Nektan reveals widespread growth as revenue climbs in Q3

Nektan has cited the impact of “significant” growth across all key performance indicators in Europe as one the main drivers behind a hike in revenue during the three months to March 31, 2016.

Revenue in the third quarter totalled £2.3 million (€2.9 million/$3.3 million), up from just £550,000 in the opening three months of the financial year and a jump on the £1.1 million posted in the second quarter.

Total cash bets amounted to £56.2 million, more than the total collected in both the first and second quarter combined, while total cash deposits came in at £3.8 million.

Nektan, which signed 11 new partners during the three-month period, also said that the number of first-time depositors increased to 15,628.

Gary Shaw, interim chief executive of Nektan, said: “We are delivering significant growth and seeing strong momentum building across all key performance indicators in Europe, whilst we continue to make good progress on further reducing the cost base of the business.”

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