|Share Name||Share Symbol||Market||Type||Share ISIN||Share Description|
|Nektan||LSE:NKTN||London||Ordinary Share||GI000A12CYF8||ORD 1P (DI)|
|Price Change||% Change||Share Price||Bid Price||Offer Price||High Price||Low Price||Open Price||Shares Traded||Last Trade|
|Industry Sector||Turnover (m)||Profit (m)||EPS - Basic||PE Ratio||Market Cap (m)|
Nektan PLC INCREASED OWNERSHIP OF RESPIN US JV TO 100%
UK Regulatory (RNS & others)
RNS Number : 0270W
06 February 2017
6 February 2017
("Nektan", the "Company" or the "Group")
INCREASED OWNERSHIP OF RESPIN US JV TO 100% AND EUROPEAN GAMES DISTRIBUTION PARTNERSHIP
Nektan PLC (AIM: NKTN), a leading international B2B gaming solutions and services provider, is pleased to announce that the Company has increased its ownership of Respin Inc, the US focused Class II mobile on-property mobile casino solution provider, to 100% from 85%.
Bringing Nektan's North American business (Respin) closer to the European division will facilitate the Company's continuing realignment as an international gaming solutions provider, offering products and services across both markets through its proprietary platform, Evolve.
Full ownership also brings an increased focus on regulated digital casino gaming in North America through the deployment of Respin's Rapid Bingo on-property mobile solution, which is the first bring-your-own-device approved mobile gaming platform with a GLI 547, Class II gaming certification. In addition, the Group's Rapid Bingo app is the first to be approved by Apple Inc. for mobile in-venue gaming.
In parallel, Nektan has further strengthened its ties with Spin Games LLC (Respin's initial joint venture partner) ("Spin") by signing a games distribution agreement and supply relationship for Spin's high-quality portfolio of HTML5 mobile casino games for the Rapid Bingo on-property solution which is continuing to attract increased levels of interest from tribal casinos in the US.
Pursuant to these agreements, Nektan has become the preferred distributor in European Interactive markets of Spin's proprietary games portfolio and certain third party casino games to commercial gaming operators under its Gibraltar gaming licence, whilst also publishing the games in its growing managed casino network. Spin's titles and casino games are on the Robust Online Client(TM) ("ROC") remote gaming server that is now live through Nektan's Gibraltar data centre.
Leigh Nissim, Chief Executive Officer, said:
"Participating in North American digital gambling in a regulated manner is an important part of the Group's strategy and a market differentiator for Nektan. Our Rapid Bingo on-premise solution is supporting this goal, by offering entertaining mobile gambling experiences for players within a casino, with a strong focus on Class II gaming which is a critical content category for US tribal casinos.
Our strategic partnership with Spin Games LLC, both for Rapid Bingo and in the European Interactive cash gaming markets, brings Spin's high quality casino titles to new regulated markets and offers Nektan additional content to license to European commercial gaming operators.
These positive steps are in line with Nektan's strategy to leverage its assets, expertise and networks across both North America and Europe, helping to maximise revenue in both businesses."
For further information on the Group, please contact:
Nektan via Newgate below Leigh Nissim, Chief Executive Officer Patrick Sinclair, Chief Financial Officer Stockdale Securities Limited Tel: +44 20 7601 6100 Tom Griffiths / Ed Thomas Newgate (PR Adviser) Tel: +44 20 7680 6550 James Benjamin / + 44 7747 113 930 Email: email@example.com
Further information on Nektan can be found on the Group's website at www.nektan.com
Nektan is a leading international B2B mobile gaming solutions and services provider, operating in the regulated, interactive real money gaming (RMG) gaming space, delivering original and innovative solutions to commercial organisations that have established online audiences.
Nektan's full end-to-end technology platform, Evolve, simplifies and supports the route to mobile and desktop gaming revenues, managing the full customer experience and back-office operations, allowing commercial partners to focus on marketing the product to their consumers.
Nektan's US operating subsidiary in partnership with Spin Games, Respin LLC, provides US land-based casinos with in-venue mobile gaming solutions which allow operators to add mobile technology and content to their existing offerings, with products accessible to players across both cabinets and mobile devices inside the casinos. Respin has a strong intellectual property portfolio including game patents for Rapid Games(TM) (on-property mobile entertainment), and other captivating concepts and brands.
Nektan is headquartered in Gibraltar, regulated by the Gibraltar Licensing Authority and the UK Gambling Commission, as well as in the Irish market and maintains sales and customer support operations in its two primary geographical targets, Europe and North America. The proprietary Evolve technology is developed and maintained by a talented and experienced team of employees from Nektan's Indian office.
Nektan plc was admitted to the AIM market of the London Stock Exchange in November 2014.
This information is provided by RNS
The company news service from the London Stock Exchange
(END) Dow Jones Newswires
February 06, 2017 02:00 ET (07:00 GMT)
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