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Highlights

  • GMR’s H1 revenue reached GBP 16.0 million, up 17.6% year-on-year.
  • Adjusted EBITDA rose 29.3% to GBP 7.5 million, supported by operational scalability.
  • Expanded U.S. presence to Delaware and new Slingo titles planned for H2.

Gaming Realms PLC (LSE:GMR), a FTSE AIM 100-listed UK company, develops, licenses, and distributes mobile real money and social gaming content, operating through Licensing and Social Publishing divisions across the UK, US, Canada, and other markets.

In H1FY25, GMR’s revenue stood at GBP 16.0 million, reflecting a 17.6% increase from GBP 13.6 million in H1FY24. The rise was led by international content and brand licensing, with total licensing revenue increasing 22% to GBP 14.1 million. Adjusted EBITDA was GBP 7.5 million, up 29.3% from GBP 5.8 million, supported by a higher licensing mix, operational scalability, contribution from brand licensing, and disciplined cost control. Profit before tax rose 20.0% to GBP 4.2 million, compared to GBP 3.5 million in the prior period, mainly due to improved EBITDA (adjusted EBITDA up 29.3% YoY) and stable administrative expenses.

Business Update
On 2 October 2025, the company announced expanding its licensing partnership with Light & Wonder, Inc. to develop Slingo versions of the games 88 Fortunes™ and Huff N’ More Puff™, both widely recognised in North America. The agreement combines Gaming Realms’ Slingo format with Light & Wonder’s brands and includes an option to develop a third title.

Outlook
The group expects continued progress from international licensing, with post-period licensing revenue up 2% despite currency headwinds and regulatory impacts in the UK. The entry into Delaware marks the company’s sixth regulated U.S. state, with additional launches planned in the Philippines, South Africa, Switzerland, and Greece. Planned Slingo releases, such as Slingo Gold Fish and Slingo Slinguini, are expected to support content-driven revenue growth in H2.

Top 10 Shareholders
The top 10 shareholders of GMR collectively account for approximately 40.44% of the total shareholding. Michael Buckley and Richard Ricci hold the largest stakes in the company at around 8.77% and 6.09%, respectively.

Stock Information
As of the closing price on 7 October 2025 (GBX 45.40), the stock has declined approximately 14.01% over the past three months, while it has increased 26.63% over the six-month period. The stock’s 52-week range spans from GBX 30.02 to GBX 57.02, and it is currently trading below the midpoint of this range.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels Is 7 October 2025. The reference data in this report has been partly sourced from EODHD/Others.

Technical Indicators Defined

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.