Stay Informed.News

GAN Provides May 2020 Internet Gambling Market Update for New Jersey

15 June, 2020
GAN Provides May 2020 Internet Gambling Market Update for New Jersey as Reported by Division of Gaming Enforcement
Internet Gambling Win Increased 84% from Prior Year Monthly Period
 
London | June 15, 2020: 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 June 12, 2020, by New Jersey’s Division of Gaming Enforcement (“DGE”) of historical Internet gaming and Internet sports betting financial information for the State of New Jersey during the calendar month of May 2020. 
 
Highlights from the DGE include:
  • Internet Gaming Win was $85.9 million in May, compared to $38.3 million in the prior year period, reflecting a year-over-year increase of 124.1%.
  • Total Internet Sports Wagering Handle(1) was approximately $117.8 million for the month of May, up 115.8% from the prior sequential month despite the continued suspension/cancellation of most sporting events during the global COVID-19 pandemic. This compares to:
    • $54.6 million for the month of April 2020;
    • $163.4 million for the month of March 2020, which was partially affected by the pandemic; and
    • $436.5 million for the month of February 2020, which includes the Super Bowl, the largest single day for end user gambler activity and sports betting handle.
  • Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of May were $10.1 million, compared to $13.7 million in May 2019, and is further comparable to:
    • $2.7 million for the month of April 2020;
    • $13.3 million for the month of March 2020; and
    • $15.9 million for the month of February 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
 
The information in this press release is taken from a report published by the DGE. The complete report is publicly available on the DGE’s website at https://www.nj.gov/oag/ge/financialandstatisticalinfo.html. GAN is providing the information to enable the investor community to more readily monitor Internet gambling in New Jersey, which remains a key market for GAN. The numbers and trends reported are for the overall market in New Jersey as reported by the DGE. They are not historical or expected results of operations 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.
 

 
Investor Contacts:
 
GAN
Jack Wielebinski
Head of Investor Relations
(214) 799-4660
[email protected]
 
The Equity Group
Adam Prior
(212) 371-8660
[email protected]
 
Carolyne Sohn
(415) 568-2255
[email protected]
 

Recent News

8 July, 2020
GAN Announces Addition to the Russell Indexes

London | June 29, 2020: 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 announced that the Company has been added to the Russell 2000®, Russell 3000® and Russell Microcap® Indexes, effective after the U.S. markets open on Monday, June 29, 2020, as part of the 2020 Russell U.S. Indexes reconstitution.

Read Full Article
17 June, 2020
GAN Provides May 2020 Internet Gambling Market Update for Pennsylvania

London | June 17, 2020: 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 June 16, 2020, by the Pennsylvania Gaming Control Board (“PGCB”) of historical Internet gaming and Internet sports betting financial information for the State of Pennsylvania during the calendar month of May 2020. 

Read Full Article
17 June, 2020
GAN Q1 2020 Results Investor Presentation

Below is a link to the GAN Q1 2020 Financial Results Investor Presentation.

GAN Q1 2020 Financial Results.pdf

Read Full Article
Top of page