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August 2019 Internet Gambling Growth for NJ

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RNS Number : 2036M
GAN PLC
13 September 2019
 

 

LONDON STOCK EXCHANGE (LSE): GAN

 

GAN Reports Strong August 2019 Internet Gambling

Growth For New Jersey

Internet Gambling Win Increased 116% from prior year monthly period

 

London & Dublin - September 13 2019: 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 September 12, 2019, by the New Jersey's Division of Gaming Enforcement ("DGE") of Internet gaming and Internet sports betting financial information for the calendar month of August 2019 in New Jersey. 

 

Highlights from the DGE include:

·     Internet Gaming Win was $41.1 million in August compared to $24.8 million in the prior year period, reflecting a year-over-year increase of 65.7%.

·     Total Internet Sports Wagering Handle(1) was approximately $249.2 million for the month of August, compared to:

-    $213.0 million for the month of July 2019;

-    $226.7 million for the month of June 2019; and

-    $263.6 million for the month of May 2019.

·     Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of August were $19.2 million, compared to $3.1 million in the prior year period August 2018, reflecting a year-over-year increase of 514.7% and is further comparable to:

$13.9 million for the month of July 2019;

$6.9 million for the month of June 2019; and

$13.7 million for the month of May 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.  The Company has also launched digital user acquisition & retention marketing in support of the Internet Casino (https://casino.winstar.com) provided by GAN's Digital Marketing Agency in Tel Aviv, Israel.

 

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

Dermot Smurfit

Adam Prior

Chief Executive Officer

[email protected]

+44 (0) 20 7292 6262

212.371.8660

[email protected]

 

 

UK & Ireland Investors: Walbrook PR

 

Paul Cornelius

 

[email protected]

 

+44 20 7933 8780

 

 

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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Quick facts: GAN PLC

Price: 119.2

Market: AIM
Market Cap: £101.57 m
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