Nektan PLC Increase ownership of Respin to 100%

Nektan PLC

Nektan PLC (LON:NKTN), a leading international B2B gaming solutions and services provider, has today announced that the Company has increased its ownership of Respin Inc, the US focused Class II mobile on-property mobile casino solution provider, to 100% from 85%.

Bringing Nektan’s North American business (Respin) closer to the European division will facilitate the Company’s continuing realignment as an international gaming solutions provider, offering products and services across both markets through its proprietary platform, Evolve.

Full ownership also brings an increased focus on regulated digital casino gaming in North America through the deployment of Respin’s Rapid Bingo on-property mobile solution, which is the first bring-your-own-device approved mobile gaming platform with a GLI 547, Class II gaming certification. In addition, the Group’s Rapid Bingo app is the first to be approved by Apple Inc. for mobile in-venue gaming.

In parallel, Nektan has further strengthened its ties with Spin Games LLC (Respin’s initial joint venture partner) (“Spin”) by signing a games distribution agreement and supply relationship for Spin’s high-quality portfolio of HTML5 mobile casino games for the Rapid Bingo on-property solution which is continuing to attract increased levels of interest from tribal casinos in the US.

Pursuant to these agreements, Nektan has become the preferred distributor in European Interactive markets of Spin’s proprietary games portfolio and certain third party casino games to commercial gaming operators under its Gibraltar gaming licence, whilst also publishing the games in its growing managed casino network. Spin’s titles and casino games are on the Robust Online Client™ (“ROC”) remote gaming server that is now live through Nektan’s Gibraltar data centre.

Leigh Nissim, Nektan PLC Chief Executive Officer, said: “Participating in North American digital gambling in a regulated manner is an important part of the Group’s strategy and a market differentiator for Nektan. Our Rapid Bingo on-premise solution is supporting this goal, by offering entertaining mobile gambling experiences for players within a casino, with a strong focus on Class II gaming which is a critical content category for US tribal casinos.

Our strategic partnership with Spin Games LLC, both for Rapid Bingo and in the European Interactive cash gaming markets, brings Spin’s high quality casino titles to new regulated markets and offers Nektan additional content to license to European commercial gaming operators.

These positive steps are in line with Nektan’s strategy to leverage its assets, expertise and networks across both North America and Europe, helping to maximise revenue in both businesses.”

Find more news, interviews, share price & company profile here for:

    Good news travels fast (but only if you make that happen). Share on:

    Twitter
    LinkedIn
    Facebook
    Email
    Reddit

      AIM All Share Index