Publishing its financial results for the three months to September 30, gaming technology company Nektan reported record quarterly revenues thanks to a 64.6 per cent jump, year on year.
Nektan, which delivers gaming content via its Evolve and E-Lite platforms, said in a statement that the quarter had delivered stronger than expected growth.
Net gaming revenue in the three-month period was £6.4m, up from £3.9m year on year, and a 12.6 per cent increase on the preceding quarter.
First-time depositors fell, however, down 2.9 per cent year on year to 38,891, a hefty 10 per cent from the preceding quarter.
The company said the drop in FTDs during the quarter is due to “an increasing focus on maximising player life-time values, which will improve profitability going forward”.
The platform now has more than 700 games from a total of 27 games providers, underlining the diversified nature of Nektan’s large gaming content portfolio.
Gary Shaw, interim chief executive officer of Nektan, said: “Since becoming a public company in 2014, Nektan has seen only one quarter-on-quarter decline in revenue, which was during this usually quieter period of activity in the same period last year, so we are very encouraged to see such a positive quarter and expect this success to continue.
“Given the past few quarters of continual expansion in content provision and our significant build-up of global partnerships, we are now within striking distance of our ambition to be the dominant provider of premium gaming content in the industry. We will continue to build our portfolio of content which, combined with speed of content delivery into partners’ live gaming sites globally, makes Nektan’s offering a very attractive proposition.
“We are adding more cutting-edge content and channelling this not only to more partners, but bigger partners too,” said Shaw.
“We are very confident that Nektan is in an excellent position to capitalise on the solid technological foundation we have built.”