NYX Gaming Reports Excellent Q1 Results
NYX Gaming Group has had a busy quarter with the highlight been their acquisition of OpenBet in conjunction with William Hill. They announced their Q1 earnings for 2016 which showed an increase of 88.7% in total revenue to $18.8m compared to the $9.9m for the same period last year.
Highlights of the first quarter included Gross Profit of $16.2m and adjusted EBITDA of $4.8m. There were 12 new OGS contracts signed as well as 4 new clients who launched OGS content. In addition 8 new games were released.
CEO Matt Davey was delighted at their Q1 results and said,” We are very proud that Q1 not only marks another strong quarter but is also a confirmation of our long-term strategy to be the leading provider of digital gaming content and technology worldwide. Through our highly successful M&A activity, we have set in place the building blocks for our global business, and are now focused on realizing our full potential for the benefit of our customers and shareholders.”
No doubt the acquisition of OpenBet is seen as strategic to NYX’s future roadmap in which they see themselves as becoming the leading end-to-end solution for regulated gaming markets and B2B provider in the gaming industry.