GAN (NASDAQ:GAN)
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RNS Number : 7489W

GAN PLC

13 December 2019

LONDON STOCK EXCHANGE (LSE): GAN

GAN Reports Strong November 2019 Internet Gambling

Growth For New Jersey

Internet Gambling Win Increased 86% from Prior Year Monthly Period

London | December 13, 2019: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gambling software, services and online gaming content in the United States, today updated the market following the publication on December 12, 2019, by New Jersey's Division of Gaming Enforcement ("DGE") of Internet gaming and Internet sports betting financial information for the calendar month of November 2019 in New Jersey.

Highlights from the DGE include:

-- Internet Gaming Win was $49.1 million in November compared to $26.9 million in the prior year period, reflecting a year-over-year increase of 82.4%.

-- Total Internet Sports Wagering Handle(1) was approximately $486.8 million for the month of November, compared to:

   -    $417.0 million for the month of October 2019; 
   -    $374.2 million for the month of September 2019; and 
   -    $249.2 million for the month of August 2019. 

-- Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of November were $27.8 million, compared to $14.4 million in November 2018, reflecting a year-over-year increase of 92.4%, and is further comparable to:

o $38.7 million for the month of October 2019;

o $29.4 million for the month of September 2019; and

o $19.2 million for the month of August 2019.

   (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

This information will be updated and published each month, following publication by the DGE, in order to enable the investor community to readily monitor growth of Internet gambling in New Jersey, which remains a key market for GAN.

About GAN Plc

GAN is a leading business-to-business ("B2B") supplier of internet gambling software-as-a-service solutions ("SaaS") to the US land-based casino industry. The Company has developed a proprietary internet gambling enterprise software system, GameSTACK(TM), which it licenses principally to land-based US casino operators as a turnkey technology solution for regulated real-money internet gambling, encompassing internet gaming, internet sports gaming and virtual Simulated Gaming. The Company has also launched digital user acquisition & retention marketing in support of the Internet Casino (https://casino.winstar.com) provided by GAN's Digital Marketing Agency in Tel Aviv, Israel.

GAN is listed on the London Stock Exchange (LSE: GAN).

For more information please visit www.GAN.com.

For further information please contact:

 
            GAN               US Investors: The Equity Group 
      Jack Wielebinski                  Adam Prior 
 Head of Investor Relations         aprior@equityny.com 
      +1 214 799 4660                 +1 212 371 8660 
    jwielebinski@GAN.com 
                              UK & Ireland Investors: Newgate 
                                       Communications 
                                        Adam Lloyd 
                                        Giles Croot 
                                   GAN@Newgatecomms.com 
                                   +44 (0) 20 3757 6880 
 
 
  Davy (Nominated Adviser 
     and Joint Broker) 
    John Frain / Barry 
           Murphy 
      +353 1 679 6363 
   Liberum (Joint Broker) 
   Neil Patel / Cameron 
           Duncan 
   +44 (0) 20 3100 2000 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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December 13, 2019 02:00 ET (07:00 GMT)