NYX reveals sales growth of nearly 200% for Q1
NYX Gaming Group has revealed that it increased its profits by 199.8% for the first quarter of 2017, up to Can$58.9m ($43.8m/€39.1m) from Can$16.8m for the same three-month period of 2016.
The company’s EBITDA stood at Can$16.8m for the first quarter of 2017, an increase of 250.1% year-on-year, from Can$4.7m.
NYX attributed the results to the acquisitions of OpenBet and Betdigital in May 2016, as well as increased gaming revenues from existing customers, and new customer launches.
Matt Davey, chief executive of NYX, said: “With our new operating model in place, we’re pleased to report growth in revenue and adjusted EBITDA from the prior quarter and the prior year period.
“Our customer development pipeline remains strong, and we are focused on profitable growth through our product led strategy with targeted R&D investment in sportsbook, gaming, and content technologies.”
During the Grand National in April, NYX Gaming Group said it handled a record 24 million sports bets via its OpenBet platform.
Related articles: NYX smashes betting records at Grand National
NYX enhances relationship with Sky Bet
NYX Gaming Group to acquire Betdigital
NYX Gaming Group completes acquisition of OpenBet