GAN Reports US Online Gambling Record Results

GAN, an online gambling technology supplier has set records when it comes to the United States online gambling. The high numbers in the third quarter of 2018 are partly thanks to the new sports betting operations introduced in this country.

On Tuesday, GAN displayed key performance indicator also known as KPI for the three months ending September 30. Compared to the same period last year…

…a 13.3 percent rise has been recorded!

Also, the third quarter is much better than the second one in 2018 with an 8.6 percent increase. Meanwhile, average revenue per daily average is $7.85, which is yet another record for this company.

The Numbers Game

It is important to mention that “gross operator revenue” has been introduced in the latest report. It encomes “GAN-enabled” revenue that is accumulated via GAN’s Simulated Gaming social casino business…

…real money online gambling and real money sports betting

The numbers here are more than outstanding! For example in Q3, the metric stopped at $26.7 million and that is 40 percent higher compared to the same quarter in 2017. In comparison with the second quarter, GAN has made an incredible progress and the rise of 11.3 percent has been booked.

GAN CEO Dermot Smurfit praised the results which this company achieved in previous months. A part of the credit goes to the second online gambling launch in New Jersey…

…whereas it would be fair to mention the September launch of real money online sports betting for Paddy Power Betfair’s FanDuel brand, which is making its presence felt in that state.

The Expanding US Market

GAN is not the only gambling company that sees an opportunity in the United States. Sports betting has sky-rocketed and plenty of states are legalizing this form of gambling such as Pennsylvania, Delaware, New Jersey and many more.

Hard-Work in Pennsylvania

Due to this trend, GAN is confident to have the record-breaking 2019 in earnings. The company alerted that its H2 2018 performance depended on Pennsylvania regulatory bodies…

…and their quickness (or sluggishness) to approve the intrastate online gambling market

Even though GAN has submitted its online gambling technology vendor application in this state, the year of the launch will be 2019.

Consequently, professional service fees that are generated through its land-based partner Parx Casino, which received its sportsbook from Kambi, are not included in the revenue reports. This delay is not that bad…

…considering that it will give a head start to the company in the first quarter of 2019

Penning Deals

This company is working full steam. In October, GAN extended its Simulated Gaming relationship with regional casino operator JACK Entertainment which is active at three venues in Ohio.

Accidently or not, Ohio is another state expected to introduce sports betting, most likely next year and whether this technology supplier has plans in this aspect, remains to be seen. Meanwhile, GAN continues with its activities in the US.

Source:

“GAN hails record results on US online gambling, betting spread”, Peter Amsel, calvinayre.com, November 20th 2018