Developer and supplier of casino and betting content NYX Gaming Group reported today its financial results for the three months and the financial year ended December 31, 2016. The company highlighted the £270-million acquisition of OpenBet as a main driver to its continued growth in the quarters after the deal’s closure.
Quarterly revenue increased 196.6% year-on-year to C$54.5 million. The considerable rise was attributed to the OpenBet purchase as well as to the launch of 14 new customers on NYX’s OGS platform.
Full-year revenue totaled C$163.7 million, up 213% from a year earlier. The company pointed out that the growth was mainly due to the acquisition of OpenBet in 2016, and of Chartwell Technology and CryptoLogic Limited in 2015. According to the provider’s report, OpenBet contributed C$78.4 million to the revenue bulk. What is more, more than 50 new customers launched with OGS over the course of 2016.
Quarterly gross profit amounted to C$48.1 million, up 204% year-on-year. Gross profit margin stood at 88.3% during the reviewed three months. Full-year gross profit rose 221.9% to reach C$144.2 million. Gross profit margin stood at 88.1% in 2016.
NYX reported quarterly net loss of C$61.1 million, compared to net loss of C$10.7 million posted for the same three months of 2015. Full-year net loss totaled C$57.9 million, compared to net loss of C$8.4 million in 2015. The drops were mainly attributed to intangible asset and goodwill impairments.
Although NYX is yet to post its financial results for the first quarter of 2017, the company said in today’s report that it expects revenue of between C$57 million and C$61 million for the three months ended March 31, and adjusted EBITDA of between C$15 million and C$17 million.
Commenting on the company’s 2016 results, NYX CEO Matt Davey said that following the integration of OpenBet, they are now in a good position to establish themselves as a leader in the provision of gaming and sports betting content in a number of regulated jurisdictions.
NYX has recently revealed that OpenBet and its platform handled a record number of 24 million omni-channel sports bets during this year’s edition of the Grand National, which took place on April 8. At the day’s peak, the supplier was faced with the challenging task to process 68,0000 bets per minute. The figure posted represented a 10% increase from the 2016 edition of the popular horse racing competition.
There was also a rise in the number of account transactions processed during the Grand National 2017. OpenBet handled 74 million such transactions this year, up 22% from 2016. Mobile bets represented the greater portion of wager placed. Those accounted for around 76% of all bets made during the event that bookmakers and platform providers generally consider as one of the busiest of the year.
In March, OpenBet also broke record for bets and account transactions handled during the Cheltenham Festival. The company processed 35 million horse racing bets and 227 million account transactions.
