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Highlights

  • Investec Bank’s Roberta Ciaccia reaffirmed a Buy rating with a price target of AUD 1.38 (GBP 0.6967).

  • Canaccord Genuity’s Mark J. Photiades issued a Buy rating with a price target of AUD 1.38 (GBP 0.6967).

  • Interim FY2025 revenue rose 18% to GBP 16.0 million (AUD 30.3 million).

  • Adjusted EBITDA increased 30% to GBP 7.5 million (AUD 14.2 million), achieving a 47% margin.

Gaming Realms plc (AIM:GMR), the developer and licensor of mobile gaming content, continues to draw analyst support as it expands globally. Roberta Ciaccia of Investec Bank (UK) PLC reaffirmed a Buy rating, setting a price target of AUD 1.38 (GBP 0.6967), implying a potential upside of more than 50% against the current share price.

Similarly, Mark J. Photiades of Canaccord Genuity reiterated a Buy recommendation with the same target price.

Financial Performance – H1 

For the six months ended 30 June 2025, Gaming Realms reported revenue of GBP 16.0 million (AUD 30.3 million), an 18% increase compared with GBP 13.6 million (AUD 25.8 million) in the prior period.

Adjusted EBITDA rose 30% to GBP 7.5 million (AUD 14.2 million), representing a margin of 47%, compared to 43% a year earlier. Profit before tax increased by 19% to GBP 4.2 million (AUD 7.9 million).

Net cash improved by 28% to GBP 19.0 million (AUD 36.0 million).

Operational Highlights

The company broadened its regulated market presence by launching in Brazil and British Columbia (Canada), while also securing a supplier license in Delaware, USA.

During the period, Gaming Realms released six new Slingo games, expanding its portfolio to 95 titles, and launched operations with 19 new operator partners globally.

Content licensing outside the UK grew 18%, with the U.S. market up 22%, offsetting UK softness caused by staking limit changes introduced in April 2025.

Brand licensing revenue surged 623% to GBP 2.4 million (AUD 4.5 million) due to a major deal signed during the half-year.

Outlook – Expansion Ahead

Management highlighted confidence in maintaining momentum into the second half of FY2025. Post-period, the company launched its Slingo titles in Delaware with Rush Street Interactive, marking its sixth U.S. regulated iGaming state presence.

Further launches are expected across the Philippines, South Africa, Switzerland, and Greece, alongside premium game releases such as Slingo Gold Fish and Slingo Slinguini.

With Buy ratings from Investec’s Roberta Ciaccia and Canaccord’s Mark J. Photiades, both setting a target price of AUD 1.38 (GBP 0.6967), analysts have underscored their confidence in the company’s growth prospects.