US – GAN reports operator revenue growthBy William - 2 October 2019
Latest figures show that GAN has made a 203% growth in gross operator revenue year-over-year to $80.9 million.
This has been largely driven by strong growth in real money regulated gambling in the US.
Q3 results also demonstrate active player-days have increased by 59% over the past year, a quarter over quarter rise of 13.5%.
Dermot Smurfit, CEO of GAN, said: “The third quarter benefitted from stronger-than-expected demand for U.S sports betting during the seasonally weaker Summer months as well as the first month of American Football NFL season which commenced on September 5th and continues through to Super Bowl LIII on February 2nd 2020.”
The strong annual growth follows the repeal of PASPA by the U.S. Supreme Court in May of last year, which ended a 25-year-long Federal ban on sports betting.
GAN is a business-to-business supplier of internet gambling software solutions to the US land-based casino industry.
The Company has developed a proprietary internet gambling enterprise software system, GameSTACK, which it licenses principally to casino operators as a turnkey technology solution for regulated real-money internet gambling, encompassing internet gaming, internet sports gaming and virtual Simulated Gaming.
Mr. Smurfit added: “The exceptional growth rate year on year is exaggerated by mass-market U.S. internet sports bettors in New Jersey crossing over into the online casino before, during and after sports events, which is proving particularly lucrative for GAN.
This is together with a faster-than-anticipated ramp-up of Pennsylvania internet gamblers since launch in June 2019, which has seen more Pennsylvanians gambling online than residents of New Jersey.”