Gaming technology supplier Nektan has seen revenue grow 5.9 per cent in a trading update to the third quarter of its financial year.
The company, which specialises in mobile casinos and services operators such as BetVictor, reports that in its unaudited interim results released on March 25 the B2B division had record growth while B2C experienced a decline. This was down to increased UK regulation in areas such as player marketing and a delay in the issuing of its Swedish operating licence.
Revenue for quarter three is up 5.9 per cent overall to £5.4m, while B2C net revenues are unchanged at £5.1 per cent and B2B revenue is up 322 per cent at £350,000.
The company’s US subsidiary, Respin has launched its Class II and II mobile product with a tier-one casino group in California and signed a new contract with one of the largest casinos in Palm Springs, California. It said that it is now finalising the sale of a majority shareholdings in Respin.
Lucy Buckley, CEO, said: “Q3 has been another record quarter of growth for our rapidly emerging B2B business. We continue to see strong demand for our award-winning casino technology as evidenced by the signing of seven significant B2B partners during Q3 FY19. Having achieved EBITDA break-even in H1 of this financial year, a key achievement for Nektan, we remain on track to be break-even in FY19.
"As reported in our interim results announcement on 25 March 2019, whilst the headlines revenue figures are slightly down on Q2, our growing portfolio of partners means that we do not expect a repeat of what was a quiet period by historical standards.”
