NYX Reports Q1 2017 Results
The entire report is impressive, but its highlighted by $58.9m in revenue, representing an astounding 199.8% year-over-year growth.
NYX is one of the leading online casino providers in the industry. With more than 2000 different gaming titles on offer, it is widely considered to be one of the most creative suppliers of games in the world.
To get a perspective of the popularity and prevalence it enjoys, its OpenBet sports book alone took more than 2b sports bet alone in 2016:
Which is why it’s no surprise that when the company recently released its Q1 2017 financials report, the results are nothing less than spectacular.
Nearly 200% Year-Over-Year Increase
The entire report is impressive, but it’s highlighted by $58.9m in revenue, representing an astounding 199.8% year-over-year growth.
Of that revenue, $30.9m came from its core royalty and license business, a year-over-year increase of 77.9%. In addition, it signed eleven new partnerships for its Open Platform System (“OPS”) and Open Gaming System (“OGS”).
The company also reported that it has recached development agreements with 28 different partners that will be launching at some point in the future.
Huge Industry Player
The numbers just confirm what everyone already knew – NYX is already a huge player in the online casino space, and that presence is only continuing to grow.
Q1 saw go-live with some of the most well-known brands in the industry including PokerStars Denmark and GVC Holdings. Overall, NYX’s distribution network is now 34,933.
“With our new operating model in place, we’re pleased to report growth in revenue and Adjusted EBITDA from the prior quarter and the prior year period,” said Matt Davey, CEO of NYX Gaming Group via a statement on the company’s website.
The Future Looks Bright
This year, NYX has already won the prestigious “Casino Platform Supplier” award at EGR North America, as well as the “Best Platform Supplier” award at iGaming North America.
Given the strong numbers shown in this latest Q1 report, it’s easy to see why. NYX is clearly creating excellent products for online casinos – and promises to continue that trend moving forward:
“Our customer development pipeline remains strong, and we are focused on profitable growth through our product led strategy with targeted R&D investment in sportsbook, gaming, and content technologies,” said Matt Davey.