17 Dec 2014 07:00
17 December 2014
Nektan plc
('Nektan', 'the Company' or 'the Group')
US joint venture and European trading update
Following the announcement of the US joint venture agreement with Spin Games LLC on 17 November 2014 (the "JV"), Nektan, an international B2B mobile gaming platform provider, is pleased to announce that the JV has made further progress with additional contracts and letters of intent received from tribal and commercial operators in California and Nevada.
A total of eight operators are looking to implement the JV's solution in the first half of 2015 and the first co-branded 'Xtraspin' product is now live in a major California casino. Xtraspin is an additional bonus/jackpot mobile solution which can be fitted to licensed slot cabinets in the US markets. The Group expects to generate revenue in the first quarter of 2015 in both Nevada and California.
In Europe, real money gaming cash stakes grew by more than eight times in the quarter to September 2014 versus the previous quarter. Cash stakes are currently on track to grow substantially quarter on quarter in the three months ending December 2014.
Since its admission to AIM on 3 November, the Company has gone live with an additional two real money gaming partners including City A.M. and has also launched its first white label freemium bingo partner.
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Enquiries:
Nektan Gary Shaw, Executive Chairman | Tel: Via Hudson Sandler +44 (0)20 7796 4133 |
Panmure Gordon (Nominated Adviser and Corporate Broker) Corporate Finance: Andrew Godber / Atholl Tweedie / Duncan Monteith Corporate Broking: Charles Leigh-Pemberton | Tel: +44 (0)20 7886 2500 |
Hudson Sandler (Financial PR) Nick Lyon/ Alex Brennan | Tel: +44 (0)20 7796 4133 |
About Nektan
Nektan is an international B2B mobile gaming platform provider. It is a developer and operator of mobile games in the regulated, interactive RMG and freemium gaming space, delivering white label implementations to large commercial organisations that have established online audiences.
Formed in 2011, Nektan operates under a full Remote Gambling Licence issued by the Gibraltar Licensing Authority and maintains sales and customer support operations in its two primary geographical targets, Europe and North America, from offices in Gibraltar, London and Las Vegas.
The Group has developed a full end-to-end platform, Evolve, which is purely focussed on supporting mobile gaming. Nektan's white label platform simplifies the route to mobile gaming revenues for its target commercial entities: managing the full customer experience and back-office operations, allowing the partner solely to focus on marketing the product to its consumers.
www.nektan.com
NKTN.L (NKTN)