Gaming Realms delivered a solid performance in 2025, with revenue rising 10% year-on-year to £31.4 million, reflecting sustained demand across regulated markets and continued expansion through new partner launches.
The company’s primary source of growth remained the Licensing division, which generated an increase in revenue of £27.6 million, representing a growth of 13%. The profitability of the Licensing division also improved, with an increase in adjusted EBITDA of £15 million (+15%), while margins improved to 48%. The reported profit before tax was £8.8 million and cash increased by 32%, resulting in cash reserves totalling £17.8 million and a debt-free and financially agile company.
In operation, the Group expanded its Slingo offering with 12 new internally developed titles and eight bespoke versions tailored for particular markets. Additionally, the Group established partnerships with 40 new operators across North America, Europe, South America and Africa. The North American market continued to be important, representing 63% of total Licensing revenue; likewise, there was a 22% increase in players participating in the Licensing segment.
Furthermore, the Group took significant steps to diversify its product offerings by launching the Lucky Lunar Studio, a new development studio dedicated to the creation of traditional slot games, and by expanding its third-party product offering through a partnership with S Gaming. At the same time, UK performance improved during the course of the year as prior to the end of year the licence disruptions due to recent regulation changes began to settle.
Currently, the company maintains its momentum into 2026 with new market entries into Peru, Nigeria, Ghana and Kenya, and ongoing efforts toward expanding into Canada and the USA. The beginning of the year showed that Licensing revenues are already ahead of last year’s total and are benefitting from a strong pipeline of new content and a continued focus on developing regulated markets.
