NYX hails ‘transformational’ 2016 as key financial metrics rise
Matt Davey, chief executive of NYX Gaming Group, has paid tribute to the firm’s financial performance in the 12 months through to December 31, 2016, describing the year as “transformational” for the company.
Revenue came in at $163.7 million (€149.8 million), which represents a jump of 213% on 2015, and 46.8% when excluding the impact of the OpenBet, Chartwell and Cryptologic acquisitions.
Royalty and licence revenue hiked 105.4% year-on-year to $90.7 million, while gross profit totalled $144.2 million, or 88.1% of revenue compared to 85.6% last year.
In addition, Adjusted earnings before interest, tax, deprecation and amortisation (EBITDA) rocketed by 305.3% to $42.7 million.
“This was a transformational year for NYX; with the integration of OpenBet now substantially complete, we are ideally positioned as a leading provider of sportsbook, gaming technology, and NextGen content to the regulated gaming market,” Davey said.
“Since the beginning of 2017, our new operating model has been delivering an improved cost structure that, combined with our growth strategy, will result in increased operating leverage.”
The full-year results came after an impressive fourth quarter, during which NYX saw revenue increase 196.6% year-on-year to $54.5 million.
Gross profit totalled $48.1 million in the final quarter of 2016, while EBITDA was up 185.1% to $12.9 million.
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