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Strong PA Gambling Growth for October 2019

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RNS Number : 8263T
GAN PLC
19 November 2019
 

 

LONDON STOCK EXCHANGE (LSE): GAN

 

GAN Reports October 2019 Internet Gambling Growth For Pennsylvania

Internet Gambling Win Increased 8.8% from September

 

London | November 19, 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 18, 2019, by the Pennsylvania Gaming Control Board ("PGCB") of Internet gaming and Internet sports betting financial information for the calendar month of October 2019 in Pennsylvania. 

 

Highlights from the PGCB include:

·     Internet Gaming Win was $4.9 million in October, reflecting an increase of 19.5% from the prior sequential month.(1) This compares to:

-    $4.1 million for the month of September;

-    $3.4 million for the month of August; and

-    $0.8 million for the month of July.

·     Total Internet Sports Wagering Handle(2) was approximately $198.7 million for the month of October, compared to:

-    $158.2 million for the month of September;

-    $83.2 million for the month of August; and

-    $39.0 million for the month of July.

·     Internet Sports Wagering Gross Revenues(3) (after payouts) for the month of September were $14.5 million, compared to:

-    $13.7 million(4) for the month of September;

-    $6.3 million for the month of August; and

-    $2.9 million for the month of July.

 

(1)   Internet Gaming Win was misstated in the Company's previous press releases concerning Pennsylvania market data and has been adjusted accordingly in this announcement.

(2)   Gross amount of money accepted in wagers

(3)   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

(4)   This number was understated as $13.4 million in GAN's press release dated October 18, 2019, as it excluded gross revenues of $268,844 from Mount Airy casino.

 

This information will be updated and published each month, following publication by the PGCB, in order to enable the investor community to readily monitor growth of Internet gambling in Pennsylvania, 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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