Gaming Realms appoints Suki Sandhu as Chief Product Officer
Gaming Realms, a provider of mobile-focused gaming content, has named Suki Sandhu (in photo above), as its Chief Product Officer (CPO), showcasing the company’s unwavering commitment to enhancing its game offerings.
Elevating portfolio
In his role as CPO, Sandhu will tap into his decades of industry experience, previously holding senior positions with industry giants such as PartyGaming (now part of Entain), IGT, Gamesys, and WynnBet. Most recently, he served as the Product Director of iGaming at Inspired Entertainment. Mr. Sandhu’s appointment signifies a strategic move to not only strengthen but also expand Gaming Realms’ Slingo content portfolio and introduce innovative concepts and elements, solidifying the company’s position as a leading supplier to the online gambling industry.
Mark Segal, Chief Executive Officer at Gaming Realms, expressed his enthusiasm, stating, “We are thrilled to welcome Suki to the Gaming Realms team. With his expertise and skills, we will be able to level up our existing product offering and provide players around the world with even more engaging and entertaining gaming experiences as we look to build on our recent success.”
Exciting period of growth
Sandhu’s arrival at Gaming Realms coincides with an exciting period of growth for the company. The provider recently announced a remarkable 36 percent year-on-year revenue surge, reaching £11.5 million for the first half of 2023.
This impressive growth signifies Gaming Realms’ strengthened market position and its ability to capture the evolving dynamics of the online gambling industry. It reflects the company’s dedication to providing cutting-edge gaming experiences and staying ahead in the highly competitive B2B gambling sector.
Suki Sandhu commented on his new role, stating, “I am delighted to join Gaming Realms, and I am really looking forward to working with the management, our internal and external studios, and product teams to build creative games and mechanics to grow the Slingo brand and explore complimentary innovative concepts which can help further boost the Gaming Realms business. I have a passion for product and the iGaming industry, and Gaming Realms shares a similar desire to make a positive impact in the market. Slingo has become a genre of its own, and we’re keen to build on this and offer a wider variety of content. We have many ideas and a hungry team, and we will now create a shared product vision to ensure we deliver a positive gaming experience for our players, partners, and operators.”
With Suki Sandhu at the helm as Chief Product Officer, Gaming Realms is poised to lead the way in the ever-evolving landscape of mobile gaming content, driving innovation and growth in the online gambling industry. This strategic appointment, along with the company’s record-breaking revenue growth, marks an exciting chapter in Gaming Realms’ journey, one that promises to deliver enhanced gaming experiences to players worldwide.
Gaming Realms: year-on-year compariso of results. (Source: SiGMA)
Remarkable growth reflected in H1 financial results
Gaming Realms announced its remarkable H1 2023 financial performance, achieving record-breaking revenue and adjusted EBITDA figures. Content licensing, marking 12 consecutive periods of growth, was the primary revenue driver, contributing £8.8 million, reflecting a 37 percentannual increase. Brand licensing also showcased substantial growth, with revenue amounting to £1 million, a remarkable 222 percentincrease. Despite a slight decline in social revenue to £1.8 million, the company’s adjusted EBITDA soared by 37 percent to reach £4.8 million, indicating its strong financial performance.
Operational highlights include expanding the company’s global footprint by partnering with 25 new entities worldwide, securing a supplier license in Sweden, and launching brand licensing agreements for iconic titles like Tetris and Space Invaders. In the US market, content licensing revenue surged by 37 percent with North America now constituting 45 percent of the total content licensing revenue (£3.96 million). CEO Mark Segal expressed optimism about the company’s future growth prospects, and Peel Hunt reiterated its Buy rating for Gaming Realms stock, setting a target price of 60p, citing favorable conditions for sustained growth.
