Provider of B2B technology platform and related content for the international gambling industry NEKTAN PLC announced today its financial results for the three months ended March 31, 2016 or the third quarter of its fiscal year. The company reported significant growth over all its key metrics related to the provision of real money gaming options across Europe.
Net gaming revenue increased 115% during the period in review to £2.3 million. In comparison, the amount of £1.07 million was posted for the second quarter of NEKTAN’s financial year. The company also reported total player cash bets performed during the three months ended March 31, 2016 grew 87% to reach £56.21 million compared to £30.03 million in the previous quarter.
An increase was also registered in the overall player cash deposits. Those totaled £3.78 million, up 76%. The amount of £2.15 million was posted for the previous quarter of the fiscal year. NEKTAN also saw the number of first-time depositors increase 42% in the three-month period ended March 31, 2016 to 15,628. There were as many as 11,011 first-time depositors in the previous quarter.
During the period in review, the company signed agreements with 11 new partners. It also pointed out that it increased the capacity to launch new clients on Evolve – its own gaming platform, which is aimed at managing the full back-office operations and customer experience for its B2B partners, thus making the road to both desktop and mobile revenue less challenging. The platform will now be able to support the launch of up to 7 new partners.
NEKTAN also said that Respin LLC, known to be the company’s US joint venture, kept on building on its strong momentum during the third quarter of the fiscal year. It could be said that Respin is the pioneer in the mobile in-venue gambling market, providing operators of land-based casinos with the opportunity to link their operations with mobile applications.
Commenting on the company’s financial performance during the three months ended March 31, 2016, NEKTAN Interim CEO Gary Shaw said that they had kept on delivering a significant growth across all key performance indicators in Europe and that they would continue making progress towards a further reduction of costs. The executive also pointed out that they are confident about the company’s full-year outlook.
