NEKTAN’S EUROPEAN ARM CONTINUES TO GROW WITH NEW BUSINESS OPPORTUNITIES IN US AND ASIA
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Nektan plc (AIM: NKTN), an international B2B and white label gaming software and services provider, announces its unaudited results for the six months ended 31 December 2017.
|Unaudited six months ended 31 December 2017
|Unaudited six months ended 31 December 2016
|Adjusted EBITDA loss*||(1,647)||(1,498)|
|Adjusted EBITDA loss* – Managed Gaming Solutions||(918)||(1,498)|
|Operating loss **||(3,165)||(512)|
|(Loss)/profit before taxation **||(4,172)||1,188|
|Basic & diluted (loss)/earnings per share (pence)||(12.6)||4.9|
*Adjusted EBITDA loss exclude depreciation, amortisation, income or expenditure relating to exceptional items, profit on brand disposals and non-cash charges relating to share based payments and impairments
**In 2016 operating profit included the profit on brands disposal of £1,950k and profit before taxation includes the profit on brand disposals and the fair value adjustment on increase in equity ownership of £2,322k
- Revenue up 54% versus six months ended 31 December 2016 and 17% versus six months ended 30 June 2017
- Significantly reduced losses in the Managed Gaming Solutions division with an adjusted EBITDA loss of £918k (H1 FY17: £1,498k)
- First global platform deal signed in B2B technology services with Tyche Digital opening up significant new pipeline of opportunities that Tyche is developing
- First revenues in the European B2B division with 5 deals now live
- Nektan takes first mobile cash bet at casino in US
- Raised £1.76m through a placing and subscription of new shares in December 2017
- Continued trading momentum in European business with revenue from diversification from white label and gaming service provision business
- Over 100 casino brands now live from 52 partners, including new European-focused partnerships
- Nektan’s Evolve Lite Platform live in Asia with 247 Asian games and a number of contracts signed through the Tyche Digital integration
- Following its launch in the US in August, its US business is progressing and is currently installing in three land-based casinos
Gary Shaw, Interim Chief Executive Officer of Nektan, said:
“The European business continues to deliver strong trading momentum. We are developing our mobile first casino product, diversifying our portfolio of services to include additional B2B gaming solutions in Europe, US and now Asia.
Our European white label services business now consists of over 100 casino sites. We continue to leverage our partnerships with numerous global game providers including Realistic Games, Pragmatic Play, Booongo Gaming and Pocket Games Soft, to deliver the Nektan Technology platform into further new geographic markets with localised content.
I am particularly pleased that we are maintaining a central cost base to develop these revenue opportunities. We are expecting continued margin improvements, as our business partners develop new markets utilising our core technology platform, and to become a successful global technology supplier.”
For further information on the Group, please contact:
Gary Shaw, Interim Chief Executive Officer
Patrick Sinclair, Chief Financial Officer
|via Newgate below|
|Stockdale Securities Limited
Tom Griffiths / Ed Thomas
|+44 20 7601 6100|
|Newgate (PR Adviser)
+44 20 7680 6550 / + 44 7747 113 930
Further information on Nektan can be found on the Group’s website at www.nektan.com
Nektan is an international B2B and white label gaming software and services provider, operating in the regulated, interactive real money gaming (RMG) space, delivering original and innovative solutions to commercial organisations that have established online audiences.
Nektan’s full end-to-end technology platform, Evolve, simplifies and supports the route to mobile and desktop gaming revenues, managing the full customer experience and back-office operations, allowing commercial partners to focus on marketing the product to their consumers.
Nektan’s US operating subsidiary, Respin, provides US land-based casinos with in-venue mobile gaming solutions which allow operators to add mobile technology and content to their existing offerings, with products accessible to players across both cabinets and mobile devices inside the casinos. Respin has a strong intellectual property portfolio including game patents for Rapid Games (on-property mobile entertainment), and other captivating concepts and brands.
Nektan is headquartered in Gibraltar, regulated by the Gibraltar Licensing Authority and the UK Gambling Commission, as well as in the Irish market and maintains sales and customer support operations in its two primary geographical targets, Europe and North America. The proprietary Evolve technology is developed and maintained by a talented and experienced team of employees from Nektan’s Indian office.
Nektan plc was admitted to the AIM market of the London Stock Exchange in November 2014.
Source: European Gaming Industry News