LAS VEGAS, Feb. 18, 2016 /CNW/ - NYX Gaming Group Limited ("NYX" or the "Company") (TSXV: NYX) is pleased to provide a preview of Q4 and FY2015 financial results.
Topping off a remarkable year for the Company, NYX announced earlier today that they are forecasting record-breaking revenues and positive adjusted EBITDA1 for Q4.
NYX expects that revenues for Q4 and FY2015 will range from $18.1 to $18.3 million for the quarter and $52.0 to $52.2 million for the fiscal year or growth of approximately 114.0% and 91.0% as compared to Q4-2014 and FY2014, respectively. Organic revenue growth remained strong and was approximately 35% and 50% when compared to the Q4-2014 and FY2014, respectively. Adjusted EBITDA, including the effects of losses for Ongame Network Ltd., for Q4 and FY2015 will range from $1.6 to $1.8 million for the quarter and $(0.8) to $(0.6) million loss for FY2015.
The expected Q4 revenue is a reflection of the substantial growth across NYX's combined businesses. During this period, NYX signed 18 new deals for its Open Gaming System ("OGS") and one new deal for its Open Platform System ("OPS") in Q4. In addition to this, NYX signed new deals for Sportsbook (IT) and Mobile (bespoke) games in Q4.
NYX launched content deals across nine new client sites during the quarter, including 888 and Boyle Sports. The Company also launched its OPS with Golden Nugget in New Jersey helping the software provider reach approximately 80.0% of the licensed operators in the New Jersey online gaming market, making it the preferred supplier in the regulated US market.
"Fiscal year 2015 was a truly a transformative year for NYX as we purchased and integrated five companies within our group structure. In particular, we are very pleased with our Q4 numbers which delivered our first positive EBITDA result as a public company. Further, we have seen continued organic growth from our legacy business and realization of synergies from Cryptologic & Chartwell. Our revenue contribution from mobile continues to grow and outpace the industry, where 54.5% of our revenue via our OGS in Q4 2015 was generated from mobile versus 44.5% in 2014," said Matt Davey, Chief Executive Officer of NYX.
About NYX Gaming Group Limited
NYX Gaming Group Limited is a leading digital gaming supplier headquartered in Las Vegas with a staff of more than 445 employees based in 8 countries across Europe, North America and Australia. The Company provides one of the world's largest portfolios of market leading content and technology to some of the largest gaming operators, lotteries and casinos across the globe. NYX also has one of the broadest distribution bases in the industry with over 170 unique customers and a collective game catalogue of over 650 games. The market leading game catalogue includes slots, table games, scratch cards, lottery, bingo and poker available across web and mobile formats.
NYX is also a proud recipient of the Special Achievement Award from EGR, which recognized the group's consistent growth and innovation in multiple e-gaming verticals.
NYX Gaming Group Limited is listed on the TSX Venture Exchange under the symbol (TSXV: NYX).
Caution Regarding Forward-Looking Statements
Certain statements included herein, including those that express management's expectations or estimates of our future performance, constitute "forward-looking statements" within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "potential" or the negative of these terms or other similar expressions. Forward looking statements are based on certain assumptions regarding the Company's expected growth, results of operations, performance, industry trends and growth opportunities. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward looking statements. Applicable risks and uncertainties include, but are not limited to: credit, market, currency, operational, liquidity and funding risks, including changes in economic conditions, interest rates or tax rates, the impact of government regulation on the on-line gaming industry and the risk that such regulation is subject to change, competition from other providers of online gaming services, the risks associated with international and foreign operations, the impact of consolidations in the online gaming industry and the other risks identified under the heading "Risk Factors" in the Company's final long form prospectus dated December 18, 2014, as filed on SEDAR at www.sedar.com, and in other filings that NYX may make with applicable securities authorities in the future. The forward-looking statements contained herein reflect NYX's current views with respect to future events, and except as required by law, NYX does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events, or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
1 Adjusted EBITDA is calculated as outlined in the "Use of Non-GAAP Financial Measures" and is defined as earnings before interest, taxes, depreciation, amortization, share based compensation, acquisition, restructuring, and non-recurring items.
SOURCE NYX Gaming Group Limited
For further information: Matt Davey, Chief Executive Officer, NYX Gaming Group Limited, 1-702-586-8428; Joann Head, Investor Relations, (702) 586-5711, email@example.com