Gaming Realms Achieves Growth in the UK Despite the Rise of the Remote Gaming Duty

Gaming Realms closed the first half of 2026 with a global revenue decline of 3%, dropping from £16 million to £15.5 million year-on-year. The main reason was a 71% decrease in brand licensing, which fell from £2.4 million to £700,000. The company attributed this significant reduction to the early recognition of a multi-year license renewal, which was recorded in full in the previous fiscal year. Excluding the negative impact of brand licensing, the group’s total revenues increased by 9%.

The Engine of Growth: Content Licensing and International Expansion

Content licensing drove results, with a growth of 12%, from £11.7 million to £13 million. During the period, Gaming Realms signed agreements with 22 new partners and launched 11 games to the market. Additionally, the company made its entry into new emerging markets by starting operations in Nigeria, Ghana, Kenya, and Peru.

In North America, growth remained strong. Revenues from content licensing increased by 16% year-on-year, with operational presence in six states of the United States and three Canadian provinces. After the end of the semester, Gaming Realms added new regulated markets with launches in Alberta (Canada) and Buenos Aires Province (Argentina), reaching a total of 34 jurisdictions.

UK: Resilience Against Rising Taxes and Regulation

In the UK market, revenues grew by 3% compared to the first half of 2025. This advance was achieved despite the implementation on April 1 of a 40% Remote Gaming Duty (RGD), nearly double the previous rate. According to Gaming Realms, the Gross Gaming Revenue (GGR) in the UK already exceeds pre-limit levels of £5 per bet on slots imposed in April 2025. The company’s management indicated that the performance "reflects both the resilience of the Slingo brand and the effectiveness of the group’s recent product innovations."

Margin and Profitability Under Pressure from Fiscal Change

The tax adjustment and reduction in brand licenses influenced profitability: adjusted EBITDA fell 12% year-on-year to £6.6 million. Excluding brand licensing, EBITDA grew 16%, amounting to £5.9 million. Profit before tax dropped 21% to £3.4 million, although excluding the effects of brand licensing, the figure improved by 47% to £2.7 million.

Gaming Realms’ stock price decreased by 2% during the earnings report period. The future outlook, however, remains positive, as the company expects investment in new markets to reflect in more game launches during the second half.

Leadership Statements and Outlook for the Second Half of 2026

Mark Segal, CEO of Gaming Realms, stated:

“Our business in the UK has demonstrated true resilience, achieving revenue growth despite the significant increase in the Remote Gaming Duty.”

Management anticipates an increased volume of launches due to expansion into new markets and maintains confidence in performance for the remainder of the year.

Impact for Operators and Suppliers

Gaming Realms’ advance in content licensing and its adaptability to the British fiscal environment provide relevant signals for other suppliers and operators reliant on casino revenue. The diversification strategy across geographies and products emerges as a mitigant against regulatory shocks such as the increase in the RGD.

Considerations for the B2B Ecosystem

From a B2B perspective, both global expansion and consolidation in mature markets pose integration and compliance challenges for partners and platforms. The case of Gaming Realms illustrates that innovation in catalog and rapid response to fiscal changes can partially alleviate adverse effects in the short term.