Share Name Share Symbol Market Type Share ISIN Share Description
Gan Plc LSE:GAN London Ordinary Share GB00BGCC6189 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -7.00 -4.91% 135.50 201,846 16:35:24
Bid Price Offer Price High Price Low Price Open Price
136.00 138.00 142.50 137.00 142.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 10.57 -6.69 -7.67 115
Last Trade Time Trade Type Trade Size Trade Price Currency
17:07:26 O 175 135.993 GBX

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Date Time Title Posts
09/12/201917:30GAMEACCOUNT NETWORK : gaming software/content developer6,249
29/4/201919:15GAN Plc (GAN) One to Watch 1

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Gan Daily Update: Gan Plc is listed in the Travel & Leisure sector of the London Stock Exchange with ticker GAN. The last closing price for Gan was 142.50p.
Gan Plc has a 4 week average price of 121p and a 12 week average price of 72.50p.
The 1 year high share price is 162p while the 1 year low share price is currently 41.50p.
There are currently 85,051,924 shares in issue and the average daily traded volume is 514,708 shares. The market capitalisation of Gan Plc is £116,521,135.88.
s1zematters: OK so Gan say they are looking at a NASDAQ listing; when exactly, in 2023? I believe they don't meet the minimum criteria for a listing as it stands! You need to meet one of the rules completely! Rule one, Average of $11mil earnings in the last three years. No! Rule 2 market cap above $550 mil. No! Rule 3 market cap above $850 mill or previous years revenue above or equal to $90m No! Rule 4 total assets $80 mil- market cap $160 mill - shareholder equity of $55 mil - share price over $4. NO! How exactly are they going to list on the NASDAQ, has any one asked them?
galatea99: igoe104: Dead right, value will be over £2 much quicker than people think. GAN is already into profit, even with only two states contributing very much and that only for a few months. Although we do not know the exact rates of commission GAN receives, on my calculations and assuming a mid-point rate in the range most frequently mentioned, we would need there to be gross operator revenues of about $300m a year to be comfortably into profit. That is without taking into account extra likely sources of profit such as licence fees received. In the first three quarters of 2019, we are already at $195m and the final quarter is already off to a cracking start, based on the published figures from New Jersey and Pennsylvania. With, reportedly, 65 cents from every dollar of extra commission falling straight to the bottom line, even after counting any additional operating costs, the profit ratchet effect is outstanding, especially given we are in a market still barely scratched and where every state in the US can see the tax income there to be had and state politicians salivating at all that extra cash they could have to waste. The London market is, imo, failing to see the big scene here, as is so often the case. The US listing ought to put a bomb under the share price.
noujay: I think those estimates are thin.Either way this full year revenues expected at £23m with 2020 estimated at £30m would be great progress and does not account for further states which will legislate and go live. Neither does it take into account much growth in existing states which there is likely to be since the markets are a long way from maturity.However, in valuation terms here's a few very broad and basic thoughts around it.SaaS businesses in the US have been recently discussed as being rated on 7.5-10 times revenues. That gives on the low end a capitalisation of £172.5m on today's numbers. Plus cash of last count £10m gives £182.5 and a share price of £2.02.This is the structural valuation uplift the company would likely enjoy via a US listing and that which DS has referred to several times.NB:This factors in no premium for the exploding US opportunity in terms of legislative progress.The reality is that since we are almost at the year end and the market looks forward it seems likely that we can factor in a valuation of between this and next year revenues (they are after all recurring). The midpoint of £25m would bring the share price to £2.32 with full year expectations from Davy coming in at £2.76.**both assume cash remains at £10m and the lowest range of valuation, which I very much doubt it would be as a tech company in US real money gaming.Anyway just a few thoughts. DYOR
trentendboy: Quite a relief to see the share price pause a while. Gives investor a chance to find the floor after profit taking before it continues upwards. News flow likely to continue, no UK exposure, TO could happen at any time (and at a good mark up). Need to solid figures to really secure the share price at these higher levels.
74tom: Bought in here today and intend to hold for the foreseeable future. One of the many positives of GAN are the regularity of it’s RNS updates and these should continue to drive the share price higher IMO. Key question; it seems to me as though the sky is the limit for revenue and profit (in time). If everything continues to progress to plan, what do people see as an attainable share price over the next couple of years? With the US listing next year, I’d like to think this could be £4-£5 by the end of 2020 as more states launch - yes this will likely be a ridiculous EV/EBITDA multiple for 2020, but I think the market will start to price in the inevitability of rapid profit growth in future years. What will EBITDA & PBT be when all 36 states are live?? Very exciting times ahead here.
rivaldo: Nice :o)) Https:// "Unprecedented year on year growth rate" in Q3. Plus "strong growth in real money regulated gambling in the US" Plus "Active Player-Days at 5.4 million is an increase of 59% year-over-year and increase of 13.5% quarter over quarter" Bounce coming methinks.... "The exceptional growth rate year on year is exaggerated by (i) mass-market U.S. Internet sports bettors in New Jersey crossing over into the online Casino before, during and after sports events, which is proving particularly lucrative for GAN; and (ii) the faster-than-anticipated ramp-up of Pennsylvania Internet gamblers, since launch in June 2019, which today sees more Pennsylvanians gambling online than residents of New Jersey, which has been online since November 2013 (with Internet sports betting since September 2018)."
busterdog2: Could someone explain why a US listing is seen to be beneficial to the share price over here? I know the presentation states that "valuations remained higher for US-SaaS operating businesses" in the US but I'm struggling to get my head round the thinking that the share price here will track that of the share price in the US. Thanks in anticipation.
rimau1: I hardly post but i am a LTH here, many thanks to Noujay for the regular updates that make great reading, this is def one of the better boards. The part I liked from the PPBF update was “we estimate the overall US opportunity to be 10 times that of New Jersey”. I also quite like the Gan price movement at the moment, when we were in the 60-70’s the stock became very volatile and encouraged a trading mentality, this feels like 50p is now the floor, and for me this is still a compelling entry price for anyone who missed the ridiculous 40’s. The outcome of the strategic review will be very interesting, firms rarely get a good price when they host the for sale sign versus being approached but as others have said a sale or strategic partnership is the only way Gan are going to grow scale quickly, speed is vital as the market deregulates, organic is too slow and Gan are too small, look how PPBF have stolen a march on Hills who were the original No1 incumbent in Nevada with the strongest brand.
igoe104: Good spot rimau1, it just makes you wonder how big GAN share price will be if more than 10 states open up over the next few years. I wouldn't surprised if GAN software isn't involved in every state that comes live. $$$$$$$$$$$$$$$$
martinthebrave: Graham Neary highlighting #GAN today. This will only help to lift the share price I bought more today at 60p & 69.5p. GAN (LON:GAN) •Share price: 70.5p (+7%) •No. of shares: 70 million •Market cap: £49 million Equity Subscription I'm not familiar with this company but it struck me as an interesting piece of news after the recent bombshell announcement by the US Supreme Court, which means that US states are now free to make their own rules on sports betting. Apparently, the black market in US sports betting is about 10x larger than the legal market, and much of this could be about to go legal. Shares in the tiddler Webis Holding (LON:WEB) have been powering higher, and so have shares in GAN (LON:GAN). GAN ("Gameaccountnetwork") is a provider of technologies, platforms and games to online casinos. Demand for GAN shares is so high, that the company has been able to raise £7.5 million at 50p, even with today's share price at 70p. GAN will be debt-free as a result, and: The Company plans to use the net proceeds of the Subscription to substantially increase GAN's software engineering resources to better serve existing major US clients' services such as the Overseas Internet Casino, launch new US clients and new services in the US in anticipation of Internet sports betting following the US Supreme Court's decision to lift the Federal Ban on sports betting delivered on May 14, 2018. The company has been unprofitable in recent years but perhaps it is going to turn the corner soon, with so much new opportunity? Worth investigating.
Gan share price data is direct from the London Stock Exchange
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