Matt Davey

Acquisition costs see NYX Gaming record CAD $9 million losses for Q1 2016

Matt Davey
Matt Davey

Updating the market on its Q1 2016 performance (period ending 31 March), Toronto TSX-listed NYX Gaming (NYX) has reported an 89% revenue increase to CAD $18.8 million (Q1 2015: CAD $9.9 million) driven by new client growth.

NYX would record group gross profits of CAD $16.2 million, with an underlining EBITDA of CAD $4.8 million up 102% on corresponding Q1 2015’s CAD $2.3 million.

The gambling technology provider continues to repay its 2015 corporate acquisition debts, would reporting period net loss of CAD $9.1 million (Q1 2015: CAD $5 million).

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During the period NYX would announce that it had signed twelve ‘Open Gaming System’ content partnerships with international operators including Paddy Power, Marathonbet and Telecinco (Spain).

Further period highlights would see NYX confirm a major platform services partnership with Dutch national lottery operator Netherlands Staatsloterij/De Lotto for the provision of online gambling systems.

NYX continues its acquisition growth strategy, which saw the firm complete its joint £270 million acquisition of leading betting technology and platform provider OpenBet in a joint deal with William Hill and Sky Betting & Gaming.

Confirming its OpenBet acquisition, NYX governance stated that company had completed its mission of creating a world-class online gambling services portfolio, which would could serve its clients all industry verticals.

“We are very proud that Q1 not only marks another strong quarter but is also a confirmation of our long-term strategy to be the leading provider of digital gaming content and technology worldwide,” NYX CEO Matt Davey

“Through our highly successful M&A activity, we have set in place the building blocks for our global business, and are now focused on realising our full potential for the benefit of our customers and shareholders.”

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