Nektan has sold its UK B2C business for £200,000 ($262,400) as it continues its restructuring process.
In August, Nektan Founder and Executive Director Gary Shaw – who is also currently serving as Interim CEO – told Gambling Insider the departure of CEO Lucy Buckley was related to the business’s restructuring.
The supplier’s focus is currently moving away from markets like the UK and more towards Asia.
To that end, Nektan has sold its B2C business to Grace Media – part of the Active Win Group – to facilitate continued delivery of its B2C services to white-label partners.
It will receive monthly royalties from Grace Media through a B2B partnership with the company.
Shaw said the deal is “very reassuring to all stakeholders involved," despite Nektan appointing administrators to facilitate the sale.
Nektan’s shares were recently suspended from trading on the London Stock Exchange after the firm missed the deadline to publish its audited annual report and accounts for the year ended 30 June 2019.
However, this was also attributed to the lengthy restructuring process by the supplier.