Interactive
US – Key acquisitions see NYX grow by 230 per cent
By Phil - 31 August 2016
NYX Gaming Group has reported 230 per cent growth year-over-year, for three months ended June 30, 2015, with revenue hitting $35.2m and gross profit of $30.8m.
In May, Las vegas-based NYX sealed two huge deals, buying OpenBet for £270m and BetDigital for £24.5m.
Organic revenue excluding acquisitions came in at $13.7m or 28 per cent growth year-over-year, for three months ended June 30. Royalty and License revenue was the main driver of growth as we benefited from a full quarter of contribution from the prior year’s acquisitions and approximately six weeks of OpenBet.
CEO Matt Davey said:“We are pleased with the progress that we have delivered in Q2. With the closing of the OpenBet acquisition, we move our focus from acquisitions to integration of our business operations and delivery of operational leverage. We look forward to continuing to strengthen our business model and create reoccurring, sustainable revenue over the long-term across all products for the benefit of our customers and shareholders.”
In the second quarter of 2016, NYX continued to see a strong demand in both our Open Gaming System and its Open Platform System, signing 11 new agreements with Sisal, Pala Interactive, Rush Street Gaming, Starcasino, Solverde, and Luckia. OGS was also successfully launched across 21 new client sites: Mybet, Rush Street Gaming, Sisal, and SNAI. In addition, NYX content studios released 26 new games during the three months ended June 30, 2016.
The increase in gross profit was a result of the increase in revenue from the underlying core casino business and the impact from acquisitions.
One of the highlights came right at the end of the month when the company signed a deal with Caesars Interactive Entertainment to re-launch the CaesarsCasino.com brand on NYX’s market leading Open Platform System (OPS) in New Jersey.
“This is an immense opportunity for NYX and we are thrilled that CIE has chosen to further our partnership”, said Kevin Vonasek, NYX’s Chief Product Officer Americas. “CIE is absolutely a key partner for NYX as we continue to execute our US strategy in anticipation of future casino iGaming expansion beyond New Jersey, Delaware and Nevada. This agreement is a testament to both the quality and flexibility of our platform and the exceptional working relationship we’ve enjoyed with CIE to date.”
