NYX posts revenue rise of 166% in H1 report

stry provider NYX Gaming Group has targeted long-term, sustainable revenue growth after recording a significant rise in revenue for the six months ended 30 June 2016.

In a statement, NYX announced that its revenue for H1 has experienced year-on-year growth of 166%, rising from Can$20.6m to Can$54.9m.

Gross profit also surged at a similar rate, rising 163% to Can$47m, while adjusted EBTIDA climbed 224.6% to Can$15.3m.

NYX did, however, record a net loss of Can$38.2m, in comparison to positive net income of Can$8.8m for the same period last year.

A strong three months to 30 June boosted results for H1, with revenue of Can$35.2m representing year-on-year growth of 230%.

NYX took further positives from the second quarter of 2016, stating that it has seen strong demand in both its Open Gaming System and Open Platform System, while its content studios released 26 new games over the period.

Matt Davey, NYX CEO, said: “With the closing of the OpenBet acquisition, we move our focus from acquisitions to the integration of our business operations and delivery of operational leverage.

“We look forward to continuing to strengthen our business model and create reoccurring, sustainable revenue over the long-term across all products for the benefit of our customers and shareholders.”

NYX agreed to acquire fellow supplier OpenBet for £270m in April 2016.