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GAN PLC (GAN)

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Friday 15 March, 2019

GAN PLC

Internet Gambling Growth For New Jersey

RNS Number : 9477S
GAN PLC
15 March 2019
 

 

 

LONDON STOCK EXCHANGE (LSE): GAN - EURONEXT DUBLIN (EURONEXT GROWTH): GAME

GAN Reports Strong February 2019 Internet Gambling

Growth For New Jersey

Total Internet Gaming Win Increased 44.4% from prior year monthly period

 

London & Dublin - March 15, 2019: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today updated the market following the publication on March 13, 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 February 2019 in New Jersey. 

 

Highlights from the DGE include:

·     Internet Gaming Win was $31.7 million in February compared to $22.0 million in the prior year period, reflecting a year-over-year increase of 44.4%.

·     Total Internet Sports Wagering Handle (1) was approximately $259.0 million for the month of February 2019, slightly down from $305.0 in January 2019, but up from $241.0 million in December of 2018.

·     Internet Sports Wagering Gross Revenues (2) (after payouts) were $12.9 million, compared to January's $15.5 million and December's $14.7 million.

 

(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 such as the Super Bowl 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) and on Euronext Dublin (Euronext Growth: GAME).

 

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, ESM 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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