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NEWS 5 April 2019

Nektan Q3 revenue grows year-on-year but lower than Q2

By Nathan Joyes

Nektan saw its overall revenue grow 6% year-on-year, to £5.4m ($7m), for Q3 of its financial year.

However, the company’s revenue did drop 16% compared to Q2.

The B2B division reported significant growth, rising 322% year-on-year from £83k to £350k.

B2C net gaming revenue was £5.1m – identical to the prior period – while B2C first time depositors declined 12% to 31,914.

This was due to a number of factors, including increased UK regulation around player marketing and verifications, as well as a delay in granting the company’s Swedish operator license.

The board expects trading to improve in the next quarter, as its B2C network now has a total of 152 white label casino sites live, with a further 10 new partner contracts signed during this period.

Lucy Buckley, Nektan CEO, said: "Q3 has been another record quarter of growth for our rapidly emerging B2B business.

"As reported in our interim results announcement on 25 March 2019, while the headline revenue figures are slightly down on Q2, our growing portfolio of partners means we do not expect a repeat of what was a quiet period by historical standards."

RELATED TAGS: Online | Industry | Sports Betting | Mergers & Acquisitions | Financial
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