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Nektan Q1 Trading Update – Record Quarterly Revenues

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Nektan plc (AIM: NKTN), an international gaming technology platform and services provider, is pleased to announce another record quarter for the first three months of the financial year ending 30 June 2019 (Q1 FY19).

Nektan delivers premium and compliant gaming content to gaming sites worldwide, via its proprietary technology platforms Evolve (B2C) and E-Lite (B2B). This latest quarter has delivered stronger than expected growth leading to record quarterly revenues.

The figures stated below are all unaudited.

 

Managed Gaming Solutions (Europe)

  Q1 FY19 Q4 FY18 Change* Q1 FY18 Change*
Net Gaming Revenue (NGR) £6.4m £5.7m 12.6% £3.9m 64.6%
First Time Depositors (FTDs) 38,981 43,289 -10.0% 40,148 -2.9%
Cash Wagering £178.3m £162.9m 9.4% £126.7m 40.7%

 

*calculated using underlying, non-rounded figures

 

Highlights

  • KPIs Update:
  • In Q1 FY19 Nektan delivered record NGR and Cash Wagering figures, during the summer months, traditionally a quieter time for gaming activity, especially one that included the World Cup.
  • The Group’s strong growth in NGR has continued, growing 12.6% in Q1 FY19 versus Q4 FY18 and 64.6% versus Q1 FY18.
  • The dip in FTDs during Q1 FY19 is due to an increasing focus on maximising player life time values which will improve profitability going forward for Nektan and its partners.
  • Gaming Distribution Update:
  • Nektan launched multiple new sites and is now delivering gaming content to a record number of 143 global casino brands in Q1 FY19.
  • The Group’s pipeline of additional casino brands from both existing and new UK and international partners remains strong.
  • Gaming Content Update:
  • Nektan’s platform has over 700 games (over 500 in Q4 FY18, an increase of 40%) from a total of 27 games providers, underlining the diversified nature of Nektan’s large gaming content portfolio.
  • Nektan remains on course to become EBITDA break-even in Europe by the end of FY19.

 

B2B

  • As previously reported, via the E-Lite platform, Nektan’s B2B business is seen as an area of significant growth potential and higher margin, which in the past three quarters has provided quarter-on-quarter growth of 77%, 27% with Q1 FY19 delivering revenue of £142k, growth of 35% versus £105k in Q4 FY18.
  • Nektan now has a total of 14 deals live globally compared with 12 in Q4 FY18.
  • The first global platform deal with Tyche Digital (“Tyche”) now has 14 sites live from 10 operators and has experienced double digit month on month growth in Q1 FY19, albeit off a low base.  In addition, there is a significant pipeline of further integrations expected over the coming months, where Nektan is benefiting from its speed of integration and breadth of premium content and games offering.
  • 432 games are now live on E-Lite from a total of 13 games providers.

 

North America

  • In Q1 FY19, Nektan has completed back-end integration, regulatory approval and white label customisation with a major tier-one operator for launch in-venue in Q2 FY19.
  • Metric Gaming’s full-service Race and Sports betting platform has now been integrated into the Evolve platform, giving Nektan a wider product offering in the US.
  • Using its development team based in India, Nektan has completed the development of four third-party games for launch on Nektan’s Evolve platform in both the US, through its US brand Rapid Games, and in Europe.
  • With the recent Supreme Court Professional and Amateur Sports Protection Act (“PASPA”) ruling, the Board is seeing significant interest in the US market.  The Board continues to review its options in the US, which include expressions of interest to invest directly into the US business unit, with the objective of reducing the cash burden on Nektan within the next two quarters.

 

Gary Shaw, Interim Chief Executive Officer of Nektan, said:

“Q1 FY19 has been very strong and we have seen accelerating growth momentum across all business lines.  We are on course to be EBITDA positive in Europe by the end of this financial year.  Since becoming a public company in 2014, Nektan has seen only one quarter-on-quarter decline in revenue, which was during this usually quieter period of activity in the same period last year, so we are very encouraged to see such a positive quarter and expect this success to continue.

Given the past few quarters of continual expansion in content provision and our significant build-up of global partnerships, we are now within striking distance of our ambition to be the dominant provider of premium gaming content in the industry.  We will continue to build our portfolio of content which, combined with speed of content delivery into partners’ live gaming sites globally, makes Nektan’s offering a very attractive proposition.  We are adding more cutting-edge content and channelling this not only to more partners, but bigger partners too. Nektan is live in more jurisdictions and languages than ever before and, in particular, our Asia business, is scaling substantially as our technology is applied by more partners.

We are very confident that Nektan is in an excellent position to capitalise on the solid technological foundation we have built.  Our B2B division in particular is bringing a wealth of international opportunities from tier-one partners.  In addition, our North America division is making progress and is due to go live shortly with a tier-one operator.  We are positioned to take advantage of the opening up of the sector in the United States with a pipeline of upcoming opportunities.”

 

For further information on the Group, please contact:

Nektan

Gary Shaw, Interim Chief Executive Officer

Patrick Sinclair, Chief Financial Officer

+44 20 3463 8735
   
Stockdale Securities Limited (Nominated Advisor and Joint Broker)

Tom Griffiths / Ed Thomas

+44 20 7601 6100
   
Smaller Company Capital Limited (Joint Broker)

Rupert Williams / Jeremy Woodgate

+44 20 3651 2911
   
Nominis Advisory (PR Adviser)

Angus Campbell

+44 7 881 625 098

Email: angus@nominis.co

   

 

Further information on Nektan can be found on the Group’s website at www.nektan.com.

 

About Nektan:

Nektan is an international B2B and white label gaming software and services provider, operating in the regulated, interactive real money gaming (RMG) space, delivering original and innovative solutions to commercial organisations that have established online audiences.

Nektan’s full end-to-end technology platform, Evolve, simplifies and supports the route to mobile and desktop gaming revenues, managing the full customer experience and back-office operations, allowing commercial partners to focus on marketing the product to their consumers.

Nektan’s US operating subsidiary, provides US land-based casinos with in-venue mobile gaming solutions which allow operators to add mobile technology and content to their existing offerings, with products accessible to players across both cabinets and mobile devices inside the casinos. Respin has a strong intellectual property portfolio including game patents for Rapid Games™ (on-property mobile entertainment), and other captivating concepts and brands.

Nektan is headquartered in Gibraltar, regulated by the Gibraltar Licensing Authority and the UK Gambling Commission, as well as in the Irish market and maintains sales and customer support operations in Europe and North America.  The proprietary Evolve technology is developed and maintained by a talented and experienced team of employees from Nektan’s Indian office.

Nektan plc was admitted to the AIM market of the London Stock Exchange in November 2014.

 

Source: Latest News at European Gaming Media

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Week 50 slot games releases

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Check out this week’s latest slot releases from across the industry!

 

First up we’re gonna sail to glory in Blueprint Gaming’s Vikings Unleashed Megaways™! Set in the hazardous waters of the North Sea, Blueprint’s latest release sees the fearsome Viking warriors unleash their fury onto the reels, with 117,649 ways to win thanks to the MegaWays™ mechanic, under licence from Big Time Gaming.  “Players will need to be fearless in the face of battle in our latest slots release, Vikings Unleashed Megaways™. – said Jo Purvis, Director of Marketing and Relationships at Blueprint Gaming.

 

 Blueprint Gaming’s Vikings Unleashed Megaways™

 

This week Konami Gaming, Inc. announced the launch of its Concerto Opus cabinet following documented success at trial locations. “Konami has hit the jackpot on the new Opus cabinet. With the large single screen display, the graphics and bonus rounds really provide our players with an exciting experience,” – added Stacey Young, vice president of slot operations at Motor City Casino Hotel in Detroit, Michigan.

Konami's Big Screen Opus Machine slot

 

 

NetEnt released a super sci-fi slot called: Wild-O-Tron 3000 !Set in a 1960s robot lab, Wild-O-Tron 3000TM is a science fiction-themed video slot that transports players to a time when the genre was popularised. “Packed with cyborgs and transforming robots, Wild-O-Tron 3000 will resonate with sci-fi fans and gamers that love stacks and Wild symbol driven games,” – commented Bryan Upton, NetEnt Director of Game Products.

NetEnt's super sci-fi slot Wild-O-Tron 3000

 

 

We’re gonna explore the Russian folklore with the help of Quickspin in their latest slot: Ivan and the Immortal King! The video slot takes players back into the enchanted past of ancient Russian folklore.

Quickspin - Ivan and the Immortal King slot

 

 

Wazdan’s 19th HTML5 game release of the year, Slot Jam, is packed with fruity goodness. This is another new generation slot from the innovative slots-manufacturer which is attracting the attention of all the top operators and aggregators. Slot Jam showcases Wazdan’s world’s-first Volatility Levels™ that allow players to set the game to a low variance where the game has more frequent but smaller wins.

 Slot Jam from Wazdan

 

 

With Endorphina’s latest releases back to back, they definitely now how to keep us all on our toes. With this latest Lucky Streak 2 release, the ice and snow in these winter days can’t compete with Endorphina’s fire and hot wins! This game is absolutely perfect for those players who prefer easy game mathematics and some juicy and fruitilicous wins.

Lucky Streak 2 slot

 

 

Realistic Games is offering players the chance to explore the enchanted forest with its exciting new slot, Spin Dizzy. Filled with woodland magic including toadstools, pots of gold, and four-leaf clovers, the game promises to keep players spellbound with its mysterious features.

Realistic Games Spin Dizzy slot

 

 

Microgaming takes players to a world filled with magic and enchanted riches with Book of Oz slot! Brimming with fantasy, magic and adventure, the game welcomes players into a world filled with enchanted riches. Featuring Wilds, Scatters, Free Spins and Re-Spins, the fantasy themed slot encompasses whimsical art and captivating symbols. “We are extremely excited to release Book of Oz, our fifth game this year under the Triple Edge Studios brand. This has been the most fun we’ve had developing a game and the Re-spin feature is a brilliantly fun addition.” – explained Brendan Walton, Design Lead at Triple Edge Studios.

Microgaming's Book of Oz

 

 

Blockchain casino platform provider FunFair Technologies, is setting sail on the high seas in search of pirate plunder with the release of its newest title Bounty on the High Seas. Bounty on the High Seas sits alongside FunFair’s growing portfolio of smart-contract based games, including Fate of Thrones and Treasures From the Crypto, offering the same high-spec animation, mechanics and audio that players have come to expect from a FunFair title.

 FunFair's Bounty on the High Seas

 

Bgaming will make slot players smile broadly with their slot release: Bob’s coffee shop! The idea of the slot totally inspired by the famous Amsterdam coffeeshops, if you have ever been to Amsterdam and it’s your favorite place in the world, Bob’s Coffee shop will definitely be the “love at first sight”. The game runs on an HTML framework, supports cryptocurrencies and fiat currencies.

Bgaming-Bob’s coffee shop

Source: Latest News at European Gaming Media

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Online sports betting legalized in Brazil

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In a significant development in South America, the continent’s largest country Brazil has passed a bill to legalize sports betting in the country. President of Brazil Michel Temer passed Bill MP 846/2018  to effect income redistribution from federal lotteries and legalize online sports betting.

The new bill will offer directions on how to divide the revenues from lotteries among the Culture, Sports and Security portfolios.

It should be noted that the bill observes a two-year term for the Ministry of Finance to regulate the conditions needed for the exploitation of online sports betting through licenses, and estimates that the annual collection reaches USD 255M for Public Safety, USD 161M for Sports and USD 113M for Culture.

For several analysts, the approval of this law represents a great victory for the sector and a possible first step for the regulation of all types of games of chance. Currently, two projects are waiting to be analyzed by Congress; although the new authorities headed by the elect president Jair Bolsonaro do not seem to be particularly predisposed to a wider opening of the game in the country.

Source: Latest News at European Gaming Media

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GAN plc: New Jersey’s online gambling revenue rises in November

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GAN plc, an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, updated the market following the publication on December 12, 2018 by the New Jerseys Division of Gaming Enforcement (DGE) of Internet gaming and Internet sports betting financial information for the calendar month of November 2018 in New Jersey.

According to the latest financial report of the New Jersey’s Division of Gaming Enforcement,  online gaming win for November in was $26.9 million in November, which represents a 30.7% hike year-on-year.

The total revenue from internet sports wagering was about $238.6 million for the month of November 2018, a rise of 36.8% from from the previous month.

Sports wagering gross revenue was $21.2 million, $11.7 million more than the previous month’s revenue.

GAN is a leading business-to-business (B2B) supplier of internet gambling software-as-a-service solutions (SaaS) to the US land-based casino industry. The Company has developed a proprietary internet gambling enterprise software system, GameSTACK„¢, which it licenses principally to land-based US casino operators as a turnkey technology solution for regulated real-money internet gambling, encompassing internet gaming, internet sports gaming and virtual Simulated Gaming.

Source: Latest News at European Gaming Media

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