NYX publishes mixed 2015 results

By David Cook
Significant increases in revenue and gross profit have been reported by NYX Gaming Group for the full year 2015, though not all figures were positive.

Revenue soared 91% to CAD$52.3m and gross profit improved by 86% to CAD$44.8m, though gross margin percentage actually dropped to 85.6% from 88.3%.

Negative adjusted EBITDA of CAD$773,000 was reported, in comparison with positive adjusted EBITDA of CAD$6.1m.

Increased net loss of 20% to CAD$8.4m was another blotch on the results.

For the three months ended 31 December, revenue and gross profit both more than doubled, with revenue increasing 115% to CAD$18.4m and gross profit ascending 111% to CAD$15.8m.

The net loss total still increased for that period however, going up from CAD$8.3m to CAD$10.7m.

It was announced earlier this month that NYX is to acquire fellow provider OpenBet for £270m, which will be partially funded by William Hill (£80m) and Sky Bet (£20m).

That announcement came on the same day that NYX decided to sell its European poker business, Ongame, to an undisclosed buyer, though details of that deal are expected to be released at a later stage.

NYX bought Ongame from Amaya in November 2014.

Matt Davey, NYX CEO, will be giving an exclusive interview to Gambling Insider on the results.

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