Nektan reveals ongoing growth in Q3

21 April 2017

Nektan has followed up on a financially successful first half of the year by posting further growth during the third quarter.

Net gaming revenue for the three months to March 31, 2017, amounted to £3.7 million (€4.4 million/$4.7 million), an increase of 63% on the total collected in the corresponding period last year and 3% more than in the second quarter of the current year.

The number of first time depositors rocketed by 147% from 15,568 in the third quarter of 2016 to 38,424 in the most recent period, while transactions jumped 235% to 132.3 million.

Cash wagering also increased by 77% year-on-year to £99 million, but this was 7% lower than the £106.7 million recorded in Q2.

Leigh Nissim, chief executive of Nektan, said: “I'm encouraged by Nektan’s continuing improvements in trading and the continuing realignment of the company to a leading international gaming solutions and services provider.

“In our managed solutions business in Europe, we have focused intentionally on optimising the managed casino network, improving the return on our player marketing spend for certain partner brands and proactively controlling our operating costs across the casino network.

“The net impact of both adjustments is positive - the network continues to grow and at the same time our margins are improving.

“The launch of our new B2B games and software licensing business in Q3 is exciting and will be an important focus for Nektan to support our growth.

“The good progress of our North American business in signing new customers also positions the business well for future success.”

Nissim added: “Nektan continues to make positive progress across our businesses in Europe and the US, powered by our proprietary core platform, Evolve, helping the company to strengthen its position as an international gaming provider, offering solutions and services that are fresh, high quality and tangibly different from other suppliers.”

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