Gaming Realms has named Mark Siegel as its new head honcho. Siegel, who previously held the position of Chief Financial Officer and acting Chief Operating Officer, assumes the role right away.
Jeff Green, the company’s former financial whiz, will now take the reins as CFO. Green and Siegel have been working side by side for over three years.
Gaming Realms stated that these leadership changes will aid the company in continuing its growth trajectory over the past three years and bolster its ongoing expansion into more nations.
These appointments come as Gaming Realms releases its fiscal year 2022 trading update. The online slots developer anticipates revenue of £18.7 million (€21.2 million/$23 million) for the 12 months ending December 31. This signifies a 27% increase from the previous year. The company also expects adjusted EBITDA to climb by 36% to £7.7 million.
Gaming Realms emphasized that its commercial progress was fueled by the sustained expansion of its licensing operations, which debuted in two fresh regulated online gambling markets in North America (Connecticut and Ontario) in 2022, and added 58 new collaborators worldwide.
The majority of this activity transpired in the final quarter, encompassing the launch with DraftKings in Connecticut, making it the fifth state where the enterprise is operational. Beyond North America, fourth-quarter launches transpired in the UK, Italy, and Belgium.
Furthermore, Gaming Realms declared that the company has settled its outstanding debt to Bally’s Corporation’s wholly-owned subsidiary JPJ Group Holdings, rendering the business free of liabilities.
“The firm has achieved robust annual performance growth in both existing and novel markets,” stated Michael Buckley, Executive Chairman, in a leadership transition.
“This expansion has been propelled by new alliances with online gambling operators, as well as the enlargement of our Slingo catalog, with the release of fresh Slingo formats during the period that have demonstrated considerable popularity. We are witnessing favorable momentum and with stimulating commercial channels and novel games in the development pipeline, we are assured of further advancement in 2023.
“We are also delighted to declare that Mark and Jeff have been assigned as CEO and CFO respectively. They have cultivated a robust partnership over recent years, delivering substantial growth in the enterprise.”
The board is delighted to collaborate with them and wholeheartedly endorses the company’s aspirations for the future.
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