Nektan Financials Rise on Asian Demand

Internet betting group Nektan has posted their 2018 fiscal results, with the company noting strong Asian demand for their products as contributing to a 48.1% surge in net gaming revenues.

Key financial indicators for the year ending June 30th, 2018 were:

  • Net gaming revenues of £19.4 million, up from £13.1 million last year
  • Cash wagering up 43.4% to £559.8 million
  • First time depositors up 20.4% to 156,703

During the last quarter of the year net gaming revenues amounted to £5.7 million, up 36.7% from last year. Cash wagering was up by 34%, reaching £162.9 million. Four new gaming partners were signed during the period, and they have released 13 new titles.

The company says that their revenues were strong related to a growing Asian market, which has been adopting the Nektan software suite for their products. The company forecasts continued strong performance in the market for the future, which gives them a positive outlook moving forward.

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bgsharpe
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13 July 2018 - 3:19pm
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Yeah obviously Nektan doing more than well in Asia and this is when their main market is really and when we know it's still a growing area in terms of online gambling that should be a great news for the future for them I believe.