UK-based gaming developer Gaming Realms posted revenue of £11 million ($14.41 million) for the first half of 2018, 27% lower than the same period last year, according to a release.

The developer of the ‘Slingo’ line of games announced an improved adjusted earnings before interest, tax, depreciation and amortization (EBITDA) for the period, of £400,000 ($524,000), which was £1.5 million ($2 million) higher than last year’s first-half loss.

The company noted that licensing revenue increased 175% to £600,000 ($786,000), while social publishing revenue decreased 48% to £2.1 million ($2.8 million), with an 88% reduction in marketing spend, to £200,000 ($262,000).

CEO Patrick Southon said, “We believe that licensing our platform and content to leading brands and gaming operators will deliver high margin revenues, and we have been very pleased with the results of our efforts over the first half of 2018.”