NYX revenues more than treble following OpenBet deal
Toronto-listed supplier to "move focus to integration" following successful acquisitions
NYX Gaming Group has reported a 230% rise in Q2 revenues following the completion of the OpenBet acquisition and strong organic growth.
The Las Vegas-based firm posted revenues of C$35.2m (£20.6m) in the three months ended 30 June, generating an adjusted EBITDA of $10.5m (£6m), compared to $2.5m (£1.5m) in the same period last year.
Royalty and Licence revenue was the main driver of growth as the firm benefited from a full quarter of contribution from last year’s Chartwell and CryptoLogic acquisitions, and approximately six weeks of OpenBet.
However, NYX also enjoyed 28% organic growth in the period, launching 18 new customers on its platforms, including Sisal, Luckia and Mybet.
“We are pleased with the progress that we have delivered in Q2,” NYX CEO Matt Davey said.
“With the closing of the OpenBet acquisition, we move our focus from acquisitions to integration of our business operations and delivery of operational leverage.
“We look forward to continuing to strengthen our business model and create reoccurring, sustainable revenue over the long-term across all products for the benefit of our customers and shareholders.”
Following a strong Q1, the results saw NYX revenues up 166% to $55m for the first half of the year.
NYX shares rose 2% following the update to $1.9.