NYX revenue up over 73% thanks to OpenBet contributions

Online gambling technology provider NYX Gaming Group has reported another quarter of seriously strong double-digit revenue growth.

Figures released Tuesday show the Toronto-listed NYX generated revenue of C$61m (US $48.5m) in the three months ending June 30. The figure represents a 73.3% improvement over the same period last year, reflecting its early-2016 acquisitions of sports betting technology firm OpenBet and gaming content provider Betdigital.

OpenBet contributed C$32.9m in revenue to NYX’s Q2 results, up from the partial-quarter contribution of C$16.5m in Q2 2016. That said, NYX was keen to point out that even if you exclude contributions from OpenBet and Betdigital, the company enjoyed organic growth of 50.6%, thanks to a steady stream of new customer launches.

Royalty & license revenue was up 53% to C$31.9m, while professional services jumped 142% to C$28.8m. The lone negative was social gaming, which fell from C$2.5m to just under C$300k, following the company’s decision to divest itself of the play-money gambling business in June.