Wed, 08 Jan 2020 | DIVISION SALE
Online gaming platform operator Nektan Plc has announced that its administrators PCR London LLC have sold its UK B2C business to Grace Media for £200,000.
The sale forms part of Nektan’s wider restructuring and comes after the appointment of Mark Phillips and Julia Swan of PCR London as administrators earlier in the week.
The most recent audited accounts of Nektan’s UK B2C business date from the year ending June 2018 and show the business delivering turnover of £19.4 million and making a loss.
Additionally, Nektan has entered into a B2B partnership with Grace Media, which is part of the Active Win Group, in order to facilitate continued service delivery to its existing UK B2C white label partners, with Nektan receiving ongoing monthly royalties from Grace Media.
Nektan has said that the sale will have no operational impact on it or on any of its subsidiaries, which will continue trading as normal. It also said that the sale and restructuring would allow it to target emerging markets with a stronger balance sheet.
Nektan Interim Chief Executive Gary Shaw described the deal as “very reassuring to all stakeholders involved” and added: "We look forward to working in partnership through the business-to-business relationship with the buyer as they take the business forward."
Active Win Group Chief Executive Warren Jacobs said: "The opportunity to acquire the UK B2C business allows Active Win Group to expand further into the UK online casino market, furthering our growth in this market from being a white label operator ourselves, to working with the full complement of business partners established by Nektan in recent years.”
Discover an exceptional opportunity to own a charming freehouse and Inn, complete with a luxurious detached owner's residence, nestled in approximately 10 acres of breathtaking countryside.
FREEHOLD
A luxurious spa hotel opportunity in the heart of the Lake District, ranked as the top hotel in Windermere, featuring eight exquisite spa suites along with an elegant bar and restaurant, is now available for acquisition.
FREEHOLD
Explore a substantial development opportunity on the South Coast with a large seaside hotel on a 0.25-acre plot, complete with space for an additional 3-bedroom house.
FREEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.