London AIM-listed platform and gaming content provider Nektan Plc reports a ‘stronger than expected’ opening for its 2019/2020 trading.
Publishing its Q1 2019/20 accounts (period ending 30 September 2018), Nektan reports record net-gaming-revenues (NGR) of £6.4 million up 64% on Q1 2018’s £3.9 million.
Updating the market Gary Shaw, Interim Chief Executive Officer of Nektan, said:
“Q1 FY19 has been very strong and we have seen accelerating growth momentum across all business lines. We are on course to be EBITDA positive in Europe by the end of this financial year. Since becoming a public company in 2014, Nektan has seen only one quarter-on-quarter decline in revenue, which was during this usually quieter period of activity in the same period last year, so we are very encouraged to see such a positive quarter and expect this success to continue.”
The AIM enterprise continues to strengthen its games distribution channel, which during the quarter delivered gaming content to 143 casino brands worldwide.
Furthermore, Nektan governance highlights the ‘growth momentum’ of its B2B ‘Evolve Platform’ which now services 14 deals globally, detailing sustained double-digit growth for its Tyche Digital partnership.
“Given the past few quarters of continual expansion in content provision and our significant build-up of global partnerships, we are now within striking distance of our ambition to be the dominant provider of premium gaming content in the industry. We will continue to build our portfolio of content which, combined with the speed of content delivery into partners’ live gaming sites globally, makes Nektan’s offering a very attractive proposition. We are adding more cutting-edge content and channelling this not only to more partners but bigger partners too. Nektan is live in more jurisdictions and languages than ever before and, in particular, our Asia business is scaling substantially as our technology is applied by more partners.”
Nektan governance continues to strengthen its North American position and prospects, with the firm detailing that it has developed new US-centric components for its Evolve Platform.
In its trading update, Nektan governance reveals that it is studying the potential of direct US investment with a view to strengthen its B2B business unit.
“We are very confident that Nektan is in an excellent position to capitalise on the solid technological foundation we have built. Our B2B division, in particular, is bringing a wealth of international opportunities from tier-one partners. In addition, our North America division is making progress and is due to go live shortly with a tier-one operator. We are positioned to take advantage of the opening up of the sector in the United States with a pipeline of upcoming opportunities.”