Nektan posts encouraging Q2 results

n update to investors, Nektan has posted strong Q2 FY18 results for the three months ending 31 December 2017. The gaming solutions and services provider reported a 41.6% year-on-year rise in net gaming revenue during the quarter.

Net Gaming Revenue increased by 21.9% in the quarter versus the previous quarter, and 41.6% versus the same period a year prior.

The Company launched 17 new sites and five new partners in Q2 FY18 and is currently operating a total of 94 brands from 51 partners with plans to launch up to 18 new sites from both existing and new partners during the current quarter to 31 March 2018 (Q3 FY18).

Furthermore, first-time depositors climbed 4.8% year-on-year to 36,907. However, whilst these figures are impressive, they were actually down on the 40,148 recorded in Q1.

Gary Shaw, Nektan’s Interim Chief Executive, commented: “Our core European business continued to progress as expected in Q2 FY18 with a number of further launches planned in Q3 FY18. Our strategy to move into B2B is paying off with initial revenue generated by the company.

“We look forward to announcing further positive updates across Nektan’s business over the next few months, including on our platform deal with Tyche and our US business.”