NYX Gaming hits record first quarter and extends poker offering with Scientific Games
31 May 2015
Online gaming and technology provider NYX Gaming Group has reported record high revenue earning for the first quarter of 2015. With revenue totalling $9.9 million dollars, the online gaming company saw an increase of 98% in comparison to their 2014 revenue figures.
Gross profit in the first quarter jumped 105% on a year-on-year basis to $8.8 million, with gross margin expanded from 85.1% last year to 88.2% during the opening period of this year.
NYX Gaming did however notice adjusted earnings before interest, taxes and depreciation fell from $355,000 dollars in the first quarter of last year with a loss of $453,000 dollars in the same period for the first quarter of 2015. There has been a negative decrease in net income of $1.1 million dollars from 2014 to a negative decrease of $5 million dollars in the first quarter of 2015.
In addition to the positive first quarter revenue earnings for 2015, NYX Gaming Group has also announced the extension of their poker distribution agreement with gaming operator Scientific Games, who will be distributing the NYX Poker offering in free-to-play mode to land-based customers across their US market. Along with the signed agreement, NYX will also distribute content from game studios such as Scientific Games Interactive Bally, Shuffle Master, Barcrest and Williams in online betting formats to its regulated NYX OGS partners worldwide.
NYX Gaming Group’s executive vice-president of business development, David Flynn commented saying: “Our free-to-play poker model positions our company for changes in regulation. Our partnership with Scientific Games Interactive has already delivered several new land-based casino clients in the United States, which we can further leverage as the market develops.”
Vice-president of commercial and interactive operations for Scientific Games Interactive commented saying: “We are excited to extend our relationship with NYX Gaming Group. The inclusion of the NYX Poker product for our land-based clients helps them increase loyalty among online players and drive more frequent returns to the casino.”
Chief executive officer of NYX Gaming Group, Matt Davey commented saying: “I am very pleased to report that in our first full quarter of 2015, we have been able to carry forward our growth momentum from last year resulting in a strong start to 2015. With our proven abilities to identify accretive opportunities, I am confident that our track record of operational and financial success will continue. With our experienced management team, dedicated employees and supportive shareholders we are able to position ourselves for future growth.”