Entering a new financial year, London AIM-listed mobile gambling operator and systems supplier Nektan Plc has posted a strong Q1 2018 performance (period ending 30 September).
Driven by new product inventory and the continued growth of its European gaming brands, Nektan would report a double in period cash wagers to £126 million (Q1 2017:£56 million).
The ‘mobile-first’ gambling firm, noted positive uptake and consumer engagement with its ‘Rapid Games’ mobile gaming solution during the period, which saw its brand portfolio report + 40,000 first time depositors.
Increased player activity combined with delivery of five new brands during Q1 2018, would see Nektan governance declare a period Net Gaming Revenue of £3.9 million, up 88% on corresponding Q1 2017’s £2.1 million.
Nektan governance continues to expand the firm’s international footprint, announcing that its soon to launch Nektan Evolve technology will be utilised to deliver a mobile casino games platform in up to 23 countries with the business partner responsible for B2B localised licensing
Gary Shaw, Interim Chief Executive Officer of Nektan, said: “Our core European business continued to progress in Q1 FY18 as expected. The proposed launch of new commercial partners during the current quarter will see that growth continuing. Our strategy to leverage our core technology asset Evolve into geographically diverse markets through platform licensing deals will see the business develop into one of the first gaming technology businesses with its platform live across three major continents. I am particularly pleased with the progress being made in the US where our investment positions Nektan as one of the first movers in mobile casino gaming.”