debt.
“The company has delivered robust annual performance growth in both existing and new markets,” said Michael Buckley, Executive Chairman, as the company announced management changes.
“This growth has been fueled by new partnerships with online gambling operators and the expansion of our Slingo portfolio, which saw the release of new Slingo formats that have proven to be very popular. We see good momentum and with the support of exciting commercial channels and new games, we believe we will make further progress in 2023.
“We are also pleased to announce the appointment of Mark and Jeff as CEO and CFO respectively. They have built a strong partnership over recent years, during which time they have overseen significant growth in the business.”
The board is delighted to collaborate with them and assist the company in achieving its objectives.
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