Gaming group delivers industry-leading profitability as founder-led model proves structural advantage over institutional competitors
Nexus International, the privately held gaming group founded and wholly owned by Gurhan Kiziloz, has reported an EBITDA margin of 47% for its 2025 financial year, a figure that positions the company among the most operationally efficient operators in the global online gambling sector.
The group posted $124 million in EBITDA against $264 million in Gross Gaming Revenue, generating $87 million in net profit from $1.2 billion in platform inflows and $1.44 billion in total betting volume. The results were achieved without external capital, institutional backing, or the sponsorship-heavy acquisition models that define the company’s publicly traded peers.
The results arrive as the online gambling industry undergoes a structural transformation. The traditional fiat market, projected at $120 billion to $130 billion in 2026, continues to grow at 10-12% annually. But the crypto gambling sector is expanding at twice that rate. Players wagered over $81.4 billion at crypto casinos in 2025, a fivefold increase since 2022. Crypto now accounts for roughly 17% of all iGaming bets globally, driven by stablecoin adoption that has eliminated the volatility friction that once held the sector back.
The legacy giants, Flutter Entertainment, DraftKings, Bet365, are fighting a multi-front war. They hold massive brand equity and operate inside strictly regulated markets where licensing costs millions and takes years to secure. But they are also trapped in cash-burning marketing wars, spending hundreds of millions on television advertising, celebrity endorsements, and loyalty programmes. Flutter’s stock has dropped over 50% from its 2024 highs as Wall Street grows frustrated with inconsistent profitability. Corporate overhead, legal teams, and compliance departments compress margins that crypto-native operators avoid entirely.
The friction extends to the customer experience. When a high-roller deposits $50,000 on a legacy platform, they face bank holds, credit card blocks, and source-of-funds checks. Withdrawals take three to five business days. On a crypto platform, a player can deposit $100,000 in USDT from a hardware wallet, play 500 hands of blackjack, and withdraw winnings back to their wallet in under ten minutes.
Nexus International’s flagship brand, Spartans.com, has consolidated its position as the 14th largest crypto casino globally, driven by product fundamentals rather than marketing spend. The platform offers instant withdrawals across cryptocurrency and fiat channels, access to over 5,900 games, and localised user experiences across key markets.
Megaposta, the group’s Brazil-focused sportsbook, has established a significant foothold in one of the fastest-growing regulated gambling markets globally, capitalising on Brazil’s formalised licensing framework.
While Stake accumulates tens of millions in annual sponsorship costs across Everton FC, UFC, and Formula 1, increasingly resembling the traditional giants it once disrupted, while Rollbit manages user attrition following a 70% crash in its native token after bull-market tokenomics turned liability, and while BC.Game navigates regulatory repositioning and KYC friction after downgrading its license, Nexus International carries none of this baggage.
No sponsorship debt. No volatile token dependency. No regulatory retreat. No institutional overhead consuming margin.
The 47% EBITDA margin reflects a structure built for the crypto-native era: velocity of capital over compliance bureaucracy, global player pools over country-by-country operational buildout, yield over overhead. Legacy operators are running museums of compliance. Nexus International is running a high-speed financial operation.
Nexus International has indicated continued investment in platform infrastructure, geographic expansion, and product development. The group remains entirely founder-held, with Kiziloz maintaining sole decision-making authority over strategic and operational matters. No timeline for external capital or public listing has been disclosed.
The $87 million profit positions Nexus International among the most profitable privately held gaming operations globally, achieved without the institutional backing, sponsorship portfolios, or regulatory overhead that define its competitors.
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