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NYX net income up by over 1000%

Prov

NYX
ider NYX Gaming Group’s net income increased 1674% to $8.8m for the six months ended 30 June.

Revenue and gross profit both went up by 66%, ascending to $20.6m and $17.9m respectively.

Negative EBITDA of $1m was reported, in comparison with adjusted EBITDA of $3.4m for the corresponding period last year.

Earnings per share increased to $0.26 from $0.02.

In the second quarter of 2015 alone, net income increased 769% to $13.9m and revenue improved by 45% to $10.7m.

NYX completed its acquisition of the remaining 50% interest in Sportech-NYX Gaming from its joint-venture partner Sportech, a supplier and operator, and supplier Game360 Limited in May, as well as the acquisition of Amaya (Alberta) Inc., formerly Chartwell Technology Inc. and CryptoLogic from provider Amaya Gaming for an initial purchase price of $110m in July.

NYX CEO Matt Davey said: “I'm pleased to announce that Q2 was a very strong quarter for NYX, as we closed the purchase of Game360 and the buyout of our joint venture partner, Sportech, in New Jersey.

“This quarter, we have generated record revenues in our core business driven by the strong organic performance of our gaming products and are well advanced in our realisation of meaningful cost synergies from our recent acquisition of Chartwell and CryptoLogic.”

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