International B2B and white label igaming provider Nektan has announced figures that show strong growth, with record net gaming revenue in both the last quarter and the past financial year.
NGR for Q4 of FY18, which ended on June 30, was at £5.7m, up by 10.9 per cent compared to the previous quarter and 36.7 per cent year-on-year.
Nektan’s full year NGR was £19.4m, an increase by 48.1 per cent of the £13.1m figure the previous year. First-time depositors grew to 43,289, up 20.4 per cent year-on-year, with cash wagering of £162.9m in Q4 up by 14.3 per cent compared to the previous quarter. Cash wagering for the full year was £559.8m, up 43.4 per cent.
The company currently operates with a total of 113 brands from 55 partners, with 13 new sites and four new partners gained in Q4.
Nektan’s B2B business is becoming a “significant” part of the company’s global strategy, achieved by leveraging the Evolve platform into new, significantly higher margin business lines. EBITDA break-even in Europe is expected during the next financial year.
Nektan generated £105,000 in revenue from the B2B business during the last quarter, versus £83,000 in Q3. A total of 12 deals are now live globally, versus nine in the previous quarter.
In the US, Nektan’s subsidiary, Rapid Games has continued to grow its game portfolios and will go live with its second northern Californian on-premise mobile gaming partner during July 2018. The addition of Metric Gaming’s full service race and sports offering to Rapid’s platform is driving interest from new markets and Nektan says that in reviewing its strategic options in the US, there have been expressions of interest in investing.
Gary Shaw, interim chief executive officer of Nektan, said: “We are delighted with Nektan’s continuing revenue growth, increasing 48 per cent 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.
“Nektan is currently live in 37 countries across Europe, Asia and North America. We have developed from a UK-centric business into a global technology company, delivering to our partners operational gaming capability with speed and flexibility across multiple markets.
“We look forward to announcing further progress in the coming months.”
