Gaming Nation chief ‘pleased’ with progress in 2016

Scott Secord, president and chief executive of Gaming Nation, has praised the company’s performance in 2016, after it announced record growth across key financials.

Revenue from continuing operations in the 12 months to December 31, 2016, amounted to $11 million (€10.2 million), which was a significant increase on the $6.5 million posted at the end of 2015.

Gross profit climbed from $5.5 million to $9.1 million, while full-year earnings before interest, tax, depreciation and amortisation (EBITDA) came in at just under $2.1 million.

Net loss was cut from $15.7 million in 2015 to $9.4 million in the most recent 12 months, while Gaming Nation ended the year with assets totalling $63.1 million and total equity of $54.6 million.

In the final quarter of the year, consolidated revenue amounted to $3.6 million, while adjusted EBITDA came in at just over $1 million.

“During Q4, Gaming Nation continued the trend to strategically focus on two key sectors of operations; software solutions for stadiums as well as the Gaming Nation’s sports information content businesses,” Secord said.

“We are pleased with the results in the quarter and the progress during 2016.

“In 2017 we will remain committed to continuing to grow revenues and EBITDA across all our business lines while exploring strategic opportunities both in the form of partnerships or further acquisitions.”

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