Nektan, a leading international B2B gaming solutions and services provider, has announced a strong trading and business update for the three months ended 31 December 2017.
Nektan continued to deliver strong growth in 2Q18 compared to 1Q18 and 2Q17, with NGR in the quarter increasing by 21.9% versus the previous quarter and 41.6% versus the same period last year. A focus on player quality and reducing bonus cash spend has driven a 37% saving in bonuses awarded in 2Q18 versus 1Q18 and an expected small drop in FTDs.
The company launched 17 new sites and five new partners in 2Q18 and is currently operating a total of 94 brands from 51 partners with plans to launch up to 18 new sites from both existing and new partners during the current quarter to 31 March 2018.
Nektan launched a number of new games from existing and new vendors, including Evolution Gaming and IWG, taking the Group’s total mobile games portfolio to over 450.
The company generated initial revenue from its B2B business during 2Q18 and now has five live deals. The platform deal previously announced with Tyche is expected to go live during January 2018 and to generate revenue during 3Q18.
On-Premise Gaming (North America)
Respin, Nektan’s US subsidiary recently re-branded as Rapid Games, signed two further deals in 2Q18 and is in discussions with other land-based casinos regarding its on-premise solution. The latest technology will be available for demo at ICE on the PG Soft stand.
“Our core European business continued to progress as expected in 2Q18 with a number of further launches planned in 3Q18, “ said Nektan’s interim CEO Gary Shaw. “Our strategy to move into B2B is paying off with initial revenue generated by the Company. We look forward to announcing further positive updates across Nektan’s business over the next few months, including on our platform deal with Tyche and our US business.”