Gaming Realms PLC Shines with Double-Digit Revenue Growth in 2023
Gaming Realms PLC, the creator of slot games, is poised for a promising future, as affirmed by its house broker, following yet another year of robust revenue growth in 2023.
Strong Endorsement from Peel Hunt
Peel Hunt, the renowned financial advisory firm, has reaffirmed its ‘buy’ recommendation for Gaming Realms, an AIM-listed company. Peel Hunt commended the company’s performance, noting that its guidance for the 2023 financial year aligns with their own forecasts.
Impressive Revenue Growth
Gaming Realms reported a remarkable 23% increase in revenues, amounting to £23 million in 2023. This marks another year of revenue growth surpassing the 20% mark. Furthermore, the company anticipates underlying earnings to reach at least £10 million.
The driving force behind this impressive growth was content licensing. Gaming Realms forged approximately 45 new partnerships during the year and expanded its presence in countries such as Portugal and the United States.
Peel Hunt has set an ambitious target share price of 60p for Gaming Realms’ stock, representing a substantial 90% premium compared to the current trading price of 67p.
CEO Mark Segal’s Perspective
Gaming Realms’ Chief Executive Officer, Mark Segal, highlighted the significance of the company’s growth: “As we look ahead, we remain focused on delivering engaging content and expanding our footprint in key markets, ensuring that Gaming Realms continues to be a leader in the mobile gaming industry” he said.
Gaming Realms’ consistent double-digit revenue growth in 2023 and the endorsement from its broker Peel Hunt showcase the company’s potential and bright prospects in the gaming industry, setting a positive trajectory for its future endeavors.