Nektan gaming revenues up 36.7% in Q4 FY18
Supplier receives ‘expressions of interest’ for further investment in US
B2B gaming supplier Nektan has reported a 36.7% year-on-year rise in revenues during the fourth quarter of its financial year 2018.
In the three months to 30 June, the company revealed net gaming revenues of £5.7m, surpassing the £4.2m accrued during the same period of 2017.
Its net gaming revenues for the full financial year 2018 grew by 48.1% year-on-year, rising to £19.4m from a FY2017 high of £13.1m.
Nektan generated £105,000 in revenue from its B2B business during Q4, up 26.5% from Q3, with a total of 12 deals now live globally versus 9 last quarter.
The number of first time depositors also rose during Q4, albeit more modestly by 1.5% YoY, with 43,289 first time depositors registering during the quarter.
Nektan launched 13 new sites, signing partnership deals with four company’s during Q4 FY18, meaning that Nektan now operates with a total of 113 brands and 55 business partners.
Alongside the results, Nektan confirmed it is currently reviewing its strategic options in the US and has had a number of “expressions of interest” to invest in its US subsidiary Rapid Games.
Gary Shaw, Interim CEO of Nektan, said: “We are delighted with Nektan’s continuing revenue growth, increasing 48% in the year to 30 June 2018. We expect to continue to build on this strong momentum in the year ahead.
“We see the business continuing to strengthen further and growth opportunities within both existing markets and, most encouragingly, in the rapidly accelerating demand for our technology from international partners, especially in Asia.
“In addition, with our licensed US mobile gaming platform, we are very well placed to take advantage of the huge opportunity presented by the opening up of the sector in the United States. We look forward to announcing further progress in the coming months.”