NYX Gaming Group may not be the biggest name in gaming here in the UK, but the company is definitely doing something right as proven by their most recent financial results. This week, it released its financial information for the first quarter of 2017 and the most important number for investors and anyone that simply wants to see the company doing well is the fact that profits have risen by 199.8% year on year, scoring Can$58.9 million compared to Can$16.8 million in the previous year. There was a 250% year on year increase in EBITDA too, rising to Can$16.8 million from Can$4.7 million.
According to the company, the improved results come on the back of the acquisitions of OpenBet and Betdigital back in May 2016, with their own services seeing increased revenues from existing customers and new players alike.
Speaking on the results, Mayy Davey, Chief Executive of NYX, said: “With our new operating model in place, we’re pleased to report growth in revenue and adjusted EBITDA. Our customer development pipeline remains strong, and we are focused on profitable growth throughout product led strategy with targeted research and development investment in sportsbook, gaming and content technologies.”
Now, even if you are quite the casino player, you might not quite realise the significance of NYX Gaming, especially to mobile casino players. However, that all comes down to their in-house game development team, which is none other than NextGen Gaming. While not mentioned specifically within the results, we know for a fact that they have been doing particularly well recently and are one of the fastest-growing game makers in the mobile casino space. Their relaunch of the DC Comics slots previously offered by Cryptologic, for example, has been a roaring success and there has probably never been a better time for a developer to offer slots titles based on Batman, The Flash and other iconic DC characters. Throw in the disappearance of the Marvel slots from Playtech casinos and they have something of a monopoly on the major mobile superhero slots action, and that alone will probably have something of a major impact on their bottom line.
NextGen does not have all of its eggs in one basket either, as even their original new releases seem to have entered a new gear in recent times. While we can admit that the developer was perhaps best known for treading water on its games, titles like Foxin’ Wins continue to perform particularly well in the UK and beyond and they are now right up there as one of the best game makers around. If they could decide on a regular release schedule to compete with the likes of Microgaming and NetEnt, then they might even stand a chance at being right up there at the top of the conversation in terms of the best that the gaming industry has to offer!
They are also partnered with some of our most highly recommended mobile casinos, including the likes of Mr Green, Vera & John and LeoVegas and you can find out why we rate them so highly as part of our full and thorough mobile casino reviews here on the site.