Nektan PLC INCREASED OWNERSHIP OF RESPIN US JV TO 100% (0270W)
February 06 2017 - 1:00AM
UK Regulatory
TIDMNKTN
RNS Number : 0270W
Nektan PLC
06 February 2017
6 February 2017
Nektan PLC
("Nektan", the "Company" or the "Group")
INCREASED OWNERSHIP OF RESPIN US JV TO 100% AND EUROPEAN GAMES
DISTRIBUTION PARTNERSHIP
Nektan PLC (AIM: NKTN), a leading international B2B gaming
solutions and services provider, is pleased to announce that the
Company has increased its ownership of Respin Inc, the US focused
Class II mobile on-property mobile casino solution provider, to
100% from 85%.
Bringing Nektan's North American business (Respin) closer to the
European division will facilitate the Company's continuing
realignment as an international gaming solutions provider, offering
products and services across both markets through its proprietary
platform, Evolve.
Full ownership also brings an increased focus on regulated
digital casino gaming in North America through the deployment of
Respin's Rapid Bingo on-property mobile solution, which is the
first bring-your-own-device approved mobile gaming platform with a
GLI 547, Class II gaming certification. In addition, the Group's
Rapid Bingo app is the first to be approved by Apple Inc. for
mobile in-venue gaming.
In parallel, Nektan has further strengthened its ties with Spin
Games LLC (Respin's initial joint venture partner) ("Spin") by
signing a games distribution agreement and supply relationship for
Spin's high-quality portfolio of HTML5 mobile casino games for the
Rapid Bingo on-property solution which is continuing to attract
increased levels of interest from tribal casinos in the US.
Pursuant to these agreements, Nektan has become the preferred
distributor in European Interactive markets of Spin's proprietary
games portfolio and certain third party casino games to commercial
gaming operators under its Gibraltar gaming licence, whilst also
publishing the games in its growing managed casino network. Spin's
titles and casino games are on the Robust Online Client(TM) ("ROC")
remote gaming server that is now live through Nektan's Gibraltar
data centre.
Leigh Nissim, Chief Executive Officer, said:
"Participating in North American digital gambling in a regulated
manner is an important part of the Group's strategy and a market
differentiator for Nektan. Our Rapid Bingo on-premise solution is
supporting this goal, by offering entertaining mobile gambling
experiences for players within a casino, with a strong focus on
Class II gaming which is a critical content category for US tribal
casinos.
Our strategic partnership with Spin Games LLC, both for Rapid
Bingo and in the European Interactive cash gaming markets, brings
Spin's high quality casino titles to new regulated markets and
offers Nektan additional content to license to European commercial
gaming operators.
These positive steps are in line with Nektan's strategy to
leverage its assets, expertise and networks across both North
America and Europe, helping to maximise revenue in both
businesses."
For further information on the Group, please contact:
Nektan via Newgate below
Leigh Nissim, Chief Executive
Officer
Patrick Sinclair, Chief
Financial Officer
Stockdale Securities Limited Tel: +44 20 7601 6100
Tom Griffiths / Ed Thomas
Newgate (PR Adviser) Tel: +44 20 7680 6550
James Benjamin / + 44 7747 113 930
Email: nektan@newgatecomms.com
Further information on Nektan can be found on the Group's
website at www.nektan.com
About Nektan:
Nektan is a leading international B2B mobile gaming solutions
and services provider, operating in the regulated, interactive real
money gaming (RMG) gaming space, delivering original and innovative
solutions to commercial organisations that have established online
audiences.
Nektan's full end-to-end technology platform, Evolve, simplifies
and supports the route to mobile and desktop gaming revenues,
managing the full customer experience and back-office operations,
allowing commercial partners to focus on marketing the product to
their consumers.
Nektan's US operating subsidiary in partnership with Spin Games,
Respin LLC, provides US land-based casinos with in-venue mobile
gaming solutions which allow operators to add mobile technology and
content to their existing offerings, with products accessible to
players across both cabinets and mobile devices inside the casinos.
Respin has a strong intellectual property portfolio including game
patents for Rapid Games(TM) (on-property mobile entertainment), and
other captivating concepts and brands.
Nektan is headquartered in Gibraltar, regulated by the Gibraltar
Licensing Authority and the UK Gambling Commission, as well as in
the Irish market and maintains sales and customer support
operations in its two primary geographical targets, Europe and
North America. The proprietary Evolve technology is developed and
maintained by a talented and experienced team of employees from
Nektan's Indian office.
Nektan plc was admitted to the AIM market of the London Stock
Exchange in November 2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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