NYX Q1 revenues up 89% following string of client wins

Supplier posts strong growth following product launches with likes of Stanleybet, Sisal and SNAI

NYX Gaming has reported an 89% rise in Q1 revenues to $18.8m, with growth powered by a mix of recent acquisitions and new partner launches.

The supplier said revenue generated by its recently acquired Chartwell and CryptoLogic businesses had helped swell numbers while product launches with the likes of Stanleybet, Sisal and SNAI also had a positive impact on performance.

Even without the acquisitions, organic revenues for the first three months of the year totalled $13.1m – up 32% – while the supplier also signed-up 12 new clients to its Open Gaming System (OGS), including Paddy Power, Marathonbet, and Telecinco, during the period.

Adjusted EBITDA for ??? was $4.8m compared to $2.4m in 2015. NYX said the increase in EBITDA was down to strong organic growth in its real-money casino business from core content and its OGS and OPS products.

The firm, which is listed on the Canadian TSX Venture Exchange, also reported a net loss of $9.1m, largely thanks to costs associated with the acquisition of OpenBet, a deal which was finalised on Monday.

“We are very proud that Q1 not only marks another strong quarter but is also a confirmation of our long-term strategy to be the leading provider of digital gaming content and technology worldwide,” NYX CEO Matt Davey said.

“Through our highly successful M&A activity, we have set in place the building blocks for our global business, and are now focused on realising our full potential for the benefit of our customers and shareholders.”

The addition of OpenBet and its 2014-15 revenues of £64.5m will mean sportsbook will account for roughly 55% of the enlarged NYX business going forward.