Matt Davey

‘World Class Supplier’ strategic M&A rockets NYX revenue & earnings

Matt Davey
Matt Davey

The acquisition of industry sports betting platform and technology provider OpenBet has boosted Toronto-listed NYX Gaming Group (NYX) Q3 2016 corporate revenues to CAD $54.4 million representing a 309% increase on its corresponding 2015 performance.

Closing its Q3 2016 performance (period ending 30 September), NYX governance stated that the company had reached its corporate goal of creating a ‘world class digital gaming supplier’ through strategic M&A activity.

The TSX-listed company would record a period gross profit of CAD $49 million (Q3 2015: CAD $13 million), contributing to an adjusted EBITDA of CAD $14.5 million.

Detailing performance drivers, NYX Governance noted the firms strengthened commercial pipeline which had gained 7 new partner agreements during the period, gaining NYX clients including Topsport, Comeon!, Goalbet,  Televisa, and OlyBet.

NYX governance detailed that the company held commitments with a further 23 customers who would be launching NYX services and provisions in the coming months, including Sky Betting and Gaming new Italian business division.

NYX CEO Matt Davey commented on Q3 2016 performance: “NYX continues to deliver strong organic growth across all product verticals. Through our M&A activity, we have built the foundations of a world-class digital gaming software supplier that focuses on regulated markets.

“The team has made significant progress against a number of key objectives that position us at the forefront of the industry opportunity. We are entering phase two of our journey now to unlock the true value of our operations and we continue to see market-leading demand for our products and services.”

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