GAN reports strong internet gambling growth

LONDON: GAN plc updated the market following the publication on December 12, 2019, by New Jersey’s Division of Gaming Enforcement (DGE) of Internet gaming and Internet sports betting financial information for the calendar month of November 2019 in New Jersey.

GAN is an award-winning developer and supplier of enterprise-level B2B Internet gambling software, services and online gaming content in the United States.

Highlights from the DGE include:

  • Internet Gaming Win was $49.1 million in November compared to $26.9 million in the prior year period, reflecting a year-over-year increase of 82.4%.
  • Total Internet Sports Wagering Handle(1) was approximately $486.8 million for the month of November, compared to:

–    $417.0 million for the month of October 2019;

–    $374.2 million for the month of September 2019; and

–    $249.2 million for the month of August 2019.

  • Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of November were $27.8 million, compared to $14.4 million in November 2018, reflecting a year-over-year increase of 92.4%, and is further comparable to:

o  $38.7 million for the month of October 2019;

o  $29.4 million for the month of September 2019; and

o  $19.2 million for the month of August 2019.

(1)   Gross amount of money accepted in wagers

(2)   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.

Bookmark the permalink.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.