During the second quarter of the year, NYX saw revenues grow by 230 percent year-on-year, as well as completing two major acquisitions in the UK.
[dropcap]G[/dropcap]aming solutions supplier NYX has said it will focus on creating “sustainable revenue” and integrating its newly acquired businesses after a successful Q2 that saw the company’s profits soar.
In the three months ended 30 June 2016, NYX posted total revenues of CA$35.2m (€24.14m) – an increase of 230 percent year-on-year. Excluding the high-profile acquisitions of Betdigital and OpenBet, organic revenues grew by 28 percent to CA$13.7m (€9.4m) against the same period in 2015.
Profit also saw an upswing in the second quarter, as NYX recorded a gross operating profit of CA$30.7m (€21m); more than 238 percent higher than Q2 2015.
The period was marked by the acquisition of sports betting solutions supplier OpenBet for a total consideration of £270m (€316.8m), financed in part by convertible preference shares from William Hill and SkyBet.
The acquisition is set to give NYX a better foothold both in European jurisdictions and in the sports betting side of the industry; an area that online casino supplier NYX is less known for.
With the closing of the OpenBet acquisition, we move our focus from acquisitions to integration of our business operations and delivery of operational leverage.
In May this year, NYX also acquired Betdigital, a UK based supplier of gaming content and platforms, for a maximum consideration of £24.5m (€28.74m).
This acquisition has provided NYX with a game development platform and studio that caters to the UK markets, with a speciality in multi-channel solutions for the retail sector.
In addition to the firm’s M&A activities, NYX continued to see a “strong demand” for both its Open Gaming System (OGS) and Open Platform System (OPS) in the second quarter, with the company signing 11 new agreements with Sisal, Pala Interactive, Rush Street Gaming, Starcasino, Solverde, and Luckia.
Meanwhile, the Open Gaming System was successfully launched across 21 new client sites, while the firm’s content studios released 26 new games.
“We are pleased with the progress that we have delivered in Q2,” NYX CEO Matt Davey said in a statement.
“With the closing of the OpenBet acquisition, we move our focus from acquisitions to integration of our business operations and delivery of operational leverage. We look forward to continuing to strengthen our business model and create reoccurring, sustainable revenue over the long-term across all products for the benefit of our customers and shareholders.”
