Gaming Realms announces conditional raise of £1,545,000

Gaming Realms, a creator and publisher of mobile real money and social games, has announced that it has conditionally raised approximately £1,545,000 before expenses, through a subscription of 7,725,000 new ordinary shares of 10 pence each at a price of 20 pence per share.

Proceeds of the subscription will be used to support the launch of the new social casino ‘Lucky Streak’ and to fund the continued growth of the real money Grizzly platform in the UK.

In Q1 2016, KPI’s show the progress made by the Grizzly platform, as the average daily newly acquired funded players increased by 26% to 320. The average daily funded players increased by 9% to 2,588 and the average daily revenue went up 9% to approximately £45,000.

The Subscription will represent 3.01% of the Gaming Realms’ enlarged share capital. Following completion of the Subscription, total shares in issue will be 256,933,242 ordinary shares of 10 pence each.