Game Account Network has reported a pre-tax loss of £4.2m for 2017.

The company, which supplies software to online gaming companies, saw net revenues rise by more than £1.2m during the year. However costs remained high, rising slightly in the year to £13.2m.

GAN chief executive Dermot Smurfit said the results demonstrated that the company was seeing “sustained progress” in developing its business in the US.

He said GAN was “focusing on real money regulated gaming in New Jersey and simulated gaming for clients coast-to-coast across America”. GAN was also seeing sustained growth in Italy, he said.