Nektan Posts Big Revenue IncreasesHarry Coulter | 15 Jan 2018
Mobile gaming software expert Nektan has had a few successful consecutive quarters to date, and now, new data from the firm has further cemented this impressive trend of growth. Nektan recently revealed its second quarter financial results for 2018, noting that its overall revenues grew by a whopping 41.6% over the course of the past twelve months alone.
The firm’s financial report revealed growth across many of its key fiscal verticals, including its overall revenues and the number of new players signing up to play on its iGaming platforms. Furthermore, experts are predicting this growth spurt to continue well into the new year as the developer inks new content deals across the globe.
Key Financial Indicators Explored
Nektan’s key financial indicators for the quarter ended on December 31, 2017 included net gaming revenues far exceeding £4.7 million – a significant increase of 21.9% over the £3.3 million posted during the first quarter of last year.
The developer’s number of new depositing accounts (ie. new real money players) at its casinos also grew by 4.8%, climbing to a total of 36,907 for the period in review. Cash wagering was another indicator to grow for the iGaming firm, jumping 19.8% to £127.8 million during the quarter.
CEO Comments On Positive Growth
Commenting on his firm’s financial results, Interim CEO of Nektan Gary Shaw noted that Nektan’s core European business operations have continued to grow as predicted in the second quarter of 2018. The executive revealed that his company also has multiple new mobile launches planned for the third quarter of this year, although the exact nature of these launches has yet to be discussed.
Shaw also told local media that Nektan’s strategy to move into the realm of B2B gaming is now paying off through initial revenues generated by the firm. Now, the developer’s strategy relies on the continuous success of this move, which experts are predicting to be highly likely based on its superior Q2 growth rates.
Shaw concluded by saying that Nektan is looking forward to revealing further positive developments across its business divisions over the coming months. He revealed that such news could soon be announced regarding its US business operations and its platform deal with Tyche; but until then, the firm will be hard at work creating new online casino software and products for its thousands of dedicated players around the world.