GAN reports impressive Q2 revenue results
The online gambling supplier GAN has reported a 128% increase in gross operator revenue during the second quarter of the current year.
US.- GAN has experienced a great second quarter in terms of financial performance. The online gambling operator announced on Thursday its second-quarter financial results and highlighted a continued year-on-year growth.
The operator revealed that it registered a high demand for online sports betting and casino cross-selling from online sports bettors into online casino gaming in the state of New Jersey. For example, the active player-days at 4.8 million is an increase of 52% year-over-year. However, that result is also a 9.9% fall when compared to the previous quarter in 2019.
GAN’s gross operator revenue (GOR), which comprises gross revenue from simulated gaming, gross gaming revenue (GGR) and gross sports win, increased 128.3% year-over-year. GOR also decreased 7.3% quarter-over-quarter to US$54.8 million, driven by strong growth in regulated gambling in the US.
The CEO believes GAN’s execution after PASPA is working
Dermot Smurfit, CEO of GAN, said that the extraordinary growth rate experienced last quarter reinforces the company’s confidence in the US strategy executed by GAN after the repeal of PASPA. “[As well as] our Platform technology’s ability to scale to meet the needs of our diverse clients,” he added.
“The rapid rate at which states continued to legalise internet gambling in Q2 continues to validate our confidence in the US market opportunity and the seasonality in Q2 was both anticipated and exaggerated by US online sports betting.
“A dedicated Head of Investor Relations Mr Jack Wielebinski will lead our US investor relations efforts as well the implementation of an all-new GAN.com website before year’s end. which will include substantial content and features designed both to serve existing investors and better-inform prospective investors on GAN’s exciting equity story, products and services.”
