GAN Sees big Increases in Q3 Revenue, driven by Strong Growth in US Sports Betting
GAN today announced the release of quarterly key performance indicators for the second and third quarters of 2018, highlighting continued strong momentum with the Company trading at record levels in Q3 2018.
+11.3% Quarter-on-Quarter increase in Gross Operator Revenue in Q3 2018 over Q2 2018 to $26.7M reflecting strong growth in real money regulated gambling in both Italy and New Jersey +8.6% Quarter-on-Quarter growth in Active Player-Days in Q3 2018 over Q2 2018 to 3,402,065 Active Player-Days
Significant growth experienced in New Jersey during Q3 2018 driven by the launch of GAN’s second New Jersey client Ocean Resort Casino and the commencement of regulated Internet Sports betting. July 10, 2018 the Company launched Ocean Resort Casino’s real money Internet gaming website (www.OceanOnlineCasino.com) together with a counterpart
Simulated Gaming website (www.OceanSocialCasino.com) September 1, 2018 the Company launched regulated Internet sports betting for client PaddyPower Betfair plc’s enlarged US business ‘FanDuel Group’ (http://sportsbook.FanDuel.com) September 12, 2018 the Company launched digital user acquisition & retention marketing in support of the Overseas Internet Casino (www.WinStar.com) provided by GAN’s Digital Marketing Agency in Tel Aviv, Israel.
Dermot Smurfit, CEO of GAN commented: “GAN traded at record levels during these past two quarters with significant growth in Q3 driven by the launch of our second New Jersey client of regulated gaming accelerated by the first month of US Internet sports betting in September. The new Key Performance Indicator ‘Gross Operator Revenue’ identifies the GAN-enabled revenues delivered to our clients operating their Simulated Gaming and/or Regulated Gambling business on our technology Platform, in which GAN participates.”
GAN continues its institutional outreach to the United States, where the Company conducts the predominant portion of its business activities. The expanded financial information flow supports the increasing number of suitably-qualified US institutional investors who engaged with GAN’s equity story in late 2016, 2017 and in 2018. This Quarterly publication discloses the Active Player-Days, Average Revenue Per Active Player-Day (ARPDAU) and Gross Operator Revenue, in which GAN participates worldwide in regulated real money Internet gambling markets and Simulated Gaming™.