Gaming Realms PLC maintains track record of hitting targets
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Gaming Realms PLC (AIM:GMR, OTCQX:PSDMF) remains a ‘buy’ for Peel Hunt after the release of full-year results that confirmed most of what was in January’s trading update.
The broker said it would not be changing its forecasts following the release of the results but reiterated its view that the online bingo specialist’s medium-term growth potential is undervalued.
Peel Hunt highlighted the 43% year on year increase in licensing revenue in the first quarter and that trading is ahead of expectations.
“This is not a function of a soft comp[arative],” Peel Hunt said.
“Four new Slingo games were also launched and new marketing features are on the way. These new markets and games will all contribute to a continuation of strong growth throughout FY22. Gaming Realms is a global B2B content provider with net cash. Today’s results represent the further extension of a track record of hitting targets,” it concluded.
