OpenBet drives triple-digit revenue growth for NYX
Acquisitions and new client wins also help supplier report a 209% rise in Q3 EBITDA
NYX Gaming Group has reported a 309% year-on-year rise in Q3 revenues driven by organic growth and its OpenBet acquisition.
The Toronto-listed supplier saw its revenues increase to CAD$54.4m (£32.4m) for the period ended 30 September 2016, up from $13.3m (£7.9m) in the same period last year.
EBITDA rose by 209% to $14.5m (£8m) compared to Q3 2015, while gross profit amounted to $49.1m (£29.3m) â a 342% rise on last yearâs total of $11.1m (£6.6m).
NYX attributed the growth in revenues and profits to new customer launches, the acquisition of OpenBet and increased gaming revenues from existing customers.
âNYX continues to deliver strong organic growth across all product verticals,â NYX CEO Matt Davey said.
âThrough our M&A activity, we have built the foundations of a world-class digital gaming software supplier that focuses on regulated markets.
During the quarter, Sky Bet made its international debut in Italy with the launch of an OpenBet-powered online sportsbook.
NYX secured six new agreements for its Open Gaming System (OGS) and Open Gaming Platform (OPS) with Topsport, ComeOn, Televisa, and OlyBet.
It also successfully launched its OGS content across eight new client sites including Goalbet, TonyBet, and Sverige Kronan.
In addition, NYX content studios released 18 new games during the three-month period.
âThe team has made significant progress against a number of key objectives that position us at the forefront of the industry opportunity,â added Davey.
âWe are entering phase two of our journey now to unlock the true value of our operations and we continue to see market-leading demand for our products and services,â concluded Davey.