GAN Reports April 2020 Internet Gambling Growth For New Jersey
May 14 2020 - 7:00AM
Business Wire
Internet Gambling Win Increased 56% from
Prior Year Monthly Period
GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading
business-to-business supplier of internet gambling
software-as-a-service solutions primarily to the U.S. land-based
casino industry, today updated the market following the publication
on May 13, 2020, by New Jersey’s Division of Gaming Enforcement
(“DGE”) of Internet gaming and Internet sports betting financial
information for the calendar month of April 2020 in New Jersey.
Highlights from the DGE include:
- Internet Gaming Win was $80.0 million in April, compared to
$36.6 million in the prior year period, reflecting a year-over-year
increase of 118.6%.
- Total Internet Sports Wagering Handle(1) was approximately
$54.6 million for the month of April, a significant decrease from
prior months as the result of most sporting events being canceled
during the global COVID-19 pandemic, which compares to:
- $163.4 million for the month of March 2020;
- $436.5 million for the month of February 2020; and
- $471.1 million for the month of January 2020.
- Internet Sports Wagering Gross Revenues(2) (after payouts) for
the month of April were $2.7 million, compared to $16.6 million in
April 2019, and is further comparable to:
- $13.3 million for the month of March 2020;
- $15.9 million for the month of February 2020; and
- $46.7 million for the month of January 2020.
(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.
About GAN Limited
GAN is a leading business-to-business supplier of internet
gambling software-as-a-service solutions predominantly to the U.S.
land-based casino industry. GAN has developed a proprietary
internet gambling enterprise software system, GameSTACK™, which it
licenses to land-based casino operators as a turnkey technology
solution for regulated real-money internet gambling, encompassing
internet gaming, internet sports gaming and virtual Simulated
Gaming.
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version on businesswire.com: https://www.businesswire.com/news/home/20200514005191/en/
Investors:
GAN Jack Wielebinski Head of Investor Relations (214)
799-4660 jwielebinski@GAN.com
The Equity Group Adam Prior (212) 371-8660
aprior@equityny.com
Carolyne Sohn (415) 568-2255 csohn@equityny.com
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