Nektan, the igaming solutions provider, reported increases in revenue in its results for the year ended June 30, 2017, while also revealing it raised capital through a placing of shares.
Net gaming revenue came in at £13.1m, which was up by 130 per cent. This is due to the increase in new partners signed up during the year, an increase in the number of casinos offered by those partners and also improved operational efficiencies across the network.
Contributing to this figure were the 130,105 new first time depositing players who assisted with wagering total cash of £390.3m, which was a rise of 157 per cent.
Despite this, there was an adjusted EBITDA loss of £3.4m and an operating loss for the year of £4.6m, although these losses were smaller than the previous years’ of £5.7m and £8.3m respectively.
The company announced separately that it had raised £1,759,535 through a placing of 5,095,243 new ordinary shares and subscriptions for 3,283,495 new ordinary shares both at a price of 21p per share.
