Internet betting firm NYX Gaming has released its second quarter and first half financial results, noting positive financials despite being pulled down a bit by weak poker results.
Key financial indicators for the second quarter were:
Revenues in Q2-2015 were up 44.5 percent year-on-year at $10,7 million;
Gross profit rose 40.2 percent to $9.1 million;
Net income rose a record 769 percent from $1.6 million in the preceding year to $13.9 million in Q2-2015;
Adjusted EBITDA declined from $3 million in the same period last year to a loss of $553,000 in Q2-2015, mainly due to poor poker performance.
Half year financials for the firm are:
H1-2015 revenue up just over 66 percent at $20.6 million;
Gross profit up 66 percent to $17.9 million;
Net income rose to a record level of $8.3 million;
Adjusted EBITDA was down, with a loss of $1 million (H1-2014: $4.4 million).
Commenting on his company's performance NYX CEO Matthew Davey said, "This quarter, we have generated record revenues in our core business driven by the strong organic performance of our gaming products and are well advanced in our realisation of meaningful cost synergies from our recent acquisition of Chartwell and CryptoLogic."