Nektan flags US market entry as revenue grows 65 percent

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Nektan has confirmed it will enter the US market before the end of this year as part of a Q318 trading update which revealed net gaming revenue of $8.3m.

The figure marks a 64.6 year on year rise for the gambling software provider, and comes ahead of several partnership agreements to enter the burgeoning US sports betting market.

“Our North America division is making progress and is due to go live shortly with a tier-one operator,” said interim CEO Gary Shaw. “We are positioned to take advantage of the opening up of the sector in the United States with a pipeline of upcoming opportunities.”

Such opportunities include “expressions of interest to invest directly into the US business unit, with the objective of reducing the cash burden on Nektan within the next two quarters.”

The report also outlined a 40.7 percent increase in cash wagering to $234.8m year-on-year, despite a 2.9 decline in first-time depositors, which the firm stated was a result of “maximising player lifetime values,” for future consideration.

The deals follow a May agreement between Nektan and Metric Gaming, to integrate the latter’s Race and Sports betting products into the Evolve platform, ready for a US launch.


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