NYX looks to build on Q2 momentum

NYX looks to build on Q2 momentum

Thursday, September 14, 2017 Posted by James Walker
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Revenues for the group were up more than 70% in the second quarter

NYX Gaming Group is looking to build upon the momentum seen in the second quarter by focusing on technological innovations for its customers, according to CEO Matt Davey.

In the three months to June 30, Las Vegas-based NYX, a leading digital gaming software supplier for interactive, social and mobile gaming worldwide, reported revenues of C$61 million, up 73.3% on the prior-year period.

The hike was primarily attributed to the results of operations from OpenBet, acquired in May 2016, and new customer launches and development projects.

“The OpenBet acquisition has brought significant growth to the company’s online sportsbook product offerings and presence in the online gaming industry,” NYX said.

During the second quarter, the group signed 18 new agreements for its award-winning Open Gaming System (OGS) and Open Platform System (OPS) solutions, with the company successfully launching OGS content across 13 new client sites, including Soft Swiss, Jaxx, Sekabet, Casino Gran Madrid, and Goldbet.

NYX also launched 21 new slot games on the OGS platform, including games with PokerStars NJ, a Stars Group brand in New Jersey, US. This extends the company’s long-standing partnership with The Stars Group as leaders in digital gaming in regulated territories.

“We saw positive momentum in the second quarter with sequential improvement in revenue, adjusted EBITDA, and adjusted EBITDA margin from the prior quarter,” said CEO Matt Davey.

“Our development pipeline remains strong and we continue to sign new customers at a steady rate, as our sportsbook, gaming, and content offerings are resonating with customers and driving scale and operating leverage in our business.”

Discussing the company’s top priorities for the remainder of 2017, Davey told TotallyGaming.com: “The goal for the remainder of this year is to continue to build upon the momentum that we have gained in the first half.

“With our major focus on technology innovation for our customers, and growing our key talent within our organisation.”

Totally Gaming says: After reporting a more than 70% growth in second-quarter revenues, the group’s development pipeline remains strong. At the close of Q2, commitments were still held with 36 customers that had not yet launched, and as of August 15, NYX had signed 16 new deals – a clear indication that this momentum has continued in the July to September trading period.

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