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Continued realignment strategy sees Nektan hit high notes for Q3 2017

Continued realignment strategy sees Nektan hit high notes for Q3 2017

London AIM-listed industry mobile B2B gaming solutions provider Nektan Plc has published its Q3 2017 trading update (period ending 31 March) reporting top-line growth across its core performance metrics.

Updating investors, Nektan governance detailed the firm’s strengthened commercial pipeline which had seen the company sign and launch 13 new casino partners.

Publishing its Q3 performance, Nektan would report total group transactions (bets or spins) of £132 million up 235% on corresponding Q3 2016’s £56 million.

Q3 2017 cash wagering reached £99 million (Q3 2017: £56 million) as Nektan reported + 38,000 new players across its platforms. Closing the period, Nektan governance would report a group net gaming revenue of £3.7 million, up 66% on Q3 2016’s £2.2 million.

Nektan governance would detail that its improved performance was a testament to the firm’s  continued ‘realigned strategy to leverage assets’ as the company expands its B2B network across the USA and Europe.

Leigh Nissim, Chief Executive Officer of Nektan, commented on performance:

“I’m encouraged by Nektan’s continuing improvements in trading and the continuing realignment of the Company to a leading international gaming solutions and services provider.

The launch of our new B2B games and software licensing business in Q3 is exciting and will be an important focus for Nektan to support our growth.  The good progress of our North American business in signing new customers also positions the business well for future success.

Nektan continues to make positive progress across our businesses in Europe and the US, powered by our proprietary core platform, Evolve, helping the Company to strengthen its position as an international gaming provider, offering solutions and services that are fresh, high quality and tangibly different from other suppliers.”