{"id":250,"date":"2024-06-26T20:43:13","date_gmt":"2024-06-26T17:43:13","guid":{"rendered":"https:\/\/miamiclubcasinonodepositbonus.icu\/2024\/06\/26\/video-game-sector-returns-to-profitability-in-2021-earnings-up-29\/"},"modified":"2024-06-26T20:43:13","modified_gmt":"2024-06-26T17:43:13","slug":"video-game-sector-returns-to-profitability-in-2021-earnings-up-29","status":"publish","type":"post","link":"https:\/\/miamiclubcasinonodepositbonus.icu\/2024\/06\/26\/video-game-sector-returns-to-profitability-in-2021-earnings-up-29\/","title":{"rendered":"Video game sector returns to profitability in 2021, earnings up 29%"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/PwOz1Hj9ZKc\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>The video game sector rebounded to a profitable state in 2021, with earnings increasing by 29% &#8211; Full Year Outcomes &#8211; iGB<\/p>\n<p>The video game sector, content developers, returned to profitability in the fiscal year 2021, with its licensing business driving earnings growth of 29.0% year-on-year.<\/p>\n<p>Home > Finances > Full Year Outcomes > Video game sector returns to profitability in 2021, earnings up 29%<\/p>\n<p>The video game sector returned to profitability in 2021, with earnings up 29%<br \/>\nEarnings for the 12 months concluding December 31, 2021 were \u00a314.7 million (\u20ac17.5 million\/$18.7 million), up from \u00a311.4 million in the prior fiscal year.<\/p>\n<p>Earnings from licensing operations rose by 48.0% year-on-year to \u00a311.1 million, with content licensing earnings up 35.8% to \u00a39.1 million and brand licensing earnings up a substantial 122.2% to \u00a32.0 million.<\/p>\n<p>The video game sector stated that growth in its content licensing business remains a key focus for the group, adding that its performance in fiscal 2021 reflects its successful implementation of a strategy to expand its games portfolio and increase sales reach across more operators in Europe and the US.<\/p>\n<p>During 2021, the video game sector began operating with partners in five new regulated markets, including Italy, Romania, the Netherlands, and Michigan and Pennsylvania in the US. Shortly after the year&#8217;s end, the developer also secured a license in Ontario, Canada, and began trading in April 2022, while it launched in Spain in January 2022. <\/p>\n<p>In addition to collaborating with these market associates, Gaming Realms teamed up with an extra 18 partners in existing European and New Jersey territories in 2021 and brought on board another 10 partners in these regions from 2022 to the present.<\/p>\n<p>However, despite the expansion of the licensing business, social publishing income dropped by 7.7% to \u00a33.6 million for the entire year.<\/p>\n<p>The developer explained that this was primarily due to currency fluctuations experienced in 2021, with most transactions in this sector being denominated in US dollars. At constant exchange rates, revenue only decreased by 1.0%.<\/p>\n<p>Other key events in 2021 included Gaming Realms beginning to trade its ordinary shares on the OTCQX Best Market in the United States. Trading started in April of last year after the developer upgraded from the Pink Market, and its shares now trade on the OTCQX under the ticker &#8220;PSDMF.&#8221;<\/p>\n<p>Turning to expenses, while operating costs remained at \u00a32.2 million, administrative expenses rose by 6.7% to \u00a36.4 million, and marketing expenses also increased by 6.7% to \u00a3379,230. Share options and associated expenses surged by 87.8% to \u00a3699,194, but the developer did not note any impairment charges for the year, compared to \u00a3499,422 in 2020.<\/p>\n<p>Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by 150.0% to \u00a35 million, but Gaming Realms did not report any other expenses for the year.<\/p>\n<p>Amortization of intangible assets was \u00a33. <\/p>\n<p>Gaming Realms revealed a pre-tax gain of \u00a3957,716 in 2021, a remarkable shift from the \u00a31.6 million deficit in 2020. This was despite \u00a3689,935 in financial expenses, primarily due to \u00a3216,834 in depreciation of fixed assets and \u00a373,677 in impairment of goodwill, balanced only slightly by \u00a326,496 in financial income.<\/p>\n<p>The developer also profited from a \u00a3296,436 tax credit and a \u00a339,153 foreign exchange gain from translating foreign operations, resulting in a net gain of \u00a31.3 million, compared to a net loss of \u00a31.8 million in the prior fiscal year.<\/p>\n<p>&#8220;2021 was another extraordinary year for the Group, as we expanded our Slingo portfolio and entered new regulated online gambling markets, with revenue increasing by 29% and delivering the first full-year profit of \u00a31.3 million,&#8221; said Michael Buckley, Executive Chairman of Gaming Realms. &#8220;Our core licensing business continued to flourish, with 35 new licensing and distribution partners secured throughout the year, supporting a 48% increase in the number of unique players enjoying our content worldwide.<\/p>\n<p>&#8220;The Group has been dedicated to expanding its global reach during this period, which has laid a solid foundation for further growth in 2022, where we will continue to concentrate on expanding our footprint in these territories.<\/p>\n<p>&#8220;Momentum has certainly continued into this year so far, with four new games already released and launches in Spain and Canada.&#8221; <\/p>\n<p>As our product offerings expand and we collaborate with fresh partnerships, we&#8217;ll keep you informed about our advancements. <\/p>\n<p>Keep an eye out for the most recent iGaming updates! <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The video game sector rebounded to a profitable state in 2021, with earnings increasing by 29% &#8211; Full Year Outcomes &#8211; iGB The video game sector, content developers, returned to profitability in the fiscal year 2021, with its licensing business driving earnings growth of 29.0% year-on-year. Home > Finances > Full Year Outcomes > Video [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Video Game Sector Booms: 29% Earnings Growth in 2021<\/title>\n<meta name=\"description\" content=\"The video game industry bounced back in 2021, with earnings soaring by 29%. 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