Mighty Kingdom Limited operational review completion

Mighty Kingdom Limited (ASX: $MKL) has completed its initial operational review and organisational restructure, resulting in a 28% reduction in its workforce to achieve annualised cost savings of approximately $2.1m. The review aimed to optimize gaming operations for profitability and streamline the organizational structure to align with current priorities, in line with the Company's objective of achieving gaming profitability by H1 FY25.

Executive Commentary on Operational Review and Restructure

These decisions are exceptionally difficult but one we have been forced to make to ensure the future sustainability of the Company. We understand the impact these decisions have on the individuals impacted and we will be looking to support them as best as possible. We need to be diligent in making the necessary decisions to deploy our existing capital effectively to grow the Company. I want to take the opportunity to thank all staff who have worked through a very difficult period, and I look forward to a more sustainable future.

Summary of Mighty Kingdom Limited's Operational Review and Restructure

Mighty Kingdom Limited (ASX: $MKL) has completed its initial operational review and organisational restructure, aiming to achieve gaming profitability by H1 FY25. The restructure includes a 28% reduction in the workforce, resulting in annualised cost savings of approximately $2.1m. The Company emphasized the necessity of these difficult decisions to ensure future sustainability and expressed commitment to supporting the impacted individuals. The revised structure aims to enable the Company to execute existing projects with key partners and provide flexibility for future growth opportunities. Mighty Kingdom's ambition to protect existing roles and reach profitability reflects its dedication to a more sustainable future.