Sports betting drives GAN’s Q3 performance
A 202.7% increase in gross sports betting win during the third quarter helped GAN post impressive results in that period.
US.- GAN has released its financial report for the third quarter of the year, which indicates that sports betting’s performance in the US helped the company achieve good results in the three-month period.
GAN reported continued year-on-year growth reflecting high demand for internet sports betting and internet casino gaming in New Jersey and (launched during the third quarter) the State of Pennsylvania.
Gross gaming revenue and gross sports win from real money regulated sports betting increased 202.7% year-over-year and 47.3% quarter-over-quarter to US$80.9 million. Active player-days at 5.4 million is an increase of 59% year-over-year and increase of 13.5% quarter over quarter.
Dermot Smurfit, CEO of GAN commented: “Unprecedented year on year growth rate experienced in Q3 demonstrates our Platform technology’s ability to scale to meet the needs of our diverse clients seeking to operate Internet sports betting, at scale, in technically challenging U.S. intra-State markets following the repeal of PASPA by the U.S Supreme Court in May of last year, the 25year long-standing Federal bad on sports betting.
“The third quarter benefitted from stronger-than-expected demand for U.S sports betting during the seasonally weaker Summer months as well as the first month of American Football NFL season which commenced on September 5 and continues through to Super Bowl LIII on February 2, 2020.”
