GAN, the supplier of enterprise-level B2B Internet gaming software known as simulated gaming, has reported a record third quarter
The company reported a quarter-on-quarter increase in Gross Operator Revenue of 11.3 per cent to $26.7m reflecting strong growth in real money regulated gambling in both Italy and New Jersey
Quarter-on-Quarter growth in Active Player-was up 8.6 per cent with significant growth experienced in New Jersey during Q3 2018 driven by the launch of GAN’s second New Jersey client Ocean Resort Casino and the commencement of regulated Internet Sports betting.
In July the company launched Ocean Resort Casino’s real money Internet gaming website (www.OceanOnlineCasino.com) together with a counterpart Simulated Gaming website (www.OceanSocialCasino.com).
In September it launched regulated Internet sports betting for client PaddyPower Betfair plc’s enlarged US business ‘FanDuel Group’
Dermot Smurfit, CEO of GAN, said: “GAN traded at record levels during these past two quarters with significant growth in Q3 driven by the launch of our second New Jersey client of regulated gaming accelerated by the first month of US Internet sports betting in September. The new Key Performance Indicator ‘Gross Operator Revenue’ identifies the GAN-enabled revenues delivered to our clients operating their Simulated Gaming and/or Regulated Gambling business on our technology Platform, in which GAN participates.”
GAN continues its institutional outreach to the United States, where the Company conducts the predominant portion of its business activities. The expanded financial information flow supports the increasing number of suitably-qualified US institutional investors who engaged with GAN’s equity story in late 2016, 2017 and in 2018. This Quarterly publication discloses the Active Player-Days, Average Revenue Per Active Player-Day (ARPDAU) and Gross Operator Revenue, in which GAN participates worldwide in regulated real money Internet gambling markets and Simulated Gaming.