GAN well positioned for further growth
GAN PLC said it expects to achieve record earnings growth in 2019 as it intends to focus on US market in the second half of 2018.
The Internet gambling software supplier said it performed in line with market expectations during the first half of 2018.
For the reminder of the year, GAN plans to focus on the market size, share, and growth rate of internet sports gambling in New Jersey.
On Monday last week, the company said it delivered internet sports betting to its first client in the US, FanDuel Group, a subsidiary of Paddy Power Betfair PLC. The new product combines IGT’s sports platform and Paddy Power Betfair’s pricing, trading and risk management technology, along with a user interface designed for the US customer by the FanDuel.
In addition, GAN expects to secure permits from Pennsylvania’s regulator to launch internet real-money gambling for residents of the US state of Pennsylvania. On Friday, the company awarded a mandate to property litigation firm Irwin IP LLP to implement a US patent licensing and enforcement programme.
On Wednesday last week, GAN said it started operational marketing of its Overseas Internet Casino in Europe after restructuring of certain operations.
Looking ahead to 2019, GAN said its current sales pipeline and existing contracted clients are projected to propel the company to record revenue and earnings before interest, taxes, depreciation, and amortization growth.
GAN is due to release its half-year result on September 28.