Gary Shaw, interim Chief Executive Officer of Nektan PLC LON:NKTN, said: “We are delivering significant growth and seeing strong momentum building across all key performance indicators in Europe, whilst we continue to make good progress on further reducing the cost base of the business. We remain confident on the outlook for the full year.
“We were also extremely pleased that our US joint venture, Respin, won the Best Innovation in iGaming North America 2016 award versus stiff competition with industry judges commenting that the product was ‘ideal for millennial users that are comfortable with multi-tasking with their devices while on property which is key for future growth.'”
Nektan PLC (AIM: NKTN), a leading international, business-to-business technology platform and content provider for the gaming industry today gave DirectorsTalk an update on trading for the three months ended 31 March 2016.
Key Highlights
Significant quarterly growth across all key performance indicators (“KPIs”) in Real Money Gaming (“RMG”) in Europe during the period.
— Net gaming revenue (“NGR”) growth of 115% in Q3 to GBP2.3 million (Q2: GBP1.07 million; Q1: GBP0.55 million).
— Total cash bets performed by players/turnover growth of 87% in Q3 to GBP56.21 million (Q2: GBP30.03 million; Q1: GBP15.40 million).
— Total player cash deposits growth of 76% in Q3 to GBP3.78 million (Q2: GBP2.15 million; Q1: GBP1.16 million).
— Total number of first time depositors (“FTDs”) increased 42% in Q3 to 15,628 (Q2: 11,011; Q1: 6,472).
-- Signed 11 new partners in the period.
— Increased capacity to launch new partners on the Evolve gaming platform from 4 a month to 6-7 a month.
— 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 delivered in Europe.
Respin LLC (“Respin”), the Group’s US joint venture, continued to build on its strong momentum in the period from its first mover advantage in the mobile in-venue gaming market, enabling the linking of in-venue platforms in casinos to mobile play on smartphones.
— On 7th April 2016, Respin won the iGaming North America 2016 Best Innovation in North America award ahead of a number of major players in the market. Respin have merged the mobile and land based worlds within the boundaries of regulation driving both a disruptive and innovative product.
