Gaming Realms plc (LSE:GMR) delivered another best-ever performance in 2025, with revenue expected to rise 10% to approximately £31.4m and adjusted EBITDA increasing 15% to £15m, despite unfavourable currency effects. The group’s asset-light content development and brand licensing strategy continued to scale well, with particularly strong momentum in the U.S., where revenue across six regulated iGaming states increased 19%. As a result, the U.S. accounted for 61% of total group revenue for the year.
International expansion also accelerated, with the Slingo portfolio launched through 40 additional partners and new market entries completed in South Africa and Switzerland. This extended Gaming Realms’ footprint to 30 regulated jurisdictions globally. In the U.K., revenue declined 10% following the introduction of new staking limits in April 2025, although management noted that sales had recovered to previous levels by the end of the year. Early trading in 2026 has been described as encouraging, and the group plans to step up investment in game development while progressing further geographic expansion, including potential launches in Alberta and Maine.
Financially, the business remains well positioned, supported by a strong balance sheet and disciplined cash flow management. The ongoing share buyback programme has added to shareholder returns, reinforcing capital efficiency. That said, market technicals point to some near-term caution due to weaker momentum, and the absence of a dividend may limit appeal for income-focused investors.
More about Gaming Realms plc
Gaming Realms plc is a developer and licensor of mobile-first gaming content, best known for its Slingo-branded games alongside bingo and slot titles. The group operates across the U.K., U.S., Canada and Malta, with a strategic focus on regulated iGaming markets. It leverages proprietary technology, data analytics and distinctive intellectual property to create and distribute engaging gaming experiences for a global audience.
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