NYX Gaming posts latest results

Expansion is the broad strategy going into 2015, online gambling software and turnkey provider NYX Gaming revealed in posting its Q4 and full year 2014 results this week, flagging the following highlights:

* Full-year revenue up 46 percent to $27.3 million;

* Full-year Adjusted EBITDA up 43 percent to $6.1 million;

* Gross profit up 49 percent y-o-y to $24.1 million;

* Gross margin rose from 86.7 percent to 88.3 percent;

* Net losses worse at $7 million (FY 2013: $1.9 million) due to investment in making new acquisitions, public listing expenses and restructuring;

Arthur Hamilton, the group’s chief financial officer, commented: “Our 46 percent increase in revenue and 49 percent increase in gross profit demonstrate the strength and scalability of our business. We continue to benefit from recurring revenue received from royalties and licensing fees which represents over 80 percent of our total revenue.”

He added that cash flow remains solid as the group anticipates building on a strong balance sheet.

For the fourth quarter, NYX reported:

* Revenue of $8.6 million;
* Gross Profit of $7.5 million;
* Adjusted EBITDA of $600,000 including the results of Ongame;
* Net loss of $8.3 million;
* Following the acquisition of Ongame Networks Ltd., NYX Gaming Group completed its initial public offering and secondary offering at $3.50 per share for total gross proceeds of $20 million to NYX Gaming Group and $29.5 million to certain venture capital funds advised by Verdane Capital Advisors for an aggregate of $49.5 million.

On April 9, 2015, NYX Gaming Group entered into a share purchase agreement to acquire the entire issued share capital of Amaya (Alberta) Inc. (formerly Chartwell Technology Inc. and Cryptologic Limited for $150 million .

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