NKTN Nektan Plc

TIDMNKTN

RNS Number : 0663B

Nektan PLC

14 June 2016

14 June 2016

Nektan plc

("Nektan", the "Company" or the "Group")

Respin JV receives approval for release of Class II Mobile Solution product

Nektan plc (AIM: NKTN), a leading international mobile gaming provider, announces that Respin, its joint venture in the US, has received approval from the designated independent test lab for release of its "Rapid Games" product, a Class II Mobile in venue gaming solution.

This Class II compliance certification opens the way for tribal jurisdictions to start deploying this product which will allow players to play Class II games on their own mobile device within designated areas of casino property. The directors are not aware of any other mobile product that currently has Class II compliance.

The first release will be Rapid Bingo with an additional array of games scheduled for released in 3rd quarter 2016.

Class II gaming utilizes bingo pay tables to distribute games of chance such as slots and bingo, where games are played on a pooled basis. i.e. player to player, not against a single machine or house. Class II gaming currently accounts for approx GBP33bn of annual casino gaming in the US.

Jim Wilkinson, Chairman of Nektan, said:

"We are delighted to be able to announce this landmark product approval for our on premise gaming product.

It is a key approval for the industry, and we believe this exciting product will be a great success for both Respin LLC, US casinos and their players who will benefit from an augmented gaming experience.

Our industry continues to strive for mobile gaming solutions to cater to future generations, and we believe this is a positive step in that direction. Class II offers many benefits for tribal casinos and we feel this is smart and compelling solution for their players."

For further information on the Group, please contact:

 
Nektan                                               via Newgate below 
 Jim Wilkinson, Chairman 
 
  Zeus Capital Limited (Nominated Adviser & Broker)    Tel: +44 (0)20 3829 5577 
  Nicholas How, Giles Balleny (Corporate Finance) 
  Adam Pollock (Corporate Broking) 
 
  Newgate (PR Adviser)                                 Tel: +44 (0)20 7680 6550 
  James Benjamin                                       Em:nektan@newgatecomms.com 
  Alex Shilov 
  Lydia Thompson 
 

Further information on Nektan can be found on the Company's website atwww.nektan.com

About Nektan:

Nektan is a leading international B2B mobile gaming content developer and platform provider. The Group designs, builds and operates mobile games in the regulated, interactive real money gaming ("RMG") and freemium gaming space, delivering original and innovative content to large commercial organisations that have established online audiences.

About Respin LLC:

Respin LLC located in Reno Nevada, was formed in 2015 by Spin Games LLC and is currently a joint venture with Nektan PLC. The company develops disruptive technologies to roll out on- property mobile gaming solutions for land-based casino operators across North America where there is legalized gambling. Respin specializes and offers solutions which allow operators to add mobile technology and content to their existing offerings, with products to be made accessible to customers across both cabinets and mobile devices inside the casinos. Respin has a strong intellectual property portfolio including game patents for Rapid Games(TM) (on-property mobile entertainment), and other captivating concepts and brands.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCDXLFFQQFXBBD

(END) Dow Jones Newswires

June 14, 2016 02:00 ET (06:00 GMT)

Nektan (LSE:NKTN)
Historical Stock Chart
From Apr 2024 to May 2024

Nektan (LSE:NKTN)
Historical Stock Chart
From May 2023 to May 2024