Online gaming and technology provider NYX Gaming Group has announced the extension of a poker distribution agreement with Scientific Games after posting record quarterly revenue in the three months through to March 31.
Under the renewal with Scientific Games, the gaming solutions provider will distribute the networked NYX Poker offering in free-to-play mode to its land-based customers across the US.
In addition, NYX and Scientific Games Interactive have signed an agreement under which NYX will distribute content from the SG Interactive Bally, Shuffle Master, Barcrest and Williams game studios in online wagering formats to its regulated NYX OGS partners worldwide.
“Our free-to-play poker model positions our company for changes in regulation,” David Flynn, NYX Group’s executive vice-president of business development, said.
“Our partnership with SG Interactive has already delivered several new land-based casino clients in the United States, which we can further leverage as the market develops.”
Bob Hays, vice-president of commercial and interactive operations for Scientific Games, added: “We are excited to extend our relationship with NYX Gaming Group. The inclusion of the NYX Poker product for our land-based clients helps them increase loyalty among online players and drive more frequent returns to the casino.”
In a separate trading update, NYX said that revenue in the first quarter of 2015 totalled $9.9 million (€9.1 million), a record figure for the company that represents an increased 98% in comparison with the same period last year.
Gross profit in the quarter jumped 105% on a year-on-year basis to $8.8 million, while gross margin expanded from 85.1% last year to 88.2% during the opening period of this year.
However, NYX did note that adjusted earnings before interest, tax, depreciation and amortisation fell from $355,000 in Q1 of last year to a loss of $453,000 in the same period this year.
In addition, net income fell from a negative of $1.1 million last year to a loss of $5 million in the opening three months of this year, with earnings per share down from negative $0.04 to a loss of $0.15.
NYX put the losses primarily down to its acquisition of Ongame, although the new asset did help boost revenue in the quarter.
Matt Davey, chief executive officer of NYX, said: “I am very pleased to report that in our first full quarter of 2015, we have been able to carry forward our growth momentum from last year resulting in a strong start to 2015.
“With our proven abilities to identify accretive opportunities, I am confident that our track record of operational and financial success will continue.
“With our experienced management team, dedicated employees and supportive shareholders we are able to position ourselves for future growth.”
News of its first-quarter performance comes at a time when NYX Gaming has struck a deal to acquire the 50% stake in Sportech-NYX Gaming from joint venture partner, pools and sports wagering operator Sportech.
source : www.igamingbusiness.com
