Online gambling technology supplier NYX Gaming Group acquisition of sports betting technology supplier Openbet is proving to be a good decision – if the sole basis is the first half of 2016 revenue results alone.

In a statement, NYX announced that its Jan-June 2016 revenue surged by 165.9 percent to C$54.9 million (US$42.1 million) compared to the first half revenue of 2015. The Canada-listed firm attributed the stellar performance of its company to the £270 million (US$353.05 million) acquisition of OpenBet.

On the other hand, Gross profit for the six months ended June 30, 2016 spiked by 163.2 percent to reach C$47 million (US$36.04 million). Gross margin stood at 85.7 percent compared to 86.5 percent reported for the same period of 2015.

Adjusted EBITDA for this year’s first six months totaled C$15.3 million (US$ 11.73 million), up 224.6 percent year-on-year.