Panmure analyst Adam Lawson says: “Nektan has released a full year trading update which delivers a number of key messages: 1) increased focus on higher growth and higher margin sectors i.e. Real Money Gaming and the US opportunity; 2) core KPIs indicate strong progress in RMG, validating the business model; and 3) the Respin joint venture is gathering momentum with four casinos in two states now live. While a FY 2015 EBITDA loss of £5.5m was in line with our expectations, funding delays have impacted the timing of investment and therefore the rate of revenue growth. We have revisited our forecasts to adjust for this with the result that our FY 2016 revenue forecast is reduced from £36.0m to £16.4m. Cost-saving initiatives have offset the profit impact of this reduction and we are now forecasting EBITDA of £0.5m in FY 2016 versus £2.8m previously. Despite this shift of revenue and profitability to the right we continue to view Nektan as a potential leader in the mobile and desktop gaming market.”
Woohoo Games Conquers India Market
1st May 2020
A forward-thinking creative gang called Woohoo Games, got a unique opportunity to exhibit its content in one of the most attractive markets, India. This was made official via alignment with 10CRIC, an entertainment venue that hosts