AIM-operator Gaming Realms has recently sold its entire portfolio of third-party platform-driven bingo websites for a total of £2.9m after claiming they intend to focus on gaming platform strategy.
‘Grizzly’ Proprietary Platform
Gaming Realms announced the sale of Iceland Bingo IP to Black Spark for £1.2m with an additional £500,000 yesterday, as well as the sale of numerous white label sites including Lucky Charm Bingo and Cupcake Bingo to Silverspin Media for £1.2m. The operator says the decision was made so it could concentrate on its commitment to its ‘Grizzly’ proprietary platform, which has helped them reach a company record of 116% revenue increase throughout 2015.
“Focusing on higher margin investment in our new mobile platform and achieving significant success within our own mobile content development is delivering stronger returns for Gaming Realms,” Patrick Southon, Gaming Realms chief executive, said. “Having end-to-end control of our offering has created a set of exciting opportunities in the UK, and more recently in the US, and these have become our strategic priority.” In 2015, Gaming Realms sold Bingo Godz and Castle Jackpot to European Domain Management (EDM) in a £500,000 year deal to increase investments in its platform.