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, will hold its Annual
General meeting today at noon today at 20 Warwick Street, London W1B 5NF.
At the meeting GAN’s Chief Executive Officer, Dermot Smurfit, will
make the following statement:
“Since last year’s AGM, GAN has been firmly focused on taking advantage
of the incremental U.S. Internet sports betting opportunity which we
launched online in New Jersey in September 2018. Since launch, sports
betting has driven substantial increases in our clients’ revenues, in
which GAN participates. We also prepared to launch Internet gambling in
Pennsylvania for the largest retail operator, Parx Casino, as well as
extending our relationship with FanDuel Group, the U.S. arm of Flutter
Entertainment plc (formerly Paddy Power Betfair plc) to rapidly deploy
our Platform in selected additional U.S. States. 2018 was clearly
therefore a pivotal year for GAN.
“Since the beginning of 2019, we have witnessed the rapid and
accelerating regulation of Internet gambling in other U.S. States
including Montana, Indiana, Iowa, Tennessee and Illinois. Today,
fifty-eight million (58M) Americans, representing nearly twenty percent
(20%) of the entire U.S. population now have legislation in place
permitting one or more forms of Internet gambling. Furthermore, Industry
analysts believe more than half of all Americans will be permitted to
gamble online as a result of accelerating incremental State-by-State
regulation within just a few more years.
“This regulatory driver obviously creates a unique opportunity for GAN
to leverage years of investment developing and optimizing its
best-in-class technology and provides an environment to maximize the
equity value of its unique U.S. industry position as a truly unique
enterprise software technology Platform enabling regulated intra-State
online gambling across America.
“Finally, we are especially pleased with our financial performance to
date, building on the momentum achieved during the first quarter, during
which we generated record revenues. All the Company’s operational KPI’s
continue to trend positively and therefore remain excited by the
potential for the remainder of the year, starting with the imminent
launch of Parx Casino in Pennsylvania.
“In conclusion, 2018 was a pivotal year for GAN, and we firmly believe
2019 will be another year of tremendous operational and financial
progress and I look forward to updating shareholders with our financial
results for the first half of the current financial year in due course.”
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190611005985/en/