Nektan Plc Extended Its Deal With BetVictor

  • May 30, 2019 BST
  • Team Kalkine
Nektan Plc Extended Its Deal With BetVictor

Nektan Plc (NKTN) is an online services and platform provider for the casino industry. The group delivers B2B gaming software and white label products internationally. The company was incorporated in 2014 and is headquartered at Gibraltar, the UK. Nektan is primarily focused to take maximum advantage of exploration in mobile gaming opportunities. The company’s key markets include Asia, the United States and Europe. The company is having strategic partnerships with many other companies to expand its portfolio which includes Kerching, Sun Play, Irish Spins, red spins, play UK, monster casino, mini mobile casino, Mayfaircasina.com, coin falls and touch mobile casino etc. In the year 2018, the company entered into a partnership, with BetVictor, Europe’s gaming company. Under the partnership, Nektan’s B2B global casino platform was integrated into BetVictor’s key casino brands.

Trading Update - Q3 Financial Year 2019 (£, million)

(Source: Quarterly Report, Company Website)

 

In the Q3 of the Financial Year 2019, the company’s revenue increased by 5.9 per cent to £5.4 million against £5.1 million in Q3 2018 whereas, revenue declined by 15.6 per cent against Q2 2019 data. The company’s future sales pipeline remained strong for B2B and B2C. The B2C gaming revenue (net) remained flat at £5.1 million in Q3 2019. The company’s B2B revenue was up by 72 per cent to £0.35 million in Q3 2019 versus £0.2 million in Q2 FY2019 and was up by 322 per cent against £83 thousand in Q3 FY2018. The company is presently having deals with 10 partners under its B2B business and will sign new deals with seven new partners which will start in Q4 FY2019. The company’s E-Lite platform signed a distribution deal with MoPlay of Addison Global. The total number of games available across B2C and B2B increased by 11 per cent to 834 versus 750 in Q2 FY19 and game providers surged by 41 per cent to 38 (Q2 FY2019: 27).

Share Price Performance

Daily Chart as at May-30-19, before the market close (Source: Thomson Reuters)

On May 30, 2019, Nektan Plc shares were trading at GBX 13.50 (at the time of writing before the market closed, at 11:04 AM GMT), same as the previous day closing price. Stock's 52 weeks High and Low is GBX 27.00/GBX 10.00. At the time of writing, the share was trading 50 per cent lower than the 52w High and 35 per cent higher than the 52w low. Stock's average traded volume for 5 days was 28,329.00; 30 days - 49,490.13 and 90 days – 40,106.93. The average traded volume for 5 days was 42.76 per cent down as compared to 30 days average traded volume. The company was having around £14.95 million of outstanding market capitalisation.

On 28th May 2019, Nektan Plc announced the extension of its existing partnership with BetVictor. BetVictor is a leading gambling provider global. As per the partnership, the Nektan will develop exclusive casino content via its Open Remote Game Server (RGS) for BetVictor. The company will create branded slot games that will be available to BetVictor players. The company will collaborate with ReelFeel gaming to develop the game.

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