Interactive
Gibraltar – Nektan enjoys another record quarter
By Phil - 7 January 2019
Nektan, the fast growing international gaming technology platform and services provider, is pleased to announce another record quarter for the second three months of the financial year ending 30 June 2019.
Total gaming revenue increased 28.4 per cent to £8.6m in the second quarter of 2019, up from £6.7m in the first quarter of 2019 and up 83 per cent from the second quarter of 2018.
During the quarter, Nektan’s technology generated over £222.5m in Cash Wagers, up from £182.4m in Q1 FY19, representing an increase of £40.1m or 22 per cent.
The growth was driven by a significant increase in the number of unique players on the B2B platform, helped by four new partners going live, including BetVictor and 1xBet, taking the total number of B2B partners to 10.
The company also launched new white label casino partners, notably the Shipley Brothers, taking the number of managed global casino brands to a record of 145 across Europe.
Lucy Buckley, Chief Executive Officer of Nektan, said: “This record-breaking quarter for the Group has not only highlighted that we have made significant enhancements to our technology, but we are becoming a firmly established business that is on track to be profitable in our core European business by the end of this financial year ending 30 June 2019. Looking back at this quarter and ahead, we are very excited about the size of partners we are now attracting. Our BetVictor contract win with this tier-one operator is a landmark for Nektan and we are proud to have them believe in the breadth and depth of our offering. The B2B figures continue to demonstrate the huge potential that that division has in fuelling our growth going forward.”
“Another significant highlight from the end of the last quarter was the announcement of potential external investment in our US business. Once completed, we believe these developments will put Nektan in its strongest and most secure position to date.”
In the US, Nektan’s subsidiary, Respin, continues to make commercial headway in US Class II and Class III markets for mobile ‘On Premise’ gaming. It signed an agreement to launch Respin’s on premise digital gaming platform and games with another California based tribal casino, expecting to go live with real money gaming offered on mobile and smart table devices in February 2019.
Respin secured agreements with Leap Virtual Sports and with Grand Vision Gaming (owned by Century Gaming Technologies), the leading supplier of Keno content in North America, to offer their content via Respin’s mobile platform for Class II and Class III gaming.
In December 2018 Respin launched a free-to-play version of the Respin platform at a casino based in Oregon. The platform is powering four smart tables and is being marketed to customers as a training tool and way to create interest for an eventual launch of the real money version of the platform.
The launch of a tier-one casino, based in California, is now due to go live in January 2019.
