NYX Gaming posts 66% rise in revenues
Raft of new licensees leads to an Impressive growth in revenues but poker network posts $3m loss
NYX Gaming Group reported an impressive 66% uptick in revenues in the first half of the year, but saw profits fall 129% due to losses from its recently-acquired Ongame poker network. [private]
Total revenues for the six-month period were $20.6m with growth driven by royalty and licenses fees increasing to $16.9m and launching its products with nine new customers.
But despite revenue growth, adjusted EBITDA fell 129% during the period to a loss of $1m which included $3m of losses associated with Ongame.
Itâs been a busy start to the year for NYX, with the supplier entering the Italian market for the first time via its Game360 acquisition, plus acquiring the remaining 50% of its New Jersey JV from Sportech.
NYX also completed its $150m acquisition of Amaya Gamingâs B2B assets Chartwell and Cryptologic earlier this month.
âWe have generated record revenues in our core business driven by the strong organic performance of our gaming products and are well advanced in our realization of meaningful cost synergies from our recent acquisition of Chartwell and CryptoLogic,” NYX Gaming CEO Matt Davey said.
The supplier also provided guidance on its full year 2015 results, and estimates revenues of between $85m to $95m, leading to adjusted EBITDA of $28m to $33m.