Nektan boosted by revenue growth in Q3

Nektan has reported a 44.8% year-on-year increase in net gaming revenue for the three months to March 31, 2018.

Net gaming revenue for the third quarter came in at £5.1m (€5.9m/$7.2m), up from a restated amount of £3.5m in the corresponding period last year.

Cash wagering was also up 43.8% year-on-year from £99m to £142.4m in the period.

However, the number of first-time depositors at Nektan dropped 5.4% from 38,424 in Q3 of 2016 to 36,359 in the most recent quarter.

Nektan put this decline down to its ongoing focus on “the quality of the player and the spend”.

Gary Shaw, interim chief executive of Nektan, said: “Our results clearly demonstrate Nektan’s growing commercial and operational strength throughout international markets.

“The significant increase in net gaming revenues and cash wagering from our European white label business represents continuing growth momentum.

“This growth, at the same time as launching into new markets, underlines Nektan’s strength of management and technical capabilities.

“Nektan is becoming one of the market leaders in both mature and emerging markets for our sector and, as the market expands over the next year and beyond, our technology will become even more sought after.

“We remain confident about our growth strategy and look forward to announcing further encouraging updates over the coming months.”

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