Nektan plc (AIM: NKTN), a leading international B2B mobile gaming platform and content provider, has given DirectorsTalk its results for the six months ended 31 December 2015.
Period-End Summary:
— The Group continues to see strong and consistent quarterly growth in Real Money Gaming (“RMG”) in Europe across all key performance indicators (“KPIs”) in line with the trading update released on 1 February 2016.
— Strong action has been taken during January 2016 to reduce the ongoing monthly cost base by 45% to GBP280,000 by April 2016, lowering the level of monthly NGR at which the Group will be EBITDA positive
— Nektan’s US joint venture with Spin Games LLC, Respin LLC (“Respin”), continues to see considerable momentum in the US from its first mover advantage with 54 signed and pending contracts with tribal and commercial casino operators (H1 2014: nil)
— Launch of Nektan Marketing Services (“NMS”) in September, in partnership with Fred Done (Founder of Betfred, one of the world’s largest independent bookmakers) and Warren Jacobs (Managing Director of Active Win Media Ltd)
— The Group announced in March 2016 a new fundraising totalling GBP2.93 million that puts in place additional working capital to support the strong growth being seen in Europe and in the US JV. The resolutions at the EGM on 29 March 2016 were passed unanimously.