Share Prices & Company Research

Market News

05 Apr 2019 | 07:36

Nektan third-quarter revenue rises 5.9% on B2B growth

Gambling company technology provider Nektan posted a 5.9% rise in third-quarter revenue on-year, bolstered by its business-to-business unit.

Revenue in the business-to-business segment for the three months through December rose to £350k, up from £83k on year.

Business-to-customer gaming revenue was flat at £5.1m.

Nekten said business-to-customer revenue was expected to improve in the fourth quarter, due to the continued growth and breadth of its casino network.

'Developments on the sale of our majority stake in the US division Respin are progressing and we expect to conclude this shortly and before 30 April 2019,' chief executive Lucy Buckley said.

'This transaction will mean us maintaining a material stake in the emerging US market while removing the cash burn of this business.'

'As a result of that deal, the other inter-conditional transactions, namely the fund raising and CLN conversion, are due to complete as well, putting Nektan in a very strong position to capitalise on our global growth prospects.'

Story provided by
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.