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Nektan has reported an increase of a little over 48 per cent in net gaming revenue, from £13.1m to £19.4m, in its business update for the financial year (FY) ending June 30.

Boosted by a strong fourth quarter (Q4) which increased 10.9 per cent to £5.7m, a revenue rise of 36.7 per cent was also highlighted when contrasted to the same period in the previous year.

Cash wagering also saw significant rises of 43.4 per cent year-on-year to a fraction below £660m, with Q4’s £162.9m representing a 14.3 per cent rise on Q3’s £142.4m.

First time depositors grew 20.4 per cent for the full year and 18.5 per cent quarter to quarter, reaching 156,703 and 43,289 respectively.

Launching 13 new sites during Q4, the international gaming software and services provider also gained four new partners, taking the group’s operations to 113 brands across 55 partners.

Stressing the launch of a number of new partners in the UK and on a wider global scale that are set to come, Nektan also addressed its B2B operations which it expects to move towards EBITDA break-even in Europe during FY2019.

Revenue generated from its B2B business also rose from £83,000 to £105,000, with 12 completed deals globally an increase on the nine recorded in Q3.

An increased US presence could also be on the cards, as the company reveals successful growth of its Rapid Games subsidiary is to see a second Northern Californian on-premises mobile gaming partner go live this month.

Its full service horse racing and sports betting, provided alongside Metric Gaming, also continues to drive interest across new markets, with a further overall update set to be provided in due course as the firm reviews its strategic US options.

Gary Shaw, Interim Chief Executive Officer of Nektan, said: “We are delighted with Nektan’s continuing revenue growth, increasing 48% in the year to 30 June 2018. We expect to continue to build on this strong momentum in the year ahead.

“We see the business continuing to strengthen further and growth opportunities within both existing markets and, most encouragingly, in the rapidly accelerating demand for our technology from international partners, especially in Asia. In addition, with our licensed US mobile gaming platform, we are very well placed to take advantage of the huge opportunity presented by the opening up of the sector in the United States.

“Nektan is currently live in 37 countries across Europe, Asia and North America.  We have developed from a UK-centric business into a global technology company, delivering to our partners operational gaming capability with speed and flexibility across multiple markets.

“We look forward to announcing further progress in the coming months.”