Gaming technology platform provider Nektan has reported a record quarter, leaving it in a position to make confident progress in the US igaming market.
Net gaming revenue for the three months up to June 30, 2018, reached £6.4m, up by 12.6 per cent on the previous quarter and 64.6 per cent year-on-year.
The number of first-time depositors decreased by 2.9 per cent from a year earlier to 38,981, with Nektan stating this was down to “an increasing focus on maximising player life time values”.
Overall cash wagering was £178.3m in Q1 2019 – up by 40 per cent from the figure of £126.7m in Q1 2018.
Nektan said in a trading update it has secured a tier-one operator in the US, which is due to go live imminently, while in Europe the target of becoming EBITDA break-even by the end of FY19 is on track.
Nektan stated: “With the recent PASPA ruling, the board is seeing significant interest in the US market. The Board continues to review its options in the US, which include expressions of interest to invest directly into the US business unit, with the objective of reducing the cash burden on Nektan within the next two quarters.”
