New Jersey helps GAN increase revenues

New Jersey helps GAN increase revenues

GAN’s gross operator revenue more than doubled year-on-year to US$59.1 million. Credits: GAN

The online gambling developer was operating at records levels in the first quarter of the year.

US.- GAN has reported that the company experienced operations at record levels during the first quarter of 2019 due to online sports betting in New Jersey. The company said that it experienced strong momentum across all of its divisions.

During the first quarter of the year, GAN’s gross operator revenue more than doubled year-on-year to US$59.1 million, significantly higher than what the company registered during the same period in 2018, when it reported US$23.8 million. Quarter-on-quarter, the company registered an operator revenue jump of 41%.

The company’s active player-days increased 66% year-on-year to 5.3 million from 3.2 million. Active player-days increased 14% the compared to the fourth quarter of 2018. GAN’s Average revenue per active player-day is up 50% to US$11.2 from US$7.47 the year before and up 24% on the previous quarter.

“Internet Sports betting in New Jersey driven by national events such as the Super Bowl and NCAA college basketball’s ‘March Madness’ continued to fuel exceptional growth of gross operator revenue in this first quarter of 2019, as well as amplify the positive impact to casino revenues from the cross-over of sports gamblers to casino games,” said Chief Executive Dermot Smurfit.

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