Nektan reaches record revenues

Nektan releases Q1 Trading Update

Nektan, an international gaming technology platform and services provider announced another record quarter for the first three months of the financial year ending 30 June 2019 (Q1 FY19).

Nektan delivers premium and compliant gaming content to gaming sites worldwide, via its proprietary technology platforms Evolve (B2C) and E-Lite (B2B). This latest quarter has delivered stronger than expected growth leading to record quarterly revenues.

Nektan quarterly updates.

KPIs update:

In Q1 FY19 Nektan delivered record NGR and cash wagering figures. The firm’s strong growth in NGR has continued, growing 12.6% in Q1 FY19.

The dip in FTDs during Q1 FY19 is due to an increasing focus on maximising player life time values which will improve profitability going forward for Nektan and its partners.

Gaming Distribution Update

Nektan launched multiple new sites and is now delivering gaming content to a record number of 143 global casino brands in Q1 FY19.

Gaming Content Update

Nektan increased their platform by 40%, from 500 games to 700 games.

B2B

As previously reported, via the E-Lite platform, Nektan’s B2B business is seen as an area of significant growth potential with Q1 FY19 delivering 27%. Nektan now has a total of 14 deals live globally compared with 12 in Q4 FY18.

North America

In Q1 FY19, Nektan has completed back-end integration, regulatory approval and white label customisation with a major tier-one operator for launch in-venue in Q2 FY19.

Metric Gaming’s full-service Race and Sports betting platform has now been integrated into the Evolve platform, giving Nektan a wider product offering in the US.

With the recent Supreme Court Professional and Amateur Sports Protection Act (“PASPA”) ruling, the Board is seeing significant interest in the US market.

Gary Shaw, Interim Chief Executive Officer of Nektan commented, “Q1 FY19 has been very strong and we have seen accelerating growth momentum across all business lines.  We are on course to be EBITDA positive in Europe by the end of this financial year.

Shaw added, “Nektan is live in more jurisdictions and languages than ever before and, in particular, our Asia business, is scaling substantially as our technology is applied by more partners.”

Shaw concluded, “Our North America division is making progress and is due to go live shortly with a tier-one operator.  We are positioned to take advantage of the opening up of the sector in the United States with a pipeline of upcoming opportunities.”

Headquartered in Gibraltar, Nektan holds licences in Gibraltar, the UK and Ireland. The provider maintains sales and customer support operations in its two primary geographical targets, Europe and North America.

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