Nektan Announces Potential Sale

A leading online casino developer has announced a potentially significant sale which could go through in the early weeks of 2020.

Nektan is a global casino provider, through its platform, E-Lite, which provides distribution of a range of gaming content to a number of international gaming operators. But it also runs a B2C platform, known as Evolve, which handles the entire casino operator model, including the management of back-office functions. The company has continued to release content and says that it is on course to add 20 site launches before the end of the month, with more to follow in 2020.

And after indicating that it had received a lot of interest from potential partners, the company has now declared that trading in its shares is set to be suspended from January 2 as it prepares to sell the B2C component of its business.

It has been reported that discussions about the potential sale and restructuring of Nektan have been ongoing for some time. As a result, Nektan has said that it will be unlikely to be able to comply with the requirement to publish its full accounts by the year end, which will mean its share will be automatically suspended according to stock market rules.

And in a statement released on Monday, the company said that they were optimistic about the outlook for 2020, given the new site launches:

“The board continues to expect these launches to be transformational, with a number of these partners expected to deliver significant revenues to Nektan once fully established, which is considered typically to be three to four months after going live.”

The statement also added that some of the recently launched sites had already begun to produce significant revenue, which was helping to boost confidence in the B2B part of the company.

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