H1 2026 Pre-Close Trading Update

Gaming Realms plc (AIM: GMR), the developer and licensor of mobile-focused gaming content, is pleased to announce its pre-close trading update for the six months ended 30 June 2026 ("H126" or the "Period").

Highlights:

• Group revenue expected to be approx. £15.5 million and Adjusted EBITDA £6.6 million
• Core business revenue and Adjusted EBITDA up 9% and 16% respectively
• UK revenues up 3% despite Remote Gaming Duty ("RGD") increasing from 21% to 40% from 1 April 2026
• UK gross gaming revenue now above levels prior to RGD increase
• Further international expansion in Canada, South America, Africa and Europe
• 11 new games released
• Net cash at the end of the Period of £13.5 million after £6.0 million returned to shareholders via share buyback programme
• The Board is confident in the outlook for the second half of 2026 and remains on track to meet full year market expectations

After another strong period, the Board expects to report Group revenue of approximately £15.5 million (H125: £16.0 million) and Adjusted EBITDA of approximately £6.6 million (H125: £7.5 million).

The year-on-year movement in Group revenue and Adjusted EBITDA reflects a reduction in H1 26 non-core brand licensing revenue to £0.7 million (H125: £2.4 million). Excluding brand licensing, which had a significant multi-year brand licensing renewal in the prior period, Group revenue increased by approximately £1.2 million, or c.9%, and Adjusted EBITDA increased by approximately £0.8 million, or c.16%, year-on-year, reflecting continued growth and operating leverage in the Group's core content licensing business.

In the UK, the increase in RGD to 40% from 1 April 2026 has been an additional headwind for the sector. Notwithstanding this, UK revenues increased by 3% versus the comparative period, and gross gaming revenue is now above levels seen prior to the staking limit changes introduced in 2025, demonstrating the resilience of the Group's UK business and the success of recent Slingo product innovations.

During the Period, the Group continued to expand its international footprint, launching content in four new markets; Nigeria, Ghana, Kenya and Peru, as well as expanding further into Spain with William Hill. The Group also released 11 new games during the Period, including three from its newly established Lucky Lunar studio, further broadening and diversifying its content portfolio.

Net cash at the end of the Period was £13.5 million, after £6.0 million was returned to shareholders through the Group's ongoing share buyback programme, reflecting the continued strong cash generation of the business.

Post-period, the Group successfully launched its content in Alberta, Canada, on the first day of the province's newly regulated iGaming market. Alberta represents a significant opportunity for the Group, given its population and the strength of the Group's existing relationships with North American partners. This launch takes the total number of regulated markets in which the Group distributes its content to 33.

The Board is confident in the outlook for the second half of 2026 and remains on track to meet full year market expectations. Our core licensing business continues to deliver strong growth in North America, supported by the addition of Alberta as a newly regulated market. Combined with further market regulation and a robust pipeline of new game launches, we expect this positive momentum to continue.

Mark Segal, Chief Executive Officer of Gaming Realms, commented:

"We are pleased with our continued progress in the first half of 2026. Our core business delivered strong underlying growth, with revenue up around 9% and Adjusted EBITDA up around 16% on a comparable basis, excluding the prior-period recognition of a multi-year brand licensing renewal. It has been particularly encouraging to see UK revenues grow and gross gaming revenue return above pre-staking-limit levels, despite the increase in Remote Gaming Duty from April, demonstrating the strength of our content and the effectiveness of our recent product innovations.

"Our international expansion continues at pace, with new launches across Africa and into Peru taking us to 32 regulated markets by the end of the Period, while the launch of our new Lucky Lunar studio and eleven new game releases underline the strength and depth of our content pipeline. We remain confident in the Group's growth strategy and our ability to continue delivering value for shareholders in the second half of the year and beyond."

*Adjusted EBITDA is stated before share-based payments.