Nektan Financials Rise in Latest Quarter

Online gaming firm Nektan announced that their revenues set a record during the latest quarter of 2018, hitting £8.6 million for the period.

Key financial indicators for the quarter ending December 31st, 2018 were:

  • Cash wagers up 22%
  • Revenues of £8.6 million, up 28.4% from the previous period
  • Net Gaming Revenues up 31.9% to £6.2 million for B2C white label solutions
  • Amounts wagered hit £222.5 million across all platforms, up 74.1% from last year
  • The company also entered advanced negotiations to sell 57.5% of its U.S.-based business to an undisclosed party for £2 million

Speaking abotu the performance Nektan CEO Lucy Buckley said, "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."

"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."

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bgsharpe
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8 January 2019 - 7:57pm
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The company also entered advanced negotiations to sell 57.5% of its U.S.-based business to an undisclosed party for £2 million

Obviously everything going just great for Nektan these days but that doesn't seems to be a huge selling price...I guess their US business is not that highly valued after all.

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