NYX releases Q3 2016 report

By Dhanum Nursigadoo
NYX Gaming Group closes Q3, ending 30 September 2016, with revenue of CAD $54.4m, 309% year-on-year increase, and an adjusted EBITDA of $14.5m up 209% year-on-year.

The TSX-listed company attributed growth to the acquisitions of OpenBet, Cryptologic, and Chartwell in 2015, with particular emphasis placed on OpenBet’s influence. This helped generate 7 new partner agreements during the quarter. NYX clients now include Topsport, Comeon!, Televisa, and OlyBet

Gross profit also increased by CAD $38m, 342.1% year-on year. The increase in gross profit was a result of an increase in revenue from the underlying core casino business and again attributed to the impact of acquisitions.

The company also detailed its win as the Digital Gaming Innovator at the 2016 Global Gaming Awards on 26 September 2016 in Las Vegas.

NYX governance reported the company held commitments with a further 23 customers who would be launching NYX services and provisions in the coming months, including Sky Betting and Gaming’s new Italian gaming division.

NYX CEO, Matt Davey, comments on the report: “Through our M&A activity, we have built the foundations of a world-class digital gaming software supplier that focuses on regulated markets. The team has made significant progress against a number of key objectives that position us at the forefront of the industry opportunity.”

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