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Nektan completed a GBP 7.1 million financing round this week

Wednesday April 29,2015 : NEKTAN IN GBP 7.1 MILLION FINANCING ROUND

Mobile gaming platform provider eyes expansion in Europe and the US

London-listed B2B mobile gaming platform provider Nektan completed a GBP 7.1 million financing round this week, proceeds of which it says it will use to support the company’s growth strategy while maintaining momentum in its key markets.

Key focus areas for Nektan include:

  1. continued expansion in the US tribal and commercial casino market, where it now has 18 signed contracts and/or letters of intent with licensed casino operators;
  2. the continued growth of its European business currently comprising 16 white label partners on its proprietary Evolve platform with a further 14 contracts signed during the quarter; and,
  3. the launch of its partnership with The Sun in the UK to operate white-label real money gaming from the end of H1/2015.

 
"The last six months have seen an acceleration in demand for our mobile, tablet and desktop gaming products and services, most notably with our landmark real money gaming partnership announced with The Sun in the UK,” chief executive officer David Gosen said in a press statement. 

“The support from existing and new investors in this Financing is a clear endorsement of our focused strategy and will now allow Nektan to capitalise on our early market entry in the US and build on the European momentum with the continuing conversion of a strong partner pipeline."

The finance package comprises the issue of GBP 4.7 million of Convertible Loan Notes, a placing of 1,044,774 Placing Shares, and the intended drawdown of a further GBP 0.6 million under the DTL Loan Facility.

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Gambling News :

Pokerstars Bahamas Main and High Roller Results - The inaugural PokerStars Championship Bahamas saw two big winners crowned this weekend when Christian Harder won the main event for $429,664 and Luc Greenwood took home $779,268 after taking down the $25,750 High Roller event.

Rodrigo Duterte has identified illegal gambling as his third priority - Illegal online gambling operators can anticipate tougher times in the Philippines following a directive from President Rodrigo Duterte that stamping out illegal gambling is his third most important goal after illegal drugs and government corruption.

High Hopes For Pennsylvania Online Gambling - Pennsylvania state politicians have wasted no time in getting back to work in the new legislative season, and there is renewed hope for a gambling expansion bill that includes online gambling and daily fantasy sports.

WILLIAM HILL ACCUSED OF QUESTIONABLE MARKETING TACTICS - British Labour member of parliament for Swansea East, Carolyn Harris, has described as "appalling" player-poaching techniques allegedly encouraged by the online and land bookmaker William Hill plc.

GoWild has announced the launch of its own new gaming platform - The European online gambling group GoWild has announced the launch of its own new gaming platform, providing entertainment in addition to its Microgaming games, which will now be delivered via the Quickfire platform.

UK Government Introduces Mandatory horseracing levy - The levy kicks in after the first GBP 500,000 in gross revenue has been earned by online and retail bookmaking firms and other betting organizations.

Chinese Arrested in Philippines Invalid - Representing the thirty-nine plaintiffs, defense lawyer Irene Bianca B. Distura claimed that the warrant that led to her clients’ apprehension is “invalid.”

NJ Warns No Federal Online Gambling Ban - New Jersey Senator and gubernatorial candidate Raymond Lesniak warned that any attempt to overturn a 2011 Department of Justice opinion that the federal Wire Act exclusively governs sports betting would be met with a hard-nosed reaction from his state.

Casino du Liban To Launch new online gambling platform - The venture will be in partnership with an unnamed international company, and a tender has already been launched with a deadline of January 19 to submit the proposals.

Winstar slot Pays Big Jackpot - One very fortunate online punter in Bermuda has scored a major win on the Winstar slot at the PokerStars online casino, collecting a $825,037 jackpot.

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