Gaming Realms plc AIM:GMR
- Incorporated
- United Kingdom
- Chief executive
- Mark Segal
- Employees
- 112
- Reports in
- GBP
- Companies House
- 04175777
Read straight from the annual reports
31.5p at close on 5 Oct 2026 · 11 reported years, 2015–2025
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GBP millions, negatives in brackets. Per-share lines in pence, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
11 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
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Content licensing growth from new partners and regulated-market launches
Content licensing revenue rose 3% on a reported basis to £24.5m (2024: £23.8m); 40 new partners went live in 2025 and a further 10 in Q1 2026. Launches included Brazil, South Africa, Switzerland, Greece and Delaware (sixth US regulated state).
page 13Brand licensing renewal deals
Brand licensing revenue rose 349% to £3.0m (2024: £0.7m) due to two notable brand renewal deals completed in the year. The Financial Review describes this as the completion of a significant brand deal.
page 13Operating leverage on licensing revenue growth
Adjusted EBITDA margin rose to 48% (2024: 46%) as Adjusted EBITDA grew 15% to £15.0m against revenue growth of 10%. Operating expenses rose 7% and administrative expenses 8%.
page 13Cost of platform and third-party fees
Operating expenses (licence fees, hosting, platform provider fees) rose 7% to £6.3m. Administrative expenses rose 8% to £10.0m on staff investment. Share option and related charges rose to £1.5m (2024: £0.8m) and sit outside Adjusted EBITDA.
page 13Strategic priorities for 2026 and beyond: further international expansion with planned entries in Peru, Maine (USA) and Alberta (Canada); continued growth in existing regulated markets; new game formats leveraging Slingo IP; investment in technology and platform scalability; expansion of third-party content distribution.
page 9Completed the remaining £3.2m of the £6.0m buyback programme in Q1 2026. On 3 March 2026 announced a further buyback of up to £5.0m; purchases began in March 2026.
page 77No interim or final dividend was paid for 2025 (2024: none), and the Board is not proposing a final dividend. Surplus capital is returned via buybacks (£6.0m programme announced March 2025; £2.8m completed in 2025; the remaining £3.2m completed in Q1 2026; a new programme of up to £5.0m announced 3 March 2026).
page 17Going concern basis adopted. Cash flow forecasts run to December 2028 with stress testing to June 2027; the Directors conclude resources are adequate for at least 12 months. BDO LLP audit opinion is unmodified. Auditor found no material uncertainty on going concern. KAMs are capitalisation of development costs (£1.5m capitalised for RGS platform in 2025). Revenue recognition was a KAM in 2024 but was dropped in 2025 as brand licensing accounting is now established. Materiality is £437k (5% of PBT).
page 34- Regulatory and licensing: changes in state and national iGaming regimes, licence conditions and responsible-gambling rules; loss or suspension of a licence would cut distribution and revenue.p.20
- Taxation: UK Remote Gaming Duty rising to 40% from 1 April 2026; corporation tax and indirect tax (e-commerce) exposure; residency and transfer-pricing risk across UK, Malta, Canada and US entities.p.20
- Competition in online and free-to-play markets; reliance on unique IP and Slingo brand; loss of competitive advantage if distribution or demand falls.p.21
- Time to market: product delays or certification problems could cut revenue and raise development costs.p.21
Read from C000517-AR-2025-ch.
10 annual reports read, FY2016 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (10)
FY2026Next report expected 5 Apr 2027