GAN PLC Strong NJ Gambling Growth for November 2019 (7489W)
13 December 2019 - 6:00PM
UK Regulatory
TIDMGAN
RNS Number : 7489W
GAN PLC
13 December 2019
LONDON STOCK EXCHANGE (LSE): GAN
GAN Reports Strong November 2019 Internet Gambling
Growth For New Jersey
Internet Gambling Win Increased 86% from Prior Year Monthly
Period
London | December 13, 2019: 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 December 12, 2019, by New Jersey's Division of
Gaming Enforcement ("DGE") of Internet gaming and Internet sports
betting financial information for the calendar month of November
2019 in New Jersey.
Highlights from the DGE include:
-- Internet Gaming Win was $49.1 million in November compared to
$26.9 million in the prior year period, reflecting a year-over-year
increase of 82.4%.
-- Total Internet Sports Wagering Handle(1) was approximately
$486.8 million for the month of November, compared to:
- $417.0 million for the month of October 2019;
- $374.2 million for the month of September 2019; and
- $249.2 million for the month of August 2019.
-- Internet Sports Wagering Gross Revenues(2) (after payouts)
for the month of November were $27.8 million, compared to $14.4
million in November 2018, reflecting a year-over-year increase of
92.4%, and is further comparable to:
o $38.7 million for the month of October 2019;
o $29.4 million for the month of September 2019; and
o $19.2 million for the month of August 2019.
(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
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(TM), 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.
For further information please contact:
GAN US Investors: The Equity Group
Jack Wielebinski Adam Prior
Head of Investor Relations aprior@equityny.com
+1 214 799 4660 +1 212 371 8660
jwielebinski@GAN.com
UK & Ireland Investors: Newgate
Communications
Adam Lloyd
Giles Croot
GAN@Newgatecomms.com
+44 (0) 20 3757 6880
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
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 rns@lseg.com or visit www.rns.com.
END
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December 13, 2019 02:00 ET (07:00 GMT)
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