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GAN PLC - January 2020 New Jersey Gaming Growth

RNS Number : 9863C
GAN PLC
14 February 2020
 

 

LONDON STOCK EXCHANGE (LSE): GAN

 

GAN Reports January 2020 Internet Gambling

Growth For New Jersey

Internet Gambling Win Increased 64% from Prior Year Monthly Period

 

London | February 14, 2020: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gambling software, services and online gaming content in the United States, today updated the market following the publication on February 12, 2020, by New Jersey's Division of Gaming Enforcement ("DGE") of Internet gaming and Internet sports betting financial information for the calendar month of January 2020 in New Jersey

 

Highlights from the DGE include:

·    Internet Gaming Win was $55.1 million in January, compared to $33.6 million in the prior year period, reflecting a year-over-year increase of 64.0%.

·    Total Internet Sports Wagering Handle(1) was approximately $471.1 million for the month of January, compared to:

-    $488.9 million for the month of December 2019;

-    $486.8 million for the month of November 2019; and

-    $417.0 million for the month of October 2019.

·    Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of January were $46.7 million, compared to $15.5 million in January 2019, reflecting a year-over-year increase of 200.4%, and is further comparable to:

$25.5 million for the month of December 2019;

$27.8 million for the month of November 2019; and

$38.7 million for the month of October 2019.

 

(1)   Gross amount of money accepted in wagers

(2)   Internet Sports Wagering Gross Revenues may vary from month to month due to the payouts for future events occurring months after the original wager was made and unredeemed winning wagers from prior months will become deductible upon redemption in future months

 

This information will be updated and published each month, following publication by the DGE, in order to enable the investor community to readily monitor growth of Internet gambling in New Jersey, which remains a key market for GAN.

 

About GAN Plc

GAN is a leading business-to-business ("B2B") supplier of internet gambling software-as-a-service solutions ("SaaS") to the US land-based casino industry. The Company has developed a proprietary internet gambling enterprise software system, GameSTACK™, which it licenses principally to land-based US casino operators as a turnkey technology solution for regulated real-money internet gambling, encompassing internet gaming, internet sports gaming and virtual Simulated Gaming. 

 

GAN is listed on the London Stock Exchange (LSE: GAN).

 

For more information please visit www.GAN.com.

 



 

For further information please contact:

 

GAN

US Investors: The Equity Group

Jack Wielebinski

Adam Prior

Head of Investor Relations

[email protected]

+1 214 799 4660

+1 212 371 8660

[email protected]

 

Carolyne Sohn

[email protected]

+1 415 568 2255

 

 

UK & Ireland Investors: Newgate Communications

 

Adam Lloyd

Giles Croot

 

[email protected]

 

+44 (0) 20 3757 6880

 

 

Davy (Nominated Adviser and Joint Broker)

 

 

John Frain / Barry Murphy

 

 

+353 1 679 6363

 

 

 

Liberum (Joint Broker)

 

 

Neil Patel / Cameron Duncan

 

 

+44 (0) 20 3100 2000

 

 

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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