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 November 14, 2019, by New Jersey’s Division of Gaming Enforcement (“DGE”) of Internet gaming and Internet sports betting financial information for the calendar month of October 2019 in New Jersey.
Highlights from the DGE include:
- Internet Gaming Win was $45.2 million in October compared to $26.8 million in the prior year period, reflecting a year-over-year increase of 69.0%.
Total Internet Sports Wagering Handle(1) was approximately $417.0 million for the month of October, compared to:
- $374.2 million for the month of September 2019;
- $249.2 million for the month of August 2019; and
- $213.0 million for the month of July 2019.
Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of October were $38.7 million, compared to $8.8 million in October 2018, reflecting a year-over-year increase of 337.9%, and is further comparable to:
- $29.4 million for the month of September 2019;
- $19.2 million for the month of August 2019; and
- $13.9 million for the month of July 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.