Update: Another piece in the jigsaw
Gaming Realms is continuing to scale up and the £5.0m acquisition of Blueburra brings in a profitable bingo marketing business and a sizeable database for cross-promotion. The UK online bingo and casino market is evolving rapidly, with strong growth in mobile and tablet; investors are backing management’s excellent track record and the opportunity to take a meaningful market share. The 2016e EV/EBITDA is 7.8x, falling to only 4.8x for 2017e, suggesting further share price upside.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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