Stock Market News
Supreme Court ruling allows Nektan to capitalise on US sports gambling
Nektan announced on Wednesday that it has entered a partnership with sports betting supplier Metric Gaming in the wake of the US Supreme Court's decision to allow the legalisation of sports gambling.
The AIM traded B2B and white label gaming software and services provider said that under the partnership the two firms will, through their subsidiaries, offer high quality horse racing and sports betting services via Respin's Rapid Games platform.
The platform is the US casino gaming industry's only independently certified class II (protected tribal gaming category) and class III on-premises bring your own device mobile platform.
Gary Shaw, interim chief executive of Nektan, said: "With last week's Supreme Court decision, the combination of Metric's leading sports and race products, and Nektan's Rapid Games Mobile Casino, creates a large opportunity for both companies working in partnership."
On 12 May, the Supreme Court struck down a 1992 federal law that had prohibited most states from authorising sports betting.
The ruling is a victory for states such as New Jersey that have considered moves toward the legalisation of sports gambling in order to encourage tourism and tax revenue, but major North American sports bodies such as the NCAA, NFL and NBA opted to back prohibition.
Martin de Knijff, chief executive of Metric, said: "Last week's Supreme Court decision signals a sea change in the U.S. We are impressed by the Rapid Games platform, and believe that its multi-device approach gives our state-of-the-art horse racing and sports betting counterparts a price and functionality advantage over legacy based competitors in both the retail and iGaming spaces."
As of 0911 BST, Nektan's shares were up 43.18% at 31.50p.
The AIM traded B2B and white label gaming software and services provider said that under the partnership the two firms will, through their subsidiaries, offer high quality horse racing and sports betting services via Respin's Rapid Games platform.
The platform is the US casino gaming industry's only independently certified class II (protected tribal gaming category) and class III on-premises bring your own device mobile platform.
Gary Shaw, interim chief executive of Nektan, said: "With last week's Supreme Court decision, the combination of Metric's leading sports and race products, and Nektan's Rapid Games Mobile Casino, creates a large opportunity for both companies working in partnership."
On 12 May, the Supreme Court struck down a 1992 federal law that had prohibited most states from authorising sports betting.
The ruling is a victory for states such as New Jersey that have considered moves toward the legalisation of sports gambling in order to encourage tourism and tax revenue, but major North American sports bodies such as the NCAA, NFL and NBA opted to back prohibition.
Martin de Knijff, chief executive of Metric, said: "Last week's Supreme Court decision signals a sea change in the U.S. We are impressed by the Rapid Games platform, and believe that its multi-device approach gives our state-of-the-art horse racing and sports betting counterparts a price and functionality advantage over legacy based competitors in both the retail and iGaming spaces."
As of 0911 BST, Nektan's shares were up 43.18% at 31.50p.
Related share prices |
---|
Nektan (DI) (NKTN) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price