NYX Gaming 2015 results impacted by acquisition and restructuring expenses

Matt Davey
Matt Davey

Presenting its full-year 2015 results (period ending 31 December), Toronto TSX-listed gambling technology provider NYX Gaming Group posted a mixed set of top line performance metrics.

Closing 2015, NYX would record a revenue uplift of CAD $ 52 million 91% up on FY 2014’s CAD $ 28 million. NYX’s revenue uplift would transfer to Group Profits of CAD $45 million up 86% on FY 2014’s CAD $24 million.

However, acquisition and corporate restructuring charges would impact NYX EBITDA of CAD – $700,000. NYX would close fiscal 2015, recording corporate Net Losses of CAD $8.4 million.

NYX governance detailed that during 2015, the company had been impacted by multiple $ million charges on acquisition fees and financial expenses relating to the integration of acquired assets.

The company further detailed that corporate performance had been negatively impacted by the poor performance of online poker assets Ongame which recorded FY losses of CAD $11 million.

NYX Gaming would detail its Financial Position as of December 31, 2015

  • Cash of $9.7 million (CAD)
  • Total assets of $291.8 million (CAD)
  • Total liabilities of $157.1 million (CAD)
  • Total borrowings of $69.4 million (CAD)
  • Total stockholders’ equity of $134.7 million (CAD)

CEO Matt Davey commented on FY 2015 performance

“I am pleased to announce that 2015 was another outstanding and remarkable year for NYX.  We  achieved growth in both revenue and gross profit.  Our ongoing performance is a reflection of our ability to deliver content and technology services that meet the demands of the digital gaming industry. The momentum we gained from executing a robust strategy highlights our continued commitment to delivering long-term shareholder value,”

On 4 April, NYX announced its most important acquisition to date, having entered a binding agreement to acquire sports betting technology Openbet for £270 million.

The acquisition of Openbet will be con-funded by operators William Hill and Sky Betting and Gaming (SB&G) who have agreed to contribute £100 million in combined equity investment (William Hill to contribute £80 million / SB&G £20 million).

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