Nektan

We’ve all heard the statement that once something is on the internet, it is there forever. But then you run into companies that used to be massive, but for all purposes have disappeared from the internet as soon as their business dried up. Such is the case of Nektan too. What you will find most of the time is pieces of stories, that we have pieced together here for your convenience.

The company was established in 2011, so it was by no means a newcomer to the iGaming business. Casino and bingo gaming were the two main markets that the company was present in. However, they were never a company that procured games, rather they offered solutions for online casinos. A content aggregator in other words.

Short History of It All

Nektan was based in Gibraltar, where they pioneered their white-label casino software. It was around 2014 that the company really kicked into gear, as they listed in the stock market. They secured tons of initial funding, in what now seems to be “slightly” too optimistic foundations.

What followed was years of success and advances in casino platforms. Not only did the company support the creation of various online casinos, but their brand and products featured heavily across different media.

They also happened to launch their main products at the same time as mobile gaming was becoming popular. Thus their fresh take allowed for rising popularity through a platform that supported all ways of play, no matter if you were playing via iOS, Android or Windows devices.

The company provided two licences, one from Gibraltar and another one from the UK Gambling Commission. Though they are not as prominent today as they were a decade ago, they are still considered important for most market areas. On Top of this, you can add a long list of payment providers, including cryptocurrencies, and game providers including the giants like NetEnt.

And what happened then…

…was a disaster that began unfolding at the end of 2019. The exact reasons are probably lost to history, but more than likely it’s a combination of too fast growth, unrealistic assumptions, and increasing competition. Simply put, the company ran out of money around 2020, and could not scourge any more funding. This soon led to selling parts of the company for a pittance, which did nothing to stave off the eventual disaster. By the time the UK Gambling Commission revoked Nektan’s licence in 2021, the company was no longer operating any casinos.

Conclusion

Today parts of Nektan live on under the Markor Technology brand. Other parts of the company were sold to various customers, and integrated to the point of losing their previous identity completely. The brand as it is, is just another example of the rise and fall in the area of iGaming. Would you believe that Nektan was once hailed to become one of the biggest casino platforms? And now they’re gone for good.