NYX Gaming Group bolsters executive ranks, rues Ongame money pit

nyx-ongame-money-pitOnline gambling technology supplier NYX Gaming Group has appointed Leon Thomas as managing director of its US-facing business.

Thomas, whose resume includes stints at Caesars Interactive Entertainment and UK online bingo firm Tombola, will oversee commercial development with NYX’s US clients and has also been tasked with boosting the division’s resources.

The Toronto-listed NYX also appointed former Amaya Gaming senior VP Don Jaques to a corporate development role to spur further growth in US and European markets. Jaques previously worked at the Ongame poker network, which NYX acquired from Amaya last year.

It appears any firm that has any dealings with Amaya eventually adopts its ‘buy or die’ strategy. In April, NYX purchased Amaya’s Chartwell and Cryptologic B2B software divisions. One month later, NYX bought out Sportech and assumed total control of the US-facing SNG Interactive joint venture. In August, NYX splashed out €7.5m for Belgrade-based gaming technology outfit eGaming Consulting.

The additions that were completed before June 30 had a positive effect on NYX’s Q2 revenue, which rose 44.5% to a record C$10.7m (US $8.1m). Even excluding acquisitions, like-for-like revenue grew 32% year-on-year to $9.8m. But adjusted earnings came in at a negative $600k, driven down by $3.3m in losses at Ongame, (or Hot Potato, as Amaya once referred to it).

NYX inked 12 new deals and launched nine new customers in Q2, and their revenue pipeline has 28 signed contracts in various stages of development. The NextGen software division released 13 new games and the number of ‘game instances’ across its distribution network rose 58% between Q4 2014 and Q2 2015.

For the year as a whole, NYX is forecasting revenue of between $85m to $95m and adjusted earnings of $28m to $33m.