Shares in Gaming Realms climbed 7 per cent in London Wednesday morning after the gaming supplier revealed that its Alchemybet subsidiary had been granted a licence in Ontario, Canada.
The company said that its approval to enter the Canadian iGaming market marks a significant milestone and presents long-term growth opportunities for its Slingo Originals game content, with the province’s regulated market launching on 4 April.
With a population of 15m in Ontario, Gaming Realms expects revenue in the province to be higher than New Jersey, Michigan or Pennsylvania, North American markets where the company is already supplying its Slingo Originals content.
“Ontario should be a bigger market for Gaming Realms than any of the US states that have regulated so far, so we are very excited to have been awarded our supplier license in this territory,” said Gaming Realms executive chairman Michael Buckley.
“Our approval marks an important step in the group’s growth trajectory as we focus on expanding and strengthening our global presence and bringing our hugely popular and innovative Slingo content to new audiences.”
Shares in Gaming Realms plc (LSE:GMR) gained 7.00 per cent on the news to 26.00 pence per share in London Wednesday morning, 27 per cent above their 52-week low of 20.39 pence per share set on Monday (7 March).