18th Apr 2016 08:45
LONDON (Alliance News) - Nektan PLC on Monday said its net gaming revenue surged in the third quarter of its financial year as it signed up a series of new partners.
The company, which provides technology platforms and content to the online gaming industry, said net gaming revenue for the quarter to the end of March was GBP2.3 million, more than double the GBP1.1 million it made in the second quarter and more than four times the GBP550,000 made in the first quarter.
Total cash bets rose 87% to GBP56.2 million from GBP30.0 million in the second quarter, while total player cash deposits increased 76% to GBP3.8 million.
Nektan signed 11 new partners in the period and increased capacity in its Evolve gaming platform from four per month to six-to-seven per month.
"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," said Gary Shaw, Nektan's interim chief executive.
Shares in Nektan were up 4.4% to 75.18 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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