NEKTAN Plc, a London AIM-listed provider of mobile gaming products and services, has just announced that as much as £2.75 million have been added to company’s corporate funds. The amount has been acquired through a funding rounding.
NEKTAN officials provided more information about how the capital has been raised. They announced that the amount of £2.39 million in convertible loan notes has been issued and as many as 32,258 new Ordinary shares have been placed with Octopus Investments Limited.
Back in April, NEKTAN made a similar announcement according to which the company has raised more than £7 million by issuing the aforementioned convertible loan notes.
Company representatives explained that the funds will be necessary as the company attempts to further consolidate its positions on the market and the funds will be used when it is time for putting the future growth strategy into action.
It is a well-known fact that expansion in the US has been among NEKTAN’s top priorities for quite some time. Until now, it has successfully negotiated partnerships with US tribal and traditional casino venues via the joint venture known as Respin.
Representatives of the mobile platform provider were asked to comment the latest events and Gary Shaw, NEKTAN’s Chairman, shared his standpoint on the matter. Mr. Shaw said that Respin is gaining the respect of more and more companies and as a result, the number of NEKTAN US casino partners is constantly growing.
Mr. Shaw did not hide his excitement that the company has new contracts for Xtraspin wheels. NEKTAN’s Chairman also shared that all slot machines featuring the Xtraspin wheels have increased the revenue they generate for casinos with up to 30%. The additional amount will be used for making Respin even more successful.
Mr. Shaw also commented on company’s financial performance and said that the quarterly results clearly indicate that NEKTAN has managed to keep its strong positions not only on the European market but also in the US.
NEKTAN is expected to release a thorough report about its financial performance but according to the information that has already been announced at the end of September, it can take pride in having achieved considerable growth attributed to the aforementioned Xtraspin wheels. The company has recently achieved yet another milestone as it was granted the right to operate in Ireland.
