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GAN PLC (GAN)

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Monday 20 April, 2020

GAN PLC

PA Gambling Growth for March 2020

RNS Number : 1181K
GAN PLC
20 April 2020
 

 

LONDON STOCK EXCHANGE (LSE): GAN

 

GAN Reports March 2020 Internet Gambling Growth For Pennsylvania

Internet Gambling Win Increased 28.3% from December

 

London | April 20, 2020: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gambling software, services and online gaming content in the United States, today updated the market following the publication on April 16, 2020, by the Pennsylvania Gaming Control Board ("PGCB") of Internet gaming and Internet sports betting financial information for the calendar month of March 2020 in Pennsylvania. 

 

Highlights from the PGCB include:

· Internet Gaming Win was $24.3 million in March, reflecting an increase of 24.5% from the prior sequential month. This compares to:

$19.5 million for the month of February;

$14.0 million for the month of January; and

$10.6 million for the month of December.

· Total Internet Sports Wagering Handle(1) was approximately $118.3 million for the month of March, a significant decrease from prior months as the result of most sporting events being canceled during the global COVID-19 pandemic. This compares to:

$294.1 million for the month of February, which includes the Super Bowl, the largest single day for end user gambler activity and sports betting handle;

$308.6 million for the month of January; and

$297.4 million for the month of December.

· Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of March were $7.9 million. This compares to:

$10.8 million for the month of February;

$26.7 million for the month of January; and

$14.5 million for the month of December.

 

(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 PGCB, in order to enable the investor community to readily monitor growth of Internet gambling in Pennsylvania, which remains a key market for GAN.

 

About GAN Plc

GAN is a leading business-to-business ("B2B") supplier of internet gambling software-as-a-service solutions ("SaaS") to the US land-based casino industry. The Company has developed a proprietary internet gambling enterprise software system, GameSTACK™, which it licenses principally to land-based US casino operators as a turnkey technology solution for regulated real-money internet gambling, encompassing internet gaming, internet sports gaming and virtual Simulated Gaming. 

 

GAN is listed on the London Stock Exchange (LSE: GAN).

 

For more information please visit www.GAN.com.

 

 

 

For further information please contact:

 

GAN

US Investors: The Equity Group

Jack Wielebinski

Adam Prior

Head of Investor Relations

[email protected]

+1 214 799 4660

+1 212 371 8660

[email protected]

 

Carolyne Sohn

[email protected]

+1 415 568 2255

 

 

UK & Ireland Investors: Newgate Communications

 

Adam Lloyd

Giles Croot

 

[email protected]

 

+44 (0) 20 3757 6880

 

 

Davy (Nominated Adviser and Joint Broker)

 

 

John Frain / Barry Murphy

 

 

+353 1 679 6363

 

 

 

Liberum (Joint Broker)

 

 

Neil Patel / Cameron Duncan

 

 

+44 (0) 20 3100 2000

 

 

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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