Nexus International Under Gurhan Kiziloz: 2025’s Financial Report Released

The betting volume was $1.44 billion. Platform inflows hit $1.2 billion. Gross gaming revenue reached $264 million. EBITDA came in at $124 million. Net profit landed at $87 million. These are the 2025 financials of Nexus International, the gaming group owned entirely by Gurhan Kiziloz. Each figure connects to the next, tracing a path from user activity to founder earnings that runs through a business Kiziloz built, funded, and controls completely.

The $1.2 billion in platform inflows represents users depositing money into accounts across Nexus’s gaming platforms. Spartans.com serves a global audience with crypto-native features and instant payouts. Megaposta operates in Brazil with localised payments and Portuguese-first design. Users chose these platforms over alternatives, funding accounts that would be used for betting activity throughout the year.

The $1.44 billion in betting volume represents the total amount wagered across all platforms. This figure exceeds inflows because deposited funds cycle through multiple bets. A user deposits money, places a wager, wins, reinvests the winnings, and continues. Platforms with strong retention generate higher betting volume per dollar deposited because users remain engaged rather than withdrawing and leaving. The ratio of $1.44 billion wagered to $1.2 billion deposited reflects a user base that stays and plays.

The $264 million in gross gaming revenue represents what Nexus International retained after paying out winning bets. When users wager $1.44 billion, they win some and lose some. The amount they lose, after their wins have been paid, becomes the platform’s gross gaming revenue. This $264 million is the actual income generated by the business, the money available to cover costs and generate profit.

The $124 million in EBITDA represents what remained after operating the business. From $264 million in GGR, Nexus paid for sales and marketing, technology and platform development, general and administrative functions, and compliance and regulatory requirements. The $140 million spent on these functions represents the cost of running operations that process $1.44 billion in betting volume across multiple platforms and markets. The $124 million that remained, 47% of GGR, constitutes operating profit before accounting for depreciation, amortisation, and taxes.

The $87 million in net profit represents the final number, which belongs to the business and its owner after everything else was accounted for. Depreciation and amortisation reduced EBITDA to operating profit. Taxes took their share. What remained was $87 million in earnings attributable entirely to Gurhan Kiziloz, who owns 100% of Nexus International.

The chain from $1.44 billion wagered to $87 million earned describes a business designed to convert activity into ownership value. Each link in the chain represents decisions Kiziloz made about how Nexus would operate. The platforms were built to attract users who would deposit, stay, and wager repeatedly. The operations were structured to convert gross gaming revenue into EBITDA efficiently. The capital structure was kept simple, no outside investors, no complex financing, so that profit flowed directly to the sole shareholder.

This design reflects Kiziloz’s approach to building companies. He has spoken about the experience of seeking venture capital earlier in his career and being rejected. The rejection shaped his view of external funding, not as essential fuel for growth but as a constraint that brings governance obligations, reporting requirements, and stakeholders whose interests must be managed. Nexus was built without these constraints. The $87 million in profit belongs to Kiziloz alone because he never gave anyone else a claim on it.

The 2025 financials also reflect the business model’s maturity. Nexus International generated $124 million in EBITDA on $264 million in GGR, a margin that indicates operations running efficiently rather than still figuring out their economics. The company is not burning cash to acquire users at unsustainable rates or subsidising activity that generates volume without profit. The model works, and the numbers prove it.

Competitors at a similar scale often report different outcomes. Platforms backed by venture capital may show impressive volume figures alongside operating losses, sustained by external funding while they pursue growth. Publicly traded operators may generate profit but distribute it across shareholders, diluting the return to any single owner. Kiziloz’s position, sole owner of a profitable operation processing $1.44 billion in betting volume, is unusual in an industry where scale typically comes with complex ownership structures.

The numbers from 2025 are specific: $1.2 billion deposited, $1.44 billion wagered, $264 million retained as GGR, $124 million converted to EBITDA, $87 million earned as net profit. Behind these figures is a founder who built the operation himself, funded it himself, and kept every share.

Gurhan Kiziloz wagered on himself when he built Nexus International without outside capital. The 2025 financials show what that wager produced: $87 million earned solely in profits from $1.44 billion wagered. The house always wins, and Kiziloz owns the house.

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