GAN Reports Strong April 2019 Internet Gambling Growth For New Jersey
Total Internet Gaming Win Increased 58.9% from prior year monthly period
LONDON & DUBLIN–(BUSINESS WIRE)–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 May 14, 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 April 2019 in New Jersey.
Highlights from the DGE include:
- Internet Gaming Win was $36.6 million in April compared to $23.0 million in the prior year period, reflecting a year-over-year increase of 58.9%.
- Total Internet Sports Wagering Handle (1) was approximately $254.0 million for the month of April compared to $298.3 million for the month of March and $259.0 in the month of February 2019.
- Internet Sports Wagering Gross Revenues (2) (after payouts) for the month of April were $16.6 million, compared to March’s $24.3 million and February’s $15.5 million
- Combined (3) Internet Gambling Revenues were $53.1 million for the month compared to $63.4 million in the previous month, but up 131% on a year-over-year basis when compared to April 2018
| (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 | |
| (3) | Combined revenue includes casino games, poker and sports | |
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.
Contacts
GAN
Jameson Wang
Vice President, Investor Relations & Analytics
+1 (310) 384-1132
[email protected]
US Investors: The Equity Group
Adam Prior
[email protected]
212.371.8660
UK & Ireland Investors: Walbrook PR
Paul Cornelius
[email protected]
+44 20 7933 8780
Davy (Nominated Adviser, Euronext Growth Advisor and Joint Broker)
John Frain / Barry Murphy
+353 1 679 6363
Liberum (Joint Broker)
Neil Patel / Cameron Duncan
+44 (0) 20 3100 2000
This article published with permission from Business Wire
