Gaming Realms share price on verge of 5 year high as it expects momentum to continue

The Gaming Realms (GMR) share price is on the verge of hitting a five year high after it confirmed earlier in this week that is continuing to trade ahead of expectations.

Shares in the mobile gaming content provider have continued to gain traction after it confirmed that revenues and profits were on the up for the first half of 2020 – revenues were at £5m for the half-year (2019: £3.1m) and adjusted EBITDA turned a positive at £1.2m (2019: £0.1m loss).

Adoption of new ‘Slingo’ games are a driving force behind this performance as it confirmed that revenue growth has been maintained following lockdown.

It now expects full year revenue and EBITDA for the year ending 31 December 2020 to be far ahead of expectations.

Shares in Gaming Realms are currently at trading just shy of 23p – narrowly off a 5 year high of around 27p.

GMR’s performance comes against wider backdrop of continued good performance for providers of mobile and video games as consumer habits have changed and been maintained.

GMR’s share price has increased by nearly 350% since March.

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