Nektan posts revenue growth in Q2

Nektan has reported a 41.6% year-on-year rise in net gaming revenue (NGR) for the three months to December 31.

NGR during the second quarter came in at £4.7m (€5.3m/$6.4m), up from £3.3m in the corresponding period last year and an increase of 21.9% on the £3.9m generated in Q1 of the 2018 financial year.

First-time depositors climbed 4.8% year-on-year to 36,907, but this was down on the 40,148 recorded in Q1.

Elsewhere, cash wagering in Q2 amounted to £127.8m, up 19.8% on the same quarter last year and 0.8% on the opening three months of the current year.

Gary Shaw, interim chief executive at Nektan, said: “Our core European business continued to progress as expected in Q2 FY18 with a number of further launches planned in Q3 FY18. Our strategy to move into B2B is paying off with initial revenue generated by the company.

“We look forward to announcing further positive updates across Nektan’s business over the next few months, including on our platform deal with Tyche and our US business.”

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