Gaming Realms expects first-half Group revenue of approximately £15.5 million, down from £16.0 million a year earlier, in a pre-close trading update covering the six months to 30 June.
The AIM-listed mobile gaming content developer and licensor, best known for its Slingo format, said the year-on-year dip reflects a drop in non-core brand licensing revenue to £0.7 million from £2.4 million, which had included a significant multi-year renewal in the prior period.
Stripping that out, core content licensing revenue rose approximately 9% and Adjusted EBITDA increased around 16%, which the company attributed to continued growth and operating leverage.
UK revenue rose 3% despite Remote Gaming Duty rising to 40% from 21% on 1 April, with gross gaming revenue now back above levels seen before 2025's staking limit changes.
"It has been particularly encouraging to see UK revenues grow and gross gaming revenue return above pre-staking-limit levels, despite the increase in Remote Gaming Duty from April", said chief executive Mark Segal.
The Group launched content in Nigeria, Ghana, Kenya and Peru during the period, released 11 new games including three from its new Lucky Lunar studio, and expanded further into Spain with William Hill.
Net cash stood at £13.5 million at period end after £6.0 million was returned to shareholders through the ongoing buyback programme.
Post-period, the company launched in Alberta, Canada, on the first day of its newly regulated iGaming market, taking its total regulated markets to 33.
The board said it remains confident in the outlook for the second half and is on track to meet full-year market expectations.
