NYX Gaming Group revenue up 73% in Q2

tal gaming software supplier NYX Gaming Group has reported a year-on-year revenue increase of 73.3% for the second quarter of 2017.

In its second financial report of 2017, the company posted revenue of C$61m compared to C$35.2m for the three months ending June 30, 2016.

All revenue categories, with the exception of social gaming, grew primarily as a result of a full quarter contribution from the company’s acquisition of OpenBet in May 2016, which provided C$32.9m versus C$16.5m for the second quarter of 2016.

NYX Gaming gross profit increased by 68.5% from C$30.7m in the second quarter of 2016 to C$51.8m in the same period of 2017. The company's adjusted earnings before interest taxation depreciation and amortisation increased from C$10.5m in Q2 2016 to C$17.5m. Positive revenue growth for the company resulted in a decrease in its net loss figures from C$36m in Q2 2016 to just over C$21m in the same period of 2017.

During the second quarter of 2017, NYX signed 18 new agreements on its open platform and open gaming solutions, and successfully launched content across 13 new client sites including Soft Swiss, JAXX, Sekabet, Casino Gran Madrid, and Goldbet. The company also launched 21 new slot games on the OGS platform including games with PokerStars NJ, a Stars Group brand in New Jersey, USA.

In a statement released with the figures, Matt Davey, CEO of NYX Gaming Group said: “We saw positive momentum in the second quarter with sequential improvement in revenue, adjusted EBITDA, and adjusted EBITDA margin from the prior quarter.

“Our development pipeline remains strong and we continue to sign new customers at a steady rate, as our sportsbook, gaming, and content offerings are resonating with customers and driving scale and operating leverage in our business.”