Increase in deposits set to boost Nektan
Provider says European business is on the up ahead of next month's full year results
Mobile casino provider Nektan is seeing “strong and consistent” growth in its European business, with a 70% growth in deposit amounts so far this year, the company said in a trading update this morning.
The firm said net gaming revenues for its real-money gaming European business in August had surpassed total revenues for the entire previous quarter, helped by a rise in first time depositors and the 70% increase in deposit amounts in August compared with June.
“I am encouraged by the strong month-on-month growth we are delivering in Europe across all our key performance indicators in our real money mobile gaming business,” Gary Shaw, Nektan’s executive chairman, said.
With full financial year results expected in mid-October, Nektan also used the trading update to focus on its US land-based casino joint venture with Spin Games, which it said continues to see “considerable momentum”.
In a trading update in July, Nektan said it was on track to post a £5.5m EBITDA loss for FY2015, but added the losses would be “better than expected” and that the firm’s strategy in both Europe and the US remained unchanged.
London-listed Nektan’s share price was up 0.5p to 153p after early morning trading.