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Strong October 19 Internet Gambling Growth For NJ

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RNS Number : 5508T
GAN PLC
15 November 2019
 

 

LONDON STOCK EXCHANGE (LSE): GAN

 

GAN Reports Strong October 2019 Internet Gambling

Growth For New Jersey

Internet Gambling Win Increased 136% from Prior Year Monthly Period

 

London | November 15, 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 November 14, 2019, by New Jersey's Division of Gaming Enforcement ("DGE") of Internet gaming and Internet sports betting financial information for the calendar month of October 2019 in New Jersey. 

 

Highlights from the DGE include:

·     Internet Gaming Win was $45.2 million in October compared to $26.8 million in the prior year period, reflecting a year-over-year increase of 69.0%.

·     Total Internet Sports Wagering Handle(1) was approximately $417.0 million for the month of October, compared to:

-    $374.2 million for the month of September 2019;

-    $249.2 million for the month of August 2019; and

-    $213.0 million for the month of July 2019.

·     Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of October were $38.7 million, compared to $8.8 million in October 2018, reflecting a year-over-year increase of 337.9%, and is further comparable to:

$29.4 million for the month of September 2019;

$19.2 million for the month of August 2019; and

$13.9 million for the month of July 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

Jack Wielebinski

Adam Prior

Head of Investor Relations

[email protected]

+1 214 799 4660

+1 212 371 8660

[email protected]

 

 

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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Quick facts: GAN PLC

Price: 145

Market: AIM
Market Cap: £123.55 m
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