NYX revenue up for last year

ider NYX Gaming Group has reported a 46% revenue increase for the full year 2014.

The annual revenue of $27.3m is up from $18.7m in 2013, while gross profit went up 49% from $16.2m to $24.1m.

Adjusted EBITDA rose 43% from $4.3m to $6.1m and gross margin ascended from 86.7% to 88.3%

NYX CFO Arthur Hamilton said: "Our 46% increase in revenue and 49% increase in gross profit demonstrates the strength and scalability of our business. We continue to benefit from recurring revenue received from royalties and licensing fees which represents over 80% of our total revenue.

"Our cash flow generation remains solid, and we look forward to continuing building on our strong balance sheet and maintaining financial flexibility."

The revenue and gross profit increases were generated despite incurring a net loss of $8.3m in the fourth quarter of last year, though revenue improved by 35% year-on-year in the same period from $6.3m to $8.6m and gross profit was up 41% from $5.3m to $7.5m.

The release of NYX’s financial results for last year have come in the same month that it was announced it will be acquiring Amaya (Alberta) Inc. and Cryptologic, each of which are wholly owned subsidiaries of fellow provider Amaya Gaming Group, for CAD$150m.