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Nektan Selloff

Monday August 22,2016 :  NEKTAN SELLS OFF THREE BRAND ASSETS

But will continue operating brands as white labels for a further five years.

Mobile gaming provider Nektan has partnered Buckingham HMB Ltd for the sale of three of its gaming brands for an initial GBP 1.75 million linked to a simultaneous white label licensing agreement that will see it continue to operate the brands for a five-year term on its Evolve platform for a monthly royalty.

A further GBP 200,000 is expected to follow shortly after the transfer of Nektan’s in-house developed Chomp Casino, Spin Princess and Sapphire Rooms web domain and customer database assets, the proceeds of which will be used to develop its business in Europe and the US, through its Respin Joint Venture. 

As with other white label partners, Nektan will continue to report net gaming revenue from the three brands within its own net gaming revenue figures, a company statement said.

“…the transfer of these brand assets coupled with the long term white label licensing agreement is a positive step forward for the business by providing additional working capital for the Group while still benefiting from a share of the ongoing revenues of the brands,” Leigh Nissim, chief executive of Nektan, said.

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Gambling News :

GVC In Content Deal With Microgaming’s Quickfire - Microgaming-powered Prima Networks Limited will supply over 50 new titles to GVC’s recently acquired bwin Casino, PartyCasino and Party Poker gaming sites within the coming weeks.

Opap in memorandum of understanding With Inspired - Virtual sports provider Inspired has entered into a memorandum of understanding (MOU) with Greek betting and lottery operator OPAP for the supply of its full suite of virtual sports, for integration online and across OPAP's retail network.

DeltaCorp To Acquire ace2three - Our readers will recall Delta Corp. acquired a 26 percent stake in Gaussian Networks, parent company of India’s largest online poker operator Adda52 earlier this month

More Australian POC Taxes - In an interview with The Australian, Tabcorp chief executive offer David Attenborough warned “global rivals” of his belief that other Australian states are moving fast to follow South Australia’s lead in implementing a point of consumption tax.

William Hill Exits Russia - "Starting from September 23 William Hill Casino Club will terminate its activities in the Russian territory for legislatory reasons. All active customer accounts will be suspended," the advisory reportedly detailed.

Pennsylvania Online Gambling Hearing Postponed till October - HR 2150, which includes DFS and e-gaming elements, was passed as part of the critical state budget bill by the House in June this year, with lawmakers expecting the bill to contribute $100 million annually in licensing and fees to help balance the state budget.

Two Mega Fortune Dreams Jackpots Hit - Both Swedish players, the first lucky punter hit a GBP 100,000 jackpot playing on his mobile phone, while the second, identified as Martin, staked just 18p before netting a GBP 60,000 jackpot on the popular series thinking he was playing in demo-mode.

ASA Looking at Ladbrokes and Netbet ads - A TV ad for Cosmo Gaming’s NetBet online casino was determined by the UK Advertising Standards Authority (ASA) as glamorising online gambling following a single complaint.

Betconstruct In Deal With Realistic Games - BetConstruct has agreed a deal in which it will integrate a range of Realistic Games online table and slot content including blackjack, roulette and slot titles Super Graphics Upside Down, The Fruit Factory and Fireworks.

XLMedia Half 1 2016 Earnings Report - Online gambling marketing company XLMedia, which operates websites driving players to online casino operators, delivered robust interim results for the first half of 2016, attributing its success to investment in technology.

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