Latest quarterly shows revenues up 98 percent y-o-y
The international online gambling group NYX Gaming continues to expand, with its Q1-2015 numbers just published showing revenues up an impressive 98 percent year-on-year, driven strongly by social product operations, a larger customer base and revenues from the recently acquired Ongame poker network.
Highlights of the report included:
* Overall revenues up 98 percent to $9.9 million;
* Social gaming product revenues up 126.7 percent to $1.6 million;
* Gross profit increased to $8.8 million (Q1-2014: $4.3 million);
* Post the reporting period, NYX inked a share purchase agreement to acquire Amaya (Alberta) Inc., formerly Chartwell Technology Inc., and Cryptologic Limited, for $150 million. It is anticipated that the deal will boost the group's games inventory from 300 games to 650 offerings;
* Also post-reporting period, NYX acquired Game360 Limited, expanding its international presence to Italy;
Chief executive officer Matt Davey commented:
"I am very pleased to report that in our first full quarter of 2015, we have been able to carry forward our growth momentum from last year resulting in a strong start to 2015.
"With our proven abilities to identify accretive opportunities, I am confident that our track record of operational and financial success will continue. With our experienced management team, dedicated employees and supportive shareholders we are able to position ourselves for future growth."
The NYX group now employs 130 people across offices in the UK, USA and Sweden.
Online Casino News Courtesy of Infopowa