GAMING REALMS, DRIVING INNOVATION

Ticker: GMR

Price change since beginning of 2024: +8.75%

12- Month price change: +27.64%

INTRODUCTION

Gaming realms (GMR) is a company that was founded back in 2013. The company built a mobile gaming concept, and finally brought it to market. In 2015 the company developed a variety of proprietary games and built a distribution platform. In 2018, the company made a landmark deal with 888 Holdings in the UK, one of the world’s leading betting and gamin companies. The company then expanded into various markets, which include countries in the Eurozone, while also winning awards in the United States for best mobile supplier of the year. Additionally, one of its products was awarded the “Game of the Year” award in the US. With the strong growth the company has demonstrated, it could be one of the more interesting penny shares to consider.

GAMING REALMS STORMS TO A NEW RECORD

Gaming Realms (GMR) posted record financial performance in its 2023 annual report, with revenue growing 26% vs the 2022 fiscal year. Pre-Tax profit increased a staggering 47%. The company didn’t rest on its laurels, adding 14 partners in the first three months of 2024. The company continues to grow its platform, and the expansion of its partnerships is being reflected in its financial statements. The group has further announced a robust growth forecast in 2024, as it looks expand its portfolio into the Asian markets.

GAMING REALMS OFF TO A PROMISING START IN 2024

With the company coming off a record year, it has taken the initiative in 2024 with its announcement of new partnerships. Furthermore, the company reported that licensing income, which is a core business for the company, has already grown 20% in the first two months. The company has already gone live in Spain and the Netherlands, both new additions to the company’s ever-expanding portfolio. The company has highlighted that it remains committed to its expansion, while also taking advantage of markets it already has a footprint in, like the United States. Given the rapids rate of expansion it has recently experienced, the company could see another record-breaking year in 2024.

SO, CAN GAMING REALMS CAPITALIZE ON ITS RECENT GROWTH?

From a fundamental point of view, the company seems to have a firm grip on the growth strategy that it is looking to implement. Continuing expansion across the globe, the company is set to increase licensing revenues, while the nature of its business does seem to be incurring minimal costs. The company appears to have generated strong momentum, and it could capitalize on this momentum if it allocates its resources adequately. Given its most recent performance, one can have some confidence that for now at least, the company is allocating efficiently and generating strong growth. Price action since mid-April also seems to confirm this, with the stock rallying around 36%. The solid growth momentum since mid-April could make this one of the better performing UK penny shares at this time.