Nektan Q3 revenues up 45% on customer spend focus
Supplier also reported a drop in first time deposits following a targeted strategy to increase spending for frequent customers
Supplier Nektan this morning reported a 44.8% rise in net gaming revenue to £5.1m in a trading update for Q3 of FY18.
Despite the strong uptick, the UK-based firm saw first time deposits drop 5.4% following a targeted focus on the quality and increase in spending for its frequent users.
The amount of cash wagered was up 43.8% on the previous year as a result.
The statement said Nektan’s B2B business generated £83,000 in revenue during the period as a result of new commercial partnerships.
Five additional Asia-facing deals are set to go live before the end of the financial year.
Gary Shaw, interim CEO for Nektan, said the increase in revenues and cash wagering from its European white label business represented continued growth momentum.
“This growth, at the same time as launching into new markets, underlines Nektan’s strength of management and technical capabilities,” Shaw added.
“I am particularly pleased with our ability to expand, deploy and support in multiple geographic markets during this period from our stable, centralised cost base, delivering incremental revenue growth to the Group.”