The industry leader in supplying online casino, sports betting, bingo and lottery products and solutions, NYX Gaming Group, officially revealed its fourth-quarter and full-year financial and operating results for the year ended on December 31th, 2016.
The Chief Executive Officer of the company Matt Davey commented on NYX Gaming’s performance over the afore-mentioned period and explained that 2017 had been a year of a lot for transformations for NYX. He highlighted the integration of OpenBet as one of the most important steps made by the company over the last fiscal year and further shared that the company was now positioned as the leader of gaming technology, sportsbook and NextGen content to the regulated gaming market.
In addition, Mr. Davey explained that the new operating model of NYX Gaming Group had delivered in an improved cost structure since the beginning of 2017. The new operating model was expected to result in increased operating leverage of the company, along with its enhanced cost structure.
Q4 2016 Results
As revealed by NYX Gaming Group, the company’s revenue for the fourth fiscal quarter of the previous fiscal year amounted to CA$54.5 million, which represented a 196.6% increase. With the impact of the OpenBet acquisition excluded, the fourth-quarter revenue increase amounted to 31.2% year-over-year.
NYX Gaming Group also registered a 64.3% growth in its royalty and license revenue, estimated to CA$26.0 million. The gross profit of the company over the fourth fiscal quarter amounted to CA$48.1 million, which represented a total of 88.3% of revenue. The adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) increased by 185.1% in comparison to the one generated over the prior year period.
The leading provider of casino, sportsbook, lottery and bingo solutions also highlighted the fact that it signed a total of 16 new agreements related to the Open Platform System and the Open Gaming System. In addition, it launched OGS content across 14 new client websites.
As far as partnership deals over the first quarter of the fiscal ear are concerned, the company managed to ink 11 new ones, and added six new clients over the first three months of 2017, ended on March 31st, 2017. It also received the right for unconditional registration in order to bring into effective action some gaming content in the heavily-regulated market of British Columbia.
Full-Year 2016 Results
The company revealed that it reached 213.0% growth in its 2017 full-year revenue which amounted to $163.7 million. The NYX Gaming Group’s revenue for the full 2017 rose by 46.8% year-over-year when the impact of the OpenBet and Chartwell and Cryptologyc acquisitions is excluded.
The royalty and license revenue of the company grew by 105.4% on year-over-year basis, reaching CA$90.7 million. On the other hand, the gross profit generated by NYX Gaming Group amounted to CA$144.2 million, which represented a total of 88.1% of the company’s revenue. There was a massive 305.3% growth registered in the adjusted EBITDA of the company, which reached CA$42.7 million.
Of course, NYX Gaming Group emphasized on a number of deals and events which brought it to another milestone over 2016. The company especially highlighted the acquisition of OpenBet, considered as the leading regulated digital gaming supplier worldwide. Another important acquisition carried out by NYX over the twelve-month period which ended on December 31st, 2016 was the one of Betdigital, one of the top content and technology developers in the UK gaming market.
- Author
Olivia Cole
