Nektan PLC has released its audited results for the fiscal year ending June 2017, and by all accounts things are sunnier than expected for the gaming solutions firm. Every single key performance indicator showed improvement on the previous year, with losses noted as reduced and revenue growth up a massive 124%. Net gaming revenue showed a similar rise. First time depositors were up from under 50,000 to over 130,000, and operating losses shrunk from over £8 million to £4.6 million.
The Gibraltar-based firm launched a new initiative back in November, a business-to-business platform called Evolve Lite. This aims to provide access to a huge range of HTML5 digital casino content, including slots, keno and video poker. This new revenue source is expected to bring substantial growth for Nektan in 2018. They are reportedly working on their language leverage in order to complete a major rollout of the service in the months ahead.
Nektan interim CEO Gary Shaw expressed positivity for the future, suggesting that their expectation is to go live with a rollout of its B2B services in several key regions across the globe during 2018, in particular the US, Europe and Asia. Mr. Shaw took over the role of CEO when his predecessor, Leigh Nissim, resigned in June, due to plans to take up a position in another company later in the year. He also stated that the company plans to be actively involved with the mobile in-venue casino system commonly operative in the US.
