Another Strong Quarter For Nyx Gaming

ANOTHER STRONG QUARTER FOR NYX GAMING

26th May, 2016 at 15:40:01
Source: http://www.azonlinecasinos.com

Key operating parameters all performing well.

NYX Gaming Group Limited has released its financial and operating results for the first quarter ended March 31, 2016, highlighting a number of key advances:

* Revenue of Cdn$18.8 million or 88.7% growth year-over-year;

* Organic Revenue excluding acquisitions of Cdn$13.1 million or 31.8% growth year-over-year;

* Royalty and License Revenue of Cdn$16.5 million;

* Gross Profit of Cdn$16.2 million;

* Adjusted EBITDA of Cdn$4.8 million;

* Signed 12 new OGS contracts, 1 letter of intent for OPS;

* Launched OGS content across 4 new client sites;

* Released 8 new games

"We are very proud that Q1 not only marks another strong quarter but is also a confirmation of our long-term strategy to be the leading provider of digital gaming content and technology worldwide. Through our highly successful M&A activity, we have set in place the building blocks for our global business, and are now focused on realizing our full potential for the benefit of our customers and shareholders," said CEO Matt Davey in his report to shareholders.

Key events included:

* Acquisition of OP Topco (Openbet) for 270 million - a highly transformative deal that completes NYX's portfolio of products and services, and solidifies NYX as a provider of B2B betting and gaming solutions in the global regulated gaming industry.

* The company signed 12 new agreements for its Open Gaming System and Open Platform System, including deals with PaddyPower, Marathonbet, and Telecinco.

* NYX signed a letter of intent with Netherlandse Staatsloterij/De Lotto to execute an agreement for the integration of digital gaming content and player account management via NYX's OPS.

* The company also successfully launched its OGS across four new client sites, in the regulated markets of Latvia, Belgium, and Denmark, whilst in Italy its subsidiary Game360 launched Sportsbook (IT) with Stanleybet and its bespoke product across two leading sites

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