NYX Gaming posts near doubling of 2015 revenues
CEO Matt Davy lauds "remarkable year" as revenues hit CA$52m but profits tumble
NYX Gaming Group today posted a 92% increase in full-year revenues after the online content and technology supplier was boosted by a strong Q4 performance where revenues leapt by 115%.
Total revenues for the 12 month period ended 31 December were CA$52.3m, up from $27.3m in 2014, with the final three months of the year contributing $18.4m to that total.
However, the hike in revenues wasn’t felt on the bottom line with the group reporting an EBITDA loss of ?773,000 for the full-year, although Q4 EBITDA delivered a positive contribution of $1.6m.
Much of this loss was a result of the company’s decision to restructure the business, losses suffered from poker network OnGame, as well as the acquisition of games development studio Side City Development.
On a gross basis, profits were up 85% to $44.8m for the full-year, albeit at a slightly reduced margin of 86%.
During the year NYX signed deals to supply 18 new operators with its Open Gaming System and one deal for its Open Platform System during the fourth quarter.
The supplier also launched content deals with nine new clients during the final quarter including 888 and BoyleSports, and also saw Golden Nugget switch to its platform in New Jersey.
NYX Gaming CEO Matt Davey described 2015 as “another outstanding and remarkable year” for the company, which earlier this month agreed a ?270m deal to acquire leading sportsbook provider OpenBet.
“Our ongoing performance is a reflection of our ability to deliver content and technology services that meet the demands of the digital gaming industry,” Davey said.
“The momentum we gained from executing a robust strategy highlights our continued commitment to delivering long-term shareholder value,” he added.
NYX also disposed of the loss-making poker network OnGame since the turn of the year, although the firm said it had retained exclusive rights to use the product across North America.