CEO of Nektan, David Gosen recently announced that his firm had made a request to provide remote betting facilities to Irish residents, and the request has been accepted. Gibraltar based Nektan Plc has obtained this license to comply with new betting regulations of Ireland that have been enforced since August 2015. Obtaining this license is a part of Nektan’s long term expansion plans as it was among the earliest gaming firms to set shop in Ireland and has grown its operations and invested a sizable amount since then.
New amendment in Ireland’s betting laws
According to recent amendment of 2015 made in Ireland’s gaming laws several changes have been made in regulations surrounding grant of gambling and betting licenses to private operators within the nation and those operating from remote locations that accept Irish betters. To ensure that its citizens are not fleeced by offshore gambling firms, Ireland’s gambling regulation authority has made it mandatory for all betting and gambling firms accepting bets from Irish citizens to obtain license by August 2015, failing which they will not be able to operate in the nation. Nektan has also admitted £ 10,000,000 series A of Fixed Rate Secured Convertible Loan Notes for 2020 to List of Channel Islands Securities Exchange Authority which has been sponsored by Hatstone Listing Services Limited.
Nektan’s Financial Performance
During June of 2015, Nektan’s spokesperson stated that it will present its financial results for the year in September as its financial year ended on June 30th. Nektan also stated that the gaming revenue of Nextan after tax is likely to be around £0.5 million while actual revenue from money based gaming will be £ 0.2 million after adjustment of EBITDA losses of around £ 5.5 million. Nektan is a Gibraltar registered gaming firm that is regulated by Gambling Commission of UK that develops content for mobile gaming and offers customers an trendy gaming platform called Evolve.