Tangelo Games Pleased With Mobile Growth

By Brian Cullingworth, Last updated Sep 2, 2016

In Q2/2016 report

Toronto social gaming firm Tangelo Games Corp. (formerly Imperus Technologies) has reported a 13 percent growth in revenue from mobile games over the previous quarter, a key focus area for the company, within its H1 and Q2/2016 report for the period ending June 30 2016.
Key performance highlights include:
– Tangelo generated revenue of CAD 20.91 million (H1/2015: CAD9.81 million).
– Adjusted EBITDA of CAD 5.76 million (H1/2015: $0.77).
– Total net loss of CAD 2.45 million (H1/2015: CAD 10.27 million).
Readers will recall Tangelo's acquisition of Diwip earlier this year, followed by its integration into one consolidated operating unit.
The company subsequently "right-sized" the organisation to realise operating efficiencies, reducing its workforce by 25 percent.
"Our rapid mobile growth in Q2 demonstrates that Tangelo is on the right track," commented James Lanthier, chief executive officer of Tangelo. "While desktop still makes up the majority of our revenue, our business is geared towards the future and growing faster than the industry rate."

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Brian Cullingworth

Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.

We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.

His passing in February 2019 was a dark day for us. He will be forever missed.

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