Nektan to miss break-even target as regulatory pressure weighs

Business News

Lucy Buckley, the group’s chief executive, added that going forward a number of developing opportunities in the firm’s B2B arm could have a “transformational impact” on the business and is expecting double digit revenue growth and a heavily narrowed loss in its current year.

In a pre-close update for its financial year ending 30 June, the online gaming technology specialist said its earnings (EBITDA) loss for the period would be “significantly reduced” compared to the prior year, however the group would not achieve EBITDA breakeven due to “slower trends” in its third and fourth quarters including UK regulations around player marketing and verification which was affecting deposits.