Solid third quarter reported by Nektan

Gibraltar-based online gambling provider Nektan plc has reported that, for the third quarter to 31 March 2016, net gaming revenue grew by 115 percent to GBP2.3 million, noting the following highlights:

* Total cash bets performed by players/turnover growth of 87 percent in Q3 to GBP56.21 million;

* Total player cash deposits growth of 76 percent in Q3 to GBP3.78 million;

* Total number of first time depositors increased 42 percent in Q3 to 15,628;

* Signed 11 new partners in the period;

* Increased capacity to launch new partners on the Evolve gaming platform from 4 a month to 6-7 a month;

* The Group announced in March 2016 a new fundraising totalling GBP2.93 million that puts in place additional working capital to support the strong growth being delivered in Europe.

Gary Shaw, interim CEO of the Nektan group said in a statement Monday:

“We are delivering significant growth and seeing strong momentum building across all key performance indicators in Europe, whilst we continue to make good progress on further reducing the cost base of the business. We remain confident on the outlook for the full year.”

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