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Nektan anticipates higher revenue in second half of the year

Fri, 01st Jul 2016 16:09

(ShareCast News) - Mobile real money gaming provider Nektan expects to have good growth in revenue in the second half of the financial year compared to the first.It anticipates net gaming revenue to grow in the six months ended 30 June to $4.2m from £1.6m.Total cash bets increased to £104.1m from £45.4m and first time depositors playing games increased by 77% to 30,997.Nektan launched 29 new partners in its networks the past year, with 110 new games added from providers such as IGT, NetEnt and SciGames.The company also launched a marketing service for its partners.In December the company reviewed its costs and subsequently reduced fixed costs to about £340,000 a month from £490,000.The AIM listed company said its losses before interest income and expenses, income tax, depreciation and amortisation (LBITDA) were within expectations and its joint venture with Respin, a US mobile technology developer, received regulatory approval for its Rapid Games product, a class II mobile in venue gaming solution.The company has cash outflows for quarterly payments of gaming revenue taxes and convertible loan note interest. Low earnings before interest, tax, depreciation and amortisation (EBITDA) reduced the company's cash levels, so Nekta said it is considering its financing options by either seeking new investors, debt finance or other financial support from key stakeholders, seeking a strategic partner or to realise value from its trading assets.Chairman Jim Wilkinson said: "The progress in the business this year is encouraging. Our focus on building the foundations for continued growth has been positive, with the Evolve 2 platform now established internationally and our business operations maturing as we expand. We plan to develop the business further across both Europe and the US as both mobile casino markets expand."Shares in Nektan were down 24.59% to 46p at 1653 BST.

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(Sharecast News) - Gaming technology platform and services provider Nektan has signed a contract and was now live with European gaming company BetVictor, it announced on Tuesday.

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Nektan Appoints Lucy Buckley As Chief Executive Officer

LONDON (Alliance News) -Gaming platform and services provider Nektan PLC said on Tuesday it has appointed Lucy Buckley as chief executive officer, effective from December 3.On her interim I

9 Oct 2018 08:30

Nektan appoints Lucy Buckley as new CEO

(Sharecast News) - International gaming technology outfit Nektan has appointed Lucy Buckley to its board to take on the role of chief executive officer following the departure of Leigh Nissim a year ago.

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Nektan nears positive earnings after record European revenue

(Sharecast News) - Gambling software provider Nektan saw its shares rise on Wednesday after recording record quarterly net gaming revenue driven by European operations.

3 Oct 2018 08:28

Nektan Shares Soar After "Record" First Quarter With Revenue Up 65%

LONDON (Alliance News) - Shares in Nektan PLC jumped on Wednesday after the gaming technology platform provider said it experienced a "record" first quarter with revenue up 65% on last a

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Nektan To Record 48% Jump In Gaming Revenue On Strong Momentum

LONDON (Alliance News) - Nektan PLC on Wednesday said continuation of strong trading momentum has resulted in a sharp increase in gaming revenue for 2018 financial year.For the year ended a

6 Feb 2017 14:02

Nektan moves to full ownership of Respin Inc

(ShareCast News) - International B2B gaming solutions and services provider Nektan has upped its ownership in Respin Inc to 100%, from 50%. Respin is a US-focused Class II mobile on-property mobile casino solution provider. Bringing its North American business (Respin) closer to the European divisi

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16 Jan 2017 11:22

Nektan appoints Patrick Sinclair as CFO

(ShareCast News) - International business-to-business gaming solutions and services provider Nektan announced the appointment of Patrick Sinclair as chief financial officer on Monday, with immediate effect. The AIM-traded company said Sinclair is a Chartered Accountant, having qualified with Pricewa

9 Jan 2017 09:00

Nektan unlocks next level of revenue in second quarter

(ShareCast News) - Nektan, the business-to-business (B2B) gaming solutions and services provider, played its way towards a 71% rise in net gaming revenue (NGR) to £3.6m in the three months ended 31 December 2016. First time depositors rose by 151% to 35,215, cash wagering was 62% higher at £106.7m a

22 Aug 2016 11:41

Nektan sells three gaming brands to Buckingham

(ShareCast News) - AIM-listed mobile gaming provider Nektan has agreed to sell three of its wholly-owned gaming brands to Buckingham for an initial £1.75m in cash, with a further £200,000 expected to follow shortly. The company will also enter into a five-year licensing agreement with the group for

4 Jul 2016 08:21

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