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NYX Gaming Earnings Report

Friday August 28,2015  : ONLINE POKER PULLS DOWN N.Y.X. SECOND QUARTER PERFORMANCE
 
Ongame performance disappoints.
 
Despite record levels of revenue the NYX Gaming group felt the drag of its underperforming online poker subsidiary Ongame in the second quarter of 2015, its latest results disclose.
 
NYX reported that:
 
* Revenues in Q2-2015 were up 44.5 percent year-on-year at $10,7 million;
 
* Gross profit rose 40.2 percent to $9.1 million;
 
* Net income rose a record 769 percent from $1.6 million in the preceding year to $13.9 million in Q2-2015;
 
* Adjusted EBITDA declined from $3 million in the same period last year to a loss of $553,000 in Q2-2015, mainly due to poor poker performance.
 
On a half-year basis, the company reported:
 
* H1-2015 revenue up just over 66 percent at $20.6 million;
 
* Gross profit up 66 percent to $17.9 million;
 
* Net income rose to a record level of $8.3 million;
 
* Adjusted EBITDA was down, with a loss of $1 million (H1-2014: $4.4 million).
 
CEO Matthew Davey characterised the group's performance as "very strong”, flagging the acquisition of Game320 and the buy-out of New Jersey joint venture partner Sportech.
 
“This quarter, we have generated record revenues in our core business driven by the strong organic performance of our gaming products and are well advanced in our realisation of meaningful cost synergies from our recent

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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