Nektan PLC Trading Update (4221B)
January 10 2018 - 1:00AM
UK Regulatory
TIDMNKTN
RNS Number : 4221B
Nektan PLC
10 January 2018
10 January 2018
NEKTAN PLC
("Nektan", the "Company" or the "Group")
Q2 Trading Update
Continued Strong Growth & First B2B Revenue
Nektan plc (AIM: NKTN), a leading international B2B gaming
solutions and services provider, provides a trading and business
update for the three months ended 31 December 2017 (Q2 FY18). The
figures stated below are all unaudited.
Managed Gaming Solutions (Europe)
Q2 FY18 Q1 FY18 Change* Q2 FY17 Change*
----------------------- ---------- ---------- -------- ---------- --------
Net Gaming Revenue
(NGR) GBP4.7m GBP3.9m 21.9% GBP3.3m** 41.6%
----------------------- ---------- ---------- -------- ---------- --------
First Time Depositors
(FTDs) 36,907 40,148 -8.1% 35,215 4.8%
----------------------- ---------- ---------- -------- ---------- --------
Cash Wagering GBP127.8m GBP126.7m 0.8% GBP106.7m 19.8%
----------------------- ---------- ---------- -------- ---------- --------
*calculated using underlying, non-rounded figures **restated
-- Nektan continued to deliver strong growth in Q2 FY18 compared
to Q1 FY18 and Q2 FY17, with NGR in the quarter increasing by 21.9%
versus the previous quarter and 41.6% versus the same period last
year.
-- This is despite a slight drop in FTDs and a marginal increase
in cash wagering from Q1 FY18, which are as a result of a
deliberate focus by the Company on player quality and efficiency of
spend resulting in a 37% saving in bonuses awarded in Q2 FY18
versus Q1 FY18.
-- The Company launched 17 new sites and five new partners in Q2
FY18 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 (Q3
FY18).
-- 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.
B2B
-- The Company generated initial revenue from its B2B business
during Q2 FY18 of GBP47k 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 Q3
FY18.
On-Premise Gaming (North America)
-- Respin, Nektan's US subsidiary recently re-branded as Rapid
Games(TM), signed two further deals in Q2 FY18 and is in
discussions with other land-based casinos regarding its on-premise
solution.
Gary Shaw, Interim Chief Executive Officer of Nektan, said:
"Our core European business continued to progress as expected in
Q2 FY18 with a number of further launches planned in Q3 FY18. 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."
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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