Outlook: A platform for growth
Powered by its own proprietary platform, Gaming Realms’ aim is to become a meaningful player in the entertainment-led, real-money gambling and social gaming markets. After a period of heavy investment in platform development and marketing, its Q315 trading update reported that revenues are ramping up as expected (up 48% on Q215), with the company set to deliver a step change in profitability in FY16. Its FY16e EV/EBITDA is 11.3x, falling to 4.3x for 2017e, a material discount to the sector.Gaming Realms is a developer, publisher and licensor of mobile games. Co.'s principal activities is that of an online bingo and casino operator, the provision and marketing of interactive bingo and casino services to customers in the U.K. and social gaming on Facebook and mobile to customers in the U.S. and Europe. Co. has three reportable segment. The social publishing provides freemium games to the U.S. and Europe. Licensing includes IP brand and content licensing to partners in the U.S. and Europe. The real money gaming products and marketing services operates Co.'s brands and provides other digital marketing services to both gaming and non-gaming clients in the U.K.
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