Slots in the UK were widely anticipated to be about to endure a challenging period off the back of UK tax rises last year.
Yet, the latest results from Gaming Realms indicate growth for the supplier and the resilience of slots engagement within the UK market.
It is worth noting that Gaming Realms has diversified its business portfolio in recent years, but it does still hold a significant chunk of its business in the UK market, around 23% to be precise.
Subsequently, the UK performance of the group reached record levels, increasing by 3%, a remarkable result as it came following a backdrop of Remote Gaming Duty spiking from 21% to 40%.
It was strong product and innovation that played a vital role in boosting the success of Gaming Realms – with Slingo being a key element of the supplier’s iGaming output.
This product in itself was also elevated by the addition of a stake change feature, underpinning that a small innovation can help enhance an already successful title.
There was also a myriad of new titles launched in the Slingo range that enabled the vertical to be a key driver for success not just in the UK market but in other countries too.
Furthermore, whilst engaging with a wide portfolio of partners in the UK market, Gaming Realms is partnered with both bet365 and Sky Betting and Vegas, which is interesting given the consolidation we have seen in the UK off the back of the taxation changes.
For the top-tier operators in the UK, the tax hikes have inevitably provided challenges, but they have also led to an avenue for increased market share as the framework tightens and squeezes the margins for smaller and mid-tier operators.
For Gaming Realms, the other two markets that fuelled success were the Italian market and North America. Italian growth was reported at 29% for the supplier, in a market where the GGR tax rate remains at around 25%, a place the UK market used to be at.