TIDMNKTN
RNS Number : 3783T
Nektan PLC
12 October 2017
12 October 2017
NEKTAN PLC
("Nektan", the "Company" or the "Group")
Q1 Trading Update
Further Strong Revenue Growth
Nektan plc (AIM: NKTN), a leading international B2B gaming
solutions and services provider, provides an update on trading for
the three months ended 30 September 2017 (Q1 FY18). The figures
stated below are all unaudited.
Managed Gaming Solutions (Europe)
Q1 FY18 Q1 FY17 Change Q4 FY17 Change
----------------------- ---------- ---------- ------- ----------- -------
Net Gaming Revenue
(NGR) GBP3.9m GBP2.1m 88.4% GBP4.2m -6.6%
----------------------- ---------- ---------- ------- ----------- -------
First Time Depositors
(FTDs) 40,148 14,037 186.0% 42,429 -5.4%
----------------------- ---------- ---------- ------- ----------- -------
Cash Wagering GBP126.7m GBP56.3m* 125.3% GBP120.5m* 5.2%
----------------------- ---------- ---------- ------- ----------- -------
*restated
-- In Q1 FY18, Nektan continued to deliver strong growth
compared to Q1 FY17, with NGR in the quarter increasing by
88.4%.
-- A significant increase in deposits, compared to Q4 FY17 and
set against a reduction in FTDs, shows that the Company is
attracting a higher quality of player. A combination of seasonality
and a higher pay-out ratio resulted in a modest decrease in NGR
compared to Q4 FY17.
-- The Company launched 5 new sites and 1 new partner in Q1 FY18
and is currently running a total of 83 brands with plans to launch
10 new sites with 4 new partners during the current quarter to 31
December 2017. The benefits of this expansion are already evident
during the early part of Q2 FY18.
-- In Q1 FY18, Nektan launched 42 new games with 4 games vendors
taking the Group's total mobile games portfolio to over 350.
-- The Company continues to penetrate further into the Swedish
market and is launching a new localised casino proposition during
Q2 FY18.
B2B
-- The Company expects to announce its first platform deal in
relation to its B2B business in the next month. The core Nektan
Evolve technology will be utilised to deliver a mobile casino games
platform in up to 23 countries with the business partner
responsible for B2B localised licensing. The solution is expected
to be live before the end of the calendar year. Nektan sees this as
a very important development and part of its strategy to diversify
into newer geographic markets outside Europe.
On-Premise Gaming (North America)
-- Interest in Rapid Games' "On-Premise" mobile gaming solution
continues to grow and the product is currently going through
internal review and approval processes in several US tier 1 tribal
casinos.
-- Respin continues to expand its Rapid Games product offering
with recent approvals for a number of new games in both its class
II and class III portfolios as well as being one of the only
operators to receive platform certifications for GLI 16, 26, 21 and
11 regulations allowing it to be one of the first companies to
offer mobile casino in the US.
-- The Company has entered into multiple strategic content
partnerships to further enhance its games portfolio and is in the
process of adding multiple "smart table" solutions to its approved
client library.
Gary Shaw, Interim Chief Executive Officer of Nektan, said:
"Our core European business continued to progress in Q1 FY18 as
expected. The proposed launch of new commercial partners during the
current quarter will see that growth continuing. Our strategy to
leverage our core technology asset Evolve into further
geographically diversified markets through platform licensing deals
will see the business develop into one of the first gaming
technology businesses with its platform live across three major
continents. I am particularly pleased with the progress being made
in the US where our investment positions Nektan as one of the first
movers in mobile casino gaming."
For further information on the Group, please contact:
Nektan via Newgate below
Gary Shaw, Interim Chief Executive
Officer
Patrick Sinclair, Chief Financial
Officer
Stockdale Securities Limited
Tom Griffiths / Ed Thomas +44 20 7601 6100
Newgate (PR Adviser) +44 20 7680 6550 / + 44 7747 113
James Benjamin 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, 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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