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Nektan PLC Respin LLC signs first major contract
UK Regulatory (RNS & others)
RNS Number : 4832Z
15 March 2017
15 March 2017
("Nektan", the "Company" or the "Group")
Respin LLC signs first major contract with Tier-1 US casino operator to launch into the US market
Nektan PLC (AIM: NKTN), a leading international B2B gaming solutions and services provider, announces that Respin Games LLC ("Respin"), Nektan's US operating subsidiary, has signed its first major contract with a Tier-1 US casino operator to launch its real money in-venue mobile games solution into the US casino market.
Rapid Games(TM) , the casino gaming industry's first and only independently certified Class II (Protected Tribal Gaming Category) in-resort Bring Your Own Device ("BYOD") mobile platform, is being launched into a marquee casino in California by a Tier-1 US casino operator with a large footprint in both commercial and tribal markets in the US. Tribal gaming in North America is over a $30 billion annual revenue market (source: NIGC released data for June 2015).
Respin currently has a further five signed Letters of Intent to launch into multiple states in the US, with a strong pipeline of additional interested parties wishing to go live after the platform enters the market.
The Rapid Games(TM) platform will be completing third party certification in the coming weeks to also offer Class III games (Traditional Casino Slots), with unique machine count tracking technology, to manage numbers of games in-play by game class.
The Respin team recently completed the integration of Spin Games LLC's Class III Remote Gaming System ("RGS"), which already serves a large library of successful third party content into the New Jersey online gaming market, thereby adding a diverse portfolio of third party games to its existing game library and allowing Respin to offer operators both Class II & Class III content on a player's own mobile device.
Daniel DeWaal, CEO of Respin, said:
"It's fantastic to see our platform hit the ground with such a prestigious US casino partner, which helps to give confidence to so many other interested parties in the US that Rapid Games is clearly the way to attract millennial players and increase wider player engagement across the casino property."
Leigh Nissim, CEO of Nektan, commented:
"We are very pleased to have signed our first contract with a top US casino operator, which underlines the quality and uniqueness of our in mobile in-venue casino solutions. We look forward to updating shareholders as we make further significant progress during 2017."
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: firstname.lastname@example.org
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.
About Respin Games LLC
Respin, a wholly owned subsidiary of Nektan PLC, was founded in 2014. Respin Games LLC developed in house its 2016 IGNA I-Gaming Best Innovation Award winning Rapid Games Platform.
Rapid Games utilizes a mobile e-wallet payment solution, allowing players to easily and securely transfer credits onto their own mobile device for Class II and Class III real money wagering. With its Geolocation technology casinos can virtually draw boundaries around available gaming eligible locations.
For more information regarding Respin Games LLC, go to their website at www.respingaming.net
This information is provided by RNS
The company news service from the London Stock Exchange
(END) Dow Jones Newswires
March 15, 2017 03:01 ET (07:01 GMT)
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