Nektan CEO Resigns

nektan
Nektan CEO Lucy Buckley resigned after several months in the position, stating that the game provider’s recent restructuring was an opportune time. The resignation was effective immediately.

Buckley’s appointment was announced in October 2018, and she joined the management team at the beginning of December. Prior to her appointment, she had spent eight years with Inspired Entertainment, where her last role was as the provider’s interactive division’s vice president.

In a statement, Buckley said that the company will be able to take advantage of numerous opportunities around the world. She said this is due to the rapid growth of its B2B business, and to its proprietary technology.

Founder Is Interim CEO

Founder and executive director Gary Shaw will take on the role until a new CEO is appointed. While in the position, he will continue to do his current duty of heading up international growth.

Shaw does not need much of an introduction to the role. He filled it from June 2017 until October 2018, when Buckley was named CEO.

The founder thanked Buckley for her efforts during a time of significant change within the UK market that has not been without challenges. He added that the board was certain the company will see its revenues grow significantly in its B2B and B2C divisions, thanks to the strength of its sales pipeline.

Nektan investors received a profit warning in June. According to reports, the warning came even as player deposits continued to decline. The company also stated that it would not break even for its financial year up to 30 June. However, it later reported that its B2B and B2C growth led to a 14.8% increase in revenue, year on year.

About the Provider

Founded in 2008, Nektan’s focus is on mobile casino gaming. It offers clients a technology platform, slots, table games, and other me options.

In July 2013, the company acquired mobile technology company Mfuse Limited. The acquisition brought with it the Mfuse mobile gaming platform. Nektan used the platform to launch its own rea-money online casino. In May 2014, its first white label partner launched its site. Later, the company entered into an agreement with Spin Games LLC. This provided its entry point into US land-based casinos. Players could access its games through mobile technology at various venues. 

In November that year, the company was admitted to AIM, which was known previously as the Alternative Investment Market. The membership has led to an increase in business and investment opportunities.