Igaming platform Nektan has announced record quarterly KPI growth for Q2 2019 (period ending 31 December), driven by a ‘significant increase in the number of unique players on Nektan B2B platforms, helped by four new partners going live’.
The firm’s total gaming revenue increased 28.4% to £8.6 million, up from £6.7 million in the previous quarter. Nektan’s technology also generated over £222.5m in cash wagers, up from the last quarter’s £182.4 million, representing growth of 22%.
On current projections, Nektan’s current growth trajectory should result in the firm achieving its ‘European EBITDA break-even’ target by the end of FY19 (30 June 2019).
The trading update sees Lucy Buckley make her first public announcement as Chief Executive, having officially joined the London-AIM enterprise on 3 December. She wrote: “This record-breaking quarter for the Group has not only highlighted that we have made significant enhancements to our technology, but we are becoming a firmly established business that is on track to be profitable in our core European business by the end of this financial year ending 30 June 2019.
“Our BetVictor contract win with this tier-one operator is a landmark for Nektan and we are proud to have them believe in the breadth and depth of our offering. The B2B figures continue to demonstrate the huge potential that that division has in fuelling our growth going forward.
“Another significant highlight from the end of the last quarter was the announcement of potential external investment in our US business. Once completed, we believe these developments will put Nektan in its strongest and most secure position to date.”
The report comes just days after Nektan’s end-of-year report which saw marketing, partner and affiliate costs rise 31.8% to £9.5 million.
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