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NEKTAN SELLS OFF THREE BRAND ASSETS
22nd August, 2016 at 15:11:38
But will continue operating brands as white labels for a further five years.
Mobile gaming provider Nektan has partnered Buckingham HMB Ltd for the sale of three of its gaming brands for an initial £ 1.75 million linked to a simultaneous white label licensing agreement that will see it continue to operate the brands for a five-year term on its Evolve platform for a monthly royalty.
A further £ 200,000 is expected to follow shortly after the transfer of Nektan's in-house developed Chomp Casino, Spin Princess and Sapphire Rooms web domain and customer database assets, the proceeds of which will be used to develop its business in Europe and the US, through its Respin Joint Venture.
As with other white label partners, Nektan will continue to report net gaming revenue from the three brands within its own net gaming revenue figures, a company statement said.
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