Gibraltar-based leading global business-to-business gaming solutions and services provider Nektan Plc published a business update. The company also provided a trading update for the quarter which ended on June 30th 2017, as well as information about the new interim Chief Operating Officer appointment and the agreement regarding Nektan Marketing Services (NMS).
The Interim Chief Executive Officer of Nektan Gary Shaw commented on the company’s results, saying that the gaming services and solutions supplier continued to expand its three divisions. Mr. Shaw also shared that he was encouraged by the casino network of the company managed in Europe.
The Interim CEO of the operator further confirmed that the company’s revenues have increased by 130% over 2016. What is more, Nektan’s business-to-business division has become a matter of interest for a number of games studios. The division offers gambling services and distribution under the Gibraltar gambling license. On the other hand, Mr. Shaw also explained that the operations of the company in North America were also making a significant step forward.
As revealed by the company in its trading update, the Managed Gaming Solutions division in Europe reported a continuous growth, with the results being boosted by the product innovation, the increased First Time Depositors (FTDs) as well as by the launch of a total of nine new casinos over the quarter ended on June 30th. Its Net Gaming Revenue (NGR) increased by 130% year-on-year, reflecting major organic growth and cost of sales’ improvement. The division also posted a massive increase in its First Time Depositors, as their number was boosted by 165%. Cash wagering, on the other hand, increased by 157%. There was also a three-digit increase in the number of transactions.
The business-to-business division of the company in Europe has managed to further extend a licensing partnership agreement with Spin Games LLC. Nektan revealed its expectations for publishing the first games in its managed casino network via remote gaming server over the first fiscal quarter of 2018. A total of three partnership agreements have been inked by the company over the period.
When it comes to the gaming solutions supplier’s operations in North America, Nektan’s local subsidiary Respin has been reported to be continuously signing additional casinos for its mobile gaming solution service. The latter, called, Rapid Games, is expected to be launched in the division’s first casino over the next three-month period.
Apart from its financial results for the quarter ended on June 30th, Nektan also made an announcement about the appointment of Sagi Lahav as an interim Chief Operating Officer. The appointment took effect from July 3rd, 2017.
In addition, the business-to-business gaming solutions provider revealed that it has bought out all assets of its digital marketing arm to take full control of the latter. Nektan has agreed to spent almost $650,000 in order to fully acquire its Nektan Marketing Services subsidiary from the digital marketing firm ActiveWin Media Limited. The subsidiary was officially launched two years ago to provide player acquisition and retention tools to third-party customers.
- Author
Olivia Cole
