NYX Q1 2017 Profits Skyrocket by Almost 200%
Exciting times come ahead for gaming operator NYX with the Gaming Group reporting staggering financial numbers for the first quarter of 2017.
Only a week after the company announced integration of Cash Out option at Pari Mutuel Urbain (PMU), and mere ten days following Sky Bet contract extension, NYX Gaming Group has decided to share news of a 199.8% increase in profit over the first three months this year.
The migration of Authentic Roulette as another stepping stone for NYX’s Open Gaming System(OGS), must have had its fair share in the significant numbers boost as well, although the financial influence of these last couple of milestone moves from are expected to leave their full mark in months to come.
NYX Gaming Group’s profit soared to CA$58.9 million, compared to CA$16.8 million in the first quarter of the previous yeat.
What is more, adjusted EBITDA was poushed up by 250% increase year-on-year, flying from CA$4.7 million to CA$16.8.
“With our new operating model in place, we’re pleased to report growth in revenue and adjusted EBITDA.”, Chief executive of NYX, Matt Davey, stated.
Acquisitions of OpenBet and Betdigital in May 2016 have been accredited with the fantastic results, as well as increased revenues from existing clients’ base.
“Our customer development pipeline remains strong, and we are focused on profitable growth through our product led strategy with targeted R&D investment in sportsbook, gaming, and content technologies.”, Matt Davey added.
NYX Gaming group offers a complete range of industry leading products and flexible gaming solutions to some of the largest lotteries, casinos and gaming operators across the industry.
Boasting a base of well over 200 customers, NYX Gaming Group has one of the broadest distribution bases around, whereas its award-winning gaming systems transformed the company into industry’s market leader.