Software Developer Behind New Jersey DraftKings Casino forecasts revenue growth of 55% in 2020

Gaming Realms, the gaming software developer behind the new DraftKings casino, expects revenue for its 2020 to have increased 55% year-on-year. The software developer credits that growth due to continued growth to its growing network of global partners.

Based on its sales and performance momentum since publishing its first-half-yearly results in September, Gaming Realms announced that its revenue for the 12 months through the end of the year should reach £10.7 million.

Due to these positive developments, Gaming Realms also expects adjusted earnings before interest, tax, depreciation, and amortization to exceed £2.7m for the year.

Analyzing its 2020 performance, the software developer said the forecasted growth is attributable to the expansion of its partner network, and the launch of new Slingo games. Other improvements across its other technologies also accounted for the revenue growth.

For the first half of the year, the software developer’s revenue was up nearly 66%, to more than £5 million, compared to the same period in 2019.

Revenue from licensing its casino gaming content to third party partners was up 103.5% over last year to £3.4 million, and its social gaming revenue was up 29.4% to £1.8 million.

Gaming Realms Adds Many New Partners in 2020

In the second half of 2020, Gaming Realms has gone live with five new partners, including DraftKings in New Jersey and the US, Gamesys, Sky Betting & Gaming, 888 Casino in Great Britain, Caliente in Mexico, and Paddy Power Betfair in Europe. The gaming software developer also launched four new Slingo titles.

Moreover, the gaming software developer has also applied for online gaming licenses in Michigan and Pennsylvania, with the goal of going live in these states in the first half of 2021.

The software developer launched its three-year partnership with DraftKings, making Gaming Realms’ Slingo Originals games available on DraftKings in New Jersey.

“Our growing portfolio of Slingo games continues to increase in popularity. Our partnerships are a testament to the quality of the content that Gaming Realms produces,” said Michael Buckley, Interim CEO and Non-Executive Chairman of Gaming Realms. “It’s thanks to leading operators such as DraftKings that we are growing our global footprint and reaching ever greater numbers of players. We are very pleased to be partnered with such respected operators in the gaming industry and look forward to working closely with the team at DraftKings to deliver unique and exciting content to all their users. This agreement helps to underpin the Board’s confidence in the coming year.”

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DraftKings Standalone Casino App

Over the summer, sports betting giant DraftKings launched a standalone casino app in New Jersey and Pennsylvania. While DraftKings leveraged its in-house technology to build the DraftKings Casino app, it has also partnered with software developers such as Gaming Realms, International Gaming Technology, Scientific Games and others, to populate its library of games.

Vice president of gaming at DraftKings, Jason March, said, “We’re excited to break new ground for DraftKings in the gaming realm with the launch of our DraftKings Casino app, the company’s first premier product that runs year-round regardless of the annual sports schedules. Following our debut in New Jersey, we look forward to nationwide expansion where regulations allow, and continued innovation to further positioning DraftKings as an all-inclusive gambling and entertainment experience.”

DraftKings Casino was originally made available in Pennsylvania within the DraftKings Sportsbook app. Now, DraftKings is prepared to launch its standalone casino app in more states where regulations allow.

In addition to the popular table games and slots found exclusively on DraftKings Casino, the new casino app will also offer live dealer games streamed from the dedicated DraftKings Live Dealer Studio in Pennsylvania, which operates 24/7. DraftKings also works in partnership with software developer Evolution Gaming, to stream live dealer games to its New Jersey players from its studio at the Hard Rock Atlantic City.

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