• Delivers premium casino content to game operators
• B2B and BRC business arms
• E-Lite platform distributes cutting-edge content
What Nektan does
Using its proprietary technology, it delivers either a fully managed white label casino solution to its B2C partners or acts as a content distributor to its B2B partners.
The white label solution is delivered via its Evolve platform, while the E-Lite platform distributes cutting-edge content.
Both platforms leverage Nektan's market bonusing and business intelligence tools.
• On 17 April, the company completed the sale of a majority stake in US operation Respin. Nektan has sold 57.5% of Respin to Alternative Investment Partners Limited (AIP), a different buyer than originally planned, for £300,000 cash plus the provision of US$800,000 in working capital
• In a third quarter trading update on 5 April the firm reported revenues has risen 5.9% year-on-year. The performance was helped by a record revenue performance in its B2B division, which rose 75% to £350,000
• Nektan said it expects an improvement in trading for the final quarter of its current fiscal year
• In March, Nektan said it had signed up Mo Play, the betting partner of Manchester United football club, to its B2B E-lite platform, which provides gaming operators with more than 700 of the industry's most cutting-edge, mobile-ready HTML5 games content
Speaking to Proactive in May, Nektan’s chief executive Lucy Buckley said following a 43% reduction in the group’s debt commitments to £6.45mln it was now in a “strong position” with a “firm foundation to really accelerate” its international expansion.
She added that the sale of the group’s majority stake in its US business meant its would still be able to benefit from future revenue growth but Nektan was no longer funding the business and could focus on growing its “core” European and Asian businesses.
“Our focus for the rest of the year is profitability…really focus on that and reducing our debt. We have an established business model and established technology, we just need to increase the number of partners in our distribution”.
With shares trading at 11p as of 10 May, Nektan carries a market cap of £12.1mln.