GAN highlights strong Q3 results
The gaming developer reported an increase in client revenue, helped by sports betting in New Jersey.
US.- GAN announced on Tuesday the release of quarterly performance indicators for the second and third quarters of the year and highlighted continued strong momentum, with the company trading at record levels in the last three-month period.
The operator said that gross revenue increased 32% year-on-year to US$24 million in the second quarter, while this number jumped to 40% (US$26.7 million) in the period from June to September 2018. The third quarter results were driven by the launch of the sports betting market in New Jersey, specifically with its partner FanDuel’s operations.
Dermot Smurfit, CEO of GAN said: “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.”
