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 April 15, 2020, by New Jersey’s Division of Gaming Enforcement (“DGE”) of Internet gaming and Internet sports betting financial information for the calendar month of March 2020 in New Jersey.
Highlights from the DGE include:
- Internet Gaming Win was $64.8 million in March, compared to $39.1 million in the prior year period, reflecting a year-over-year increase of 65.6%.
Total Internet Sports Wagering Handle(1) was approximately $163.4 million for the month of March, a significant decrease from prior months as the result of most sporting events being canceled during the global COVID-19 pandemic, which compares to:
- $436.5 million for the month of February 2020;
- $471.1 million for the month of January 2020; and
- $488.9 million for the month of December 2019.
Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of March were $13.3 million, compared to $24.3 million in March 2019, and is further comparable to:
- $15.9 million for the month of February 2020;
- $46.7 million for the month of January 2020; and
- $25.5 million for the month of December 2019.
Gross amount of money accepted in wagers
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™, 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.
GAN is listed on the London Stock Exchange (LSE: GAN).
For more information please visit www.GAN.com.