NYX profits rise by nearly 200% in Q1

Gaming Group has revealed its financial results for the first quarter of 2017, with an increase in profit of 199.8%.

The company took in Can$58.9m (US$43.8m) compared to Can$16.8m in the prior-year period.

Adjusted EBITDA came to Can$16.8m, an increase of 250% year-on-year from Can$4.7m.

NYX attributed the results to the acquisitions of OpenBet and Betdigital in May 2016, as well as increased revenues from existing customers and new customer launches.

Matt Davey, Chief Executive of NYX, said: “With our new operating model in place, we’re pleased to report growth in revenue and adjusted EBITDA.

“Our customer development pipeline remains strong, and we are focused on profitable growth through our product led strategy with targeted R&D investment in sportsbook, gaming, and content technologies.”