A solid set of numbers out this morning for Armchair Trader pick Gaming Realms [LON:GMR], which we bought at 25p. GMR reported total revenue growth of 36% to £11.5m in the first half of this year. Group adjusted EBITDA was up 37% to £4.8m over the same reporting period.
The company also reported total licensing revenue was up 46% with content licensing revenue up 37%.
We picked Gaming Realms for a number of reasons, but foremost was that it represented a good growth prospect in the igaming space, which is expanding rapidly on a global basis. Stocks in the gaming sector also tend to do well during periods of economic slowdown, as we are experiencing at the moment.
We spoke with CEO Mark Segal, who said the company has a strong pipeline of new business coming through, including with existing operators and new operators. He said he had great confidence in the longer term prospects for the business.
Want the full story? Access all of The Armchair Trader's content for just £5.99 per month.
Get weekly investment ideas and tips that will take your investing to the next level. Sign up here.
Free 28 day trial. Cancel anytime.
Log In or Sign Up to Armchair Trader+Already a member? Log in here:
Not a member? Sign up now or see the membership benefits
Further content of this article is not available as it is for members only. Please visit the registration page for Armchair Trader Plus+ for further details on the benefits of becoming a member.
