Internet Gambling Win Increased 116% 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 gambling software, services and online gaming content in the United States, today updated the market following the publication on September 12, 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 August 2019 in New Jersey.
Highlights from the DGE include:
- Internet Gaming Win was $41.1 million in August compared to $24.8 million in the prior year period, reflecting a year-over-year increase of 65.7%.
- Total Internet Sports Wagering Handle(1) was approximately $249.2 million for the month of August, compared to:
- $213.0 million for the month of July 2019;
- $226.7 million for the month of June 2019; and
- $263.6 million for the month of May 2019.
- Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of August were $19.2 million, compared to $3.1 million in the prior year period August 2018, reflecting a year-over-year increase of 514.7% and is further comparable to:
- $13.9 million for the month of July 2019;
- $6.9 million for the month of June 2019; and
- $13.7 million for the month of May 2019.
- Gross amount of money accepted in wagers
- 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
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).
For more information please visit www.GAN.com.
Contacts
For further information:
GAN
Dermot Smurfit
Chief Executive Officer
+44 (0) 20 7292 6262
dsmurfit@GAN.com
US Investors: The Equity Group
Adam Prior
aprior@equityny.com
212.371.8660
UK & Ireland Investors: Walbrook PR
Paul Cornelius
GAN@WalbrookPR.com
+44 20 7933 8780
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