Gaming Nation revenues up 74% in Q2 2017

Cana

gamingnationrevenue
dian based sports betting and DFS operator Gaming Nation has announced a 74% increase in its year-on-year revenue for the second quarter of 2017.

In its second financial filing of the year, the company reported consolidated revenues of $3.85m, beating the $2.2m figure reported in the same quarter of 2016. Adjusted earnings before interest, tax depreciation and amortisation amounted to $0.6m, with company net losses from continuing and discontinued operations amounting to $3.39 Million for the second quarter.

During the second quarter of 2017, its 5050 Central brand secured multi-year agreements with 27 new customers and also renewing deals with 14 existing customers, which represented more than $500,000 in annual recurring revenue.

5050 Central’s total Q2 raffle proceeds increased by 20% to $22.6 Million compared to the $18.8 Million in Q2 2016. The business line’s primary area for growth during the quarter was the newly regulated Ontario market with more than 20 customers signing long-term agreements.

However the biggest increase across the Gaming Nation group was in its DFS offering Fantasy Guru which generated a total of $1.1 Million in revenue, representing a 966% increase in revenues in Q2 of 2017 compared to Q2 of 2016.

Its UK facing brand, BD Sport Group has had a busy start to the year concluding sponsorship deals with Coral and football partnership deals with Newcastle United, Norwich City, Fulham and Leeds United.

The positive news comes after private equity firm Orange Capital Ventures GP LLC entered into a plan of arrangement in which its OC Special Opportunities Fund will acquire 100% of shares in Gaming Nation, in a deal to be finalised later this year.

Gaming Nation’s President and CEO Scott Secord recently commented: “We believe the transaction with Orange Capital is both a positive for our shareholders and for the future of Gaming Nation and its core business lines.”

Premium+ Connections
Premium

RISK

 
Premium

GammaStack

 
Premium

Digitain

 
Premium

Lynon

 
Premium

Imagine Live

 
Premium

Revsharks

 
 
Premium

PIN-UP Partners

 
Premium

1xBet Partners

 
Premium

Galaxsys

 
Premium

Sport Generate

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Zeal Network SE

Stefan Tweraser

VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...