Nektan gaming sales soar on 'significant' rise in unique players

Online gambling and casino operator Nektan saw gaming revenues soar during the second quarter of its trading year as more and more players adopted its business-to-business platform.

Nektan revealed total gaming revenues had risen 83% year-on-year to £8.6m - a marked improvement on the 28.4% growth recorded in the first quarter - and also saw a 74.1% increase in cash wagering to £222.5m.

The AIM-listed firm's historic growth was the result of “a significant increase” in the number of unique players on its business-to-business platform, which itself was boosted by four new partners going live.

On the back of the strong second quarter, Nektan anticipates its growth trajectory should result in its European EBITDA coming in at break-even for 2019.

Chief executive Lucy Buckley said the firm was now "a firmly established business" which was "on track to be profitable in our core European business" by the end of the year.

Nektan also revealed that it was in "advanced discussions" to sell a 57.5% stake in its US subsidiary Respin, which was set to go live in February.

As of 1020 GMT, Nektan shares had picked up 3.57% to 14.50p.