NYX Gaming claims record revenue in second quarter

NYX Gaming Group has revealed that it was able to post a record level of revenue during the three months through to June 30.

The gaming services provider’s revenue in the second quarter came in at $10.7 million (€9.5 million), a figure that represents an increase of 44.5% on the $7.4 million posted in the same period last year.

Gross profit in the second quarter was also up 40.2% to $9.1 million, while net income hiked a massive 769% from just $1.6 million in Q2 of 2014 to $13.9 million this year.

Elsewhere, adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) was down from a plus of $3 million last year to a loss of $553,000 in the opening six months of this year.

Earnings per share basic in the period increased 413% to $0.41, while earnings per share dilutive jumped 520% to $0.31.

NYX Gaming also noted that its impressive performance in the second quarter had a major impact on its results for the six months through to June 30.

Revenue for the first half amounted to $20.6 million, up 66.1% on the $12.4 million posted in the same period last year.

Gross profit hiked 66% to $17.9 million, while net income rocketed by 1,674% to $8.3 million.

Although adjusted EBITDA was down from a positive figure of $4.4 million to a loss of $1 million, NYX said earnings per share basic in the first half increased by 1,200% to $0.26, with earnings per share dilutive also up 900% to $0.20.

Matthew Davey, chief executive of NYX Gaming, said: “I’m pleased to announce that Q2 was a very strong quarter for NYX, as we closed the purchase of Game360 and the buyout of our joint venture partner, Sportech, in New Jersey. 

“This quarter, we have generated record revenues in our core business driven by the strong organic performance of our gaming products and are well advanced in our realisation of meaningful cost synergies from our recent acquisition of Chartwell and CryptoLogic.”

source : www.igamingbusiness.com

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