10801 West Charleston Boulevard, Suite 125
Las Vegas, NV 89135 United States
Phone: 1 (833) 565-0550

Key Personnel

Dermot Smurfit - CEO
Karen Flores - CFO
Simon Knock - COO
Jeff Berman - CCO
Marcus Yoder - SVP Sales

About GAN

At GAN (NASDAQ: GAN) we leverage our experience and expertise developed online over the last six years with leading U.S. Internet gambling operators. Our universal platform delivers a competitive advantage, resulting in higher conversion rates, better payment processing success rates, flexible choice of integrated Sports Betting modules, mature and fully-featured Internet casino (whether Simulated or Real Money) and the proven ability to deliver truly integrated convergence to leverage casino operators on-property rewards programs, through our patented process.

GAN is the leading platform with major clients of real money Internet gambling including FanDuel, Parx Casino, Ocean Casino & Resort, JACK Entertainment, and Churchill Downs Incorporated. GAN also offers a U.S. market leading B2B Social Casino solution branded ‘Simulated Gaming’, which leverages existing Casino reward programs to offer casino patrons a Social Casino experience, designed to generate incremental online revenue and drive visits to on-property venues. Native American operator clients of Simulated Gaming include San Manuel, Chickasaw Nation, Agua Caliente, Snoqualmie and Oneida Nation. Finally, GAN recently launched Penn Interactive’s newest mychoice® Social Casino app and website this past month to its 41 properties across 19 states. 

GAN’s guarantees 100% compliance globally, which ensures you can move online with our trusted and proven U.S. patented technology platform, and reputable specialist teams. Additionally, GAN provides first class managed services for Marketing (acquisition and retention) & Customer Service. Whether you’re interested in a fully-managed online gambling solution, or looking to augment existing customer service and marketing programs, GAN’s dedicated operational services teams have the local and global experience to support those needs. GAN has a best-in-breed platform with a demonstrable track record of operating across multiple states, designed to ensure success of our casino operator partners.

With operations in New Jersey, Pennsylvania, Nevada, California, and soon to be Michigan & Ohio, GAN’s mission to bring America’s casinos online is far from over and utilizes the enterprise technology system developed by GAN since 2002. To support our company mission, GAN officially went public on the NASDAQ stock exchange in May 2020 (NASDAQ: GAN) raising $62M in expansion capital in order to cement GAN’s market position as a leading player in the fast-growing U.S. Internet gambling market.

GAN Videos and Product Demos

Latest News

GAN Limited Announced Agreement to Acquire Coolbet

Acquisition of Coolbet’s best-in-class international sportsbook engine provides GAN with a full-service solution to real money gaming in U.S.

Combination brings additional scale, geographical reach and offers new market opportunities for GAN’s B2B technology and a new vertical through B2C

GAN Limited (the "Company" or "GAN") (NASDAQ: GAN), a leading business-to-business supplier of internet gaming software-as-a-service solutions primarily to the U.S. land-based casino industry, today announced that it has signed a definitive purchase agreement to acquire Vincent Group p.l.c. ("Coolbet") for a total consideration of approximately €149 million (subject to adjustment as provided in the Share Exchange Agreement). The acquisition is expected to close in the first quarter of 2021, subject to regulatory review and the satisfaction of certain closing conditions. GAN expects to fund the acquisition with new capital. Coolbet is an award-winning, Business-to-Consumer ("B2C") iGaming operator, with a footprint in Northern Europe, Canada, and Latin America in real money iGaming and online sports betting.

 

Acquisition Highlights:

  • Vincent Group p.l.c. brings Coolbet, a sports focused brand to GAN, which was founded by the industry veteran Jan Svendsen and is supported by proprietary software with one of the most experienced engineering and trading teams in the industry.

  • Coolbet achieved trailing-twelve-month revenue of €26 million and a 46% revenue CAGR from 2018 to 2020, making it one of the fastest growing European B2C iGaming operators today.

  • The acquisition will leverage Coolbet’s industry-leading, proprietary sports betting technology, which is anticipated to be integrated into GAN’s turnkey technology solutions for launch in the U.S. RMiG market by second half of 2021.

  • Provides additional opportunity to leverage GAN’s business-to-business ("B2B") experience and proprietary technology into Coolbet’s core markets and across its existing relationships with casino operators around the globe.

  • GAN to welcome over 175 new global employees and engineering talent, over 84,000 active customers in the third quarter of 2020, and an industry leading retention rate of 85% Quarter-on-Quarter in 2020.

  • Transaction is expected to close in the first quarter of 2021 and will be immediately accretive.

Dermot Smurfit Commented:

"From the onset of our IPO we have continued to enhance and perfect our internet gaming software-as-a-service solutions for the U.S. market. As a part of that growth strategy, we have been clear that we needed to add a best-in-class sportsbook engine to round out our real money iGaming platform, and we believe Coolbet is the perfect fit for both GAN and our customers. Coolbet launched in early 2016 in a hypercompetitive online market in Northern Europe and subsequently expanded into Latin America and Canada over the last two years. Since its launch, Coolbet has proven that its sportsbook offering is one of the best in the market today. Coolbet’s award winning user interface and proprietary technical platform will enable us to quickly introduce the sportsbook offering to our land-based casino customers across the U.S., who need a flexible and customizable solution to online gaming. Coolbet brings one of the most experienced teams of engineers in the industry and their technology is built on a similar architectural design as our own, which is anticipated to make the integration process fairly seamless. The timing of the acquisition ideally positions GAN to leverage its growing customer base, as well as the momentum that sports legislation has seen with the election results in Maryland, Louisiana, South Dakota, and Tennessee."

"Additionally, Coolbet is more than just the best sportsbook platform we vetted during our process. Coolbet has a well-established global business, a strong and loyal B2C customer base, and a diversified revenue stream. They are expert marketers and have grown their top-line over 46% in highly competitive and established markets in Northern Europe, Latin American and Canada. We will not only achieve scale and diversity across our revenue streams through this combination, but we also see a strong opportunity to leverage Coolbet’s expertise and relationships in other markets where our industry-leading B2B SaaS platform can be deployed."

"In summary, this union brings two of the best-in class, high-growth offerings in the iGaming space together, and makes a powerful combination. We expect to achieve significant revenue synergies across both platforms over the long-term and have structured the deal to be immediately accretive. We are excited to welcome the Coolbet team to GAN and look forward to building one of the most complete solutions in our industry. We view this acquisition as part of our unwavering commitment to shareholder value and our long-term growth strategy."

Coolbet Background

Vincent Group p.l.c. is a Malta public limited company that operates an online gaming platform under the flagship brand, Coolbet. Coolbet’s proprietary platform was uniquely developed in-house, and offers online real-money gaming in sports, casino, poker and virtual e-sports. Coolbet currently has approximately 175 full-time equivalents, primarily based in Tallinn, Estonia, and a management team with extensive experience in the RMiG industry. Currently, the Company has gambling licenses in Estonia, Sweden and Malta.

Coolbet was awarded start-up of the year in 2017 by International Gaming Awards, World’s Best Bookmaker in 2018 and 2019 by TIPS magazine, and mobile sports product of the year in 2019 and 2020 by the International Gaming Awards.

Revenue for the first nine months of 2020 was €18.6 million, split approximately 50% in sports betting and 50% in casino and other. Coolbet has customers in Norway, Sweden, Finland, Iceland, Estonia, Chile and recently expanded into Canada and Peru. Despite the impact of COVID-19 on its markets in the second quarter of 2020, the Company has achieved an EBITDA of €0.5M for the nine months ended September 30, 2020 and break-even Net Operating Income. Coolbet has previously raised €35 million in equity through private placements and currently has no debt.

Transaction Summary

GAN is acquiring Vincent Group p.l.c in an exchange offer for €149.1 million, on a cash-free, debt-free basis, through a combination of cash and stock. The transaction, which has been unanimously approved by GAN Limited’s board of directors, is expected to close in the first quarter of 2021. It is subject to customary closing conditions, including regulatory approvals.

B. Riley Securities provided a fairness opinion to the GAN board of directors with respect to the acquisition, and Sheppard, Mullin, Richter & Hampton LLP, is acting as GAN’s legal counsel.

GAN Expands Content Library Through New Partnership with High 5 Games

High 5 Games’ award winning casino games to be offered across all Real Money Gaming on the GAN platform

IRVINE, Calif.--span itemscope="itemscope" itemtype=")--GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading business-to-business supplier of internet gaming software-as-a-service primarily to the U.S. land-based casino industry, today announced a new content licensing agreement and partnership with High 5 Games (“High 5” ). The Agreement will bring High 5’s award winning content onto GAN’s U.S. Real Money Gaming (“RMG”) platform, and brings the total content library GAN offers to over 800 games.

High 5 Games is a leading online casino content provider in New Jersey and other regulated markets, with a reputation for bringing casino players the games they demand. By seamlessly integrating High 5’s content into GAN’s GameSTACK platform, players at regulated online casinos in New Jersey, Pennsylvania, and Michigan will gain access to more than 150 in-demand High 5 titles, including Double Da Vinci Diamonds, Triple Double Da Vinci Diamonds, and Secrets of the Forest. As more states green-light regulated casino gaming, High 5 will be there via the GameSTACK platform.

Jeff Berman, Chief Commercial Officer of GAN, commented:

“As we look to strategically grow our RMG content offerings and complement GAN’s industry-leading technology platform, we believe partnerships with well-respected content providers like High 5 Games will help us expand our market share and build sustainable momentum. Launching and integrating new content on the GAN platform further differentiates our platform and brings a full-service internet gaming experience to our virtual casino operating partners and consequently to their customers. We are excited about this new partnership with High 5 Games, and look forward to expanding our collaboration and to winning greater collective market share for both companies in the future.”

Anthony Singer, CEO of High 5 Games, commented:

“As we look to make an impact in more markets across the United States, we’re thrilled to add GAN to our arsenal of distribution channels. Players in New Jersey have experienced the joy of our real-money casino games for years — since 2008 on the casino floor and since 2013 online. The GameSTACK platform immediately puts our content on more devices, and as additional states bring regulated casino gaming online, we now have an incredible opportunity to entertain even more players all over the map.”

GAN Launches Simulated Gaming for Agua Caliente Casinos in California

Unique integrated product development creates seamless experience for top gaming operators across platforms

IRVINE, Calif..()-- GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading business-to-business supplier of internet gaming software-as-a-service solutions primarily to the U.S. land-based casino industry, today announces the launch of the Play Agua® social casino site and app for the Agua Caliente Casinos. The solution is powered by GAN’s core Simulated Gaming software, enabling casino operators to engage with their patrons through an authentic internet and mobile social gaming experience, even in states where legislation allowing licensed real money iGaming is yet to arrive. The unique software provides meaningful marketing, brand building, and revenue opportunities for both operators and GAN.

The Agua Caliente Band of Cahuilla Indians owns and operates three California-based locations: Agua Caliente Casino Palm Springs, Agua Caliente Resort Casino Spa Rancho Mirage, and coming later this fall, Agua Caliente Casino Cathedral City. As part of Agua Caliente’s efforts to bring a more robust experience to California players, GAN was selected to develop a custom solution bringing social casino gaming live on iOS, Android, and desktop while also integrating with Agua Caliente’s loyalty membership rewards program, the ACE Club. GAN will be also providing Marketing Services – acquisition and retention marketing as part of the service.

Jeff Berman, Chief Commercial Officer of GAN, commented: “We are excited that our unique Simulated Gaming software has been proven to seamlessly integrate with our customer’s exciting loyalty programs, while also expanding their access point to consumers. Our new partnership with Agua Caliente Casinos will help them provide an enhanced social casino gaming experience and gain awareness and exposure to new states. We look forward to expanding our partnership and growing with Agua Caliente over the next several years.”

Bill Oliver, CIO of Agua Caliente Casinos, commented: “GAN’s custom front end development and speed of delivery made them the right partner to introduce Play Agua®. We look forward to delivering existing and new customers with a seamless experience across all platforms, and are proud to have partnered with the industry’s leading provider.”

GAN Announces New Investor Relations Partnership with Alpha IR Group

Retains a leading IR consultancy in the U.S. to guide its investor messaging, supplement its institutional investor base, and provide strategic counsel on capital markets decisions

IRVINE, Calif.--(span itemscope="itemscope" itemtype="https://schema.org/Organization" "https://www.businesswire.com">)--GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading business-to-business supplier of enterprise software-as-a-service solutions for operating regulated Internet gambling, primarily serving the U.S. land-based casino industry, today announced a partnership with the Alpha IR Group (“Alpha IR”), as the Company looks to enhance its investor messaging and engagement strategy.

Dermot Smurfit, Chief Executive Officer of GAN, commented:

“GAN has developed a rapidly-growing business here in the United States that continues to build momentum and remains committed to continuous innovation and sustainable growth. We believe now is the time to invest in a strategic investor relations function as we look to educate the market on our long-term investment thesis. I am very pleased to announce our new partnership with Alpha IR Group, who will help us achieve stronger returns on our continuing IR efforts. They come highly recommended by a number of high-profile corporate executive teams, institutional shareholders and Wall Street firms. We look forward to the expertise that Alpha can provide to both our management team and board, as we enter our next stage of growth.”

Chris Hodges, CEO & Founder of the Alpha IR Group, commented:

“While our teams support companies across industries at various stages of their life cycles, we love the challenge and excitement of partnering with a high-profile company like GAN. GAN’s growth opportunity is clear and its investment thesis is highly compelling, and our entire team is very excited to bring a new level of value to GAN’s IR efforts. This will include co-developing a consistent and powerful message, a world-class set of IR materials, a focused and efficient investor targeting strategy, and a team that can deliver daily strategic and executional support. We look forward to a partnership that will deliver strong ‘alpha’ to all of GAN’s stakeholders.

GAN Launches New Simulated Internet Sports Betting

Product portfolio expansion delivers simulated Internet sports betting experience in advance of expected legislation in Ohio

October 12, 2020 02:08 PM Eastern Daylight Time
IRVINE, Calif.--(BUSINESS WIRE)--GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading business-to-business supplier of internet gaming software-as-a-service solutions primarily to the U.S. land-based casino industry, today announced the launch of a simulated Internet sports betting experience for an existing major midwestern region retail casino operator client and available at PlayJACK.com.

Available online, simulated sports betting represents a material extension of GAN’s current Simulated Gaming product and leverages the existing technical integration between GAN’s GameSTACK enterprise software platform, alongside sports betting technology partner Kambi.

Sports gamblers can easily sign up online, commence sports betting purely for entertainment purposes, and see how they perform relative to other sports gamblers in their state. All major U.S. sports events are available together with a full range of pre-game and in-running betting, powered by Kambi.

GAN’s retail casino operator clients of Simulated Gaming can now seek to gain an advantage previously only enjoyed by major Daily Fantasy Sports operators by acquiring future sports gamblers online today, at a lower marketing cost than the expected cost tomorrow, once the real money regulated sports betting market commences. Equipped with this ‘Industrial strength’ simulated sports wagering experience, GAN clients can now appeal to and engage online with the young-to-middle-aged male sports gambler who sits at the center of the Internet sports gambling consumer demographic and future Internet sports betting revenue opportunity.

Management anticipates the addition of simulated sports betting to accelerate sales of Simulated Gaming to additional U.S. retail casino operators. GAN’s integrated solutions offer both simulated Internet casino gaming to our partners’ existing retail customers, as well as simulated sports betting that will appeal to a younger consumer demographic not already present within their retail casinos.

Tom Ustunel, Vice President of Gaming Operations, commented: “The addition of simulated Internet sports betting is a natural extension of our existing product offering with key partners, as it offers sports bettors, in any state, the ability to participate in active sporting events with the added benefit of full integration with rewards program. We will continue to work closely with relevant partners on all aspects of our current and subsequent rollouts, including plans for the launch of real money Internet sports betting and casino gaming, pending regulation.”

GAN Signs 10-Year Agreement with Wynn Resorts to Provide iGaming and Internet Sports Betting in Michigan

IRVINE, Calif-GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading business-to-business supplier of internet gambling software-as-a-service solutions to the U.S. land-based casino industry, today announced that Wynn Resorts, Limited (“Wynn”) (NASDAQ: WYNN) has engaged GAN in a 10-year agreement to be the enterprise software platform for its Internet sports betting and Internet casino gaming business in the State of Michigan. The Company expects to launch Wynn online in Michigan alongside the first regulated online gambling operators in November 2020, subject to all regulatory approvals. The Michigan launch between GAN and Wynn will be a part of the market access agreement between GAN and the Sault Ste. Marie Tribe of Chippewa Indians, who operate five casinos under the Kewadin Casinos brand in Michigan, announced on March 27, 2020.

By leveraging GAN’s U.S.-optimized enterprise software, proven get-to-market capability and on-property reward program integration capability, Wynn will be well-positioned as an early mover in the state of Michigan following its commencement of online gaming activities. Furthermore, as a major national casino brand operating casinos in both Las Vegas and Boston Massachusetts, Wynn has a substantial database of patrons’ resident within the Michigan region to cross-market to Internet gambling.

Together with a market-leading range of Internet casino games developed by GAN and/or aggregated from third parties, GAN will publish third-party sports betting content procured from a third-party sports betting content provider augmented by Wynn’s strategic partner Betbull Limited.

Jeffrey B. Berman, Chief Commercial Officer of GAN, commented:

“We look forward to powering the Wynn brand in Michigan with our highly optimized technology platform and enabling Wynn to efficiently invest their marketing capital to attract loyal sports betting and iGaming players. We are pleased to onboard Wynn, with its national casino brand and substantial Michigan-region patron base, as a major operator client and are excited at the opportunity presented by potential roll-outs in multiple additional states in the future.”

GAN to Participate in Upcoming Investor Conferences

LONDON--(BUSINESS WIRE)--GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading business-to-business supplier of internet gambling software-as-a-service solutions to the U.S. land-based casino industry, today announced that management is scheduled to present and participate in virtual one-on-one meetings at the following upcoming investor conferences.

The LD Micro 500
Dates: September 1-4, 2020
Corporate presentation on Tuesday, September 1, 2020, at 4:20 p.m. ET, available via live webcast and in archive for up to 90 days following the conclusion of the event here

B. Riley FBR Online Sports Betting and iGaming Conference
Date: September 8, 2020
Corporate presentation on Tuesday, September 8, 2020, at 12 p.m. ET
Investors must register in advance to view the live webcast presentation and may do so here. Upon completing registration, investors will receive a confirmation email containing information about how to access the presentation.

GAN Launches Major New Client: Penn Interactive

LONDON--(BUSINESS WIRE)--GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading business-to-business supplier of internet gaming software-as-a-service solutions primarily to the U.S. land-based casino industry, today announces the launch of the mychoice® social casino app, powered by GAN’s Simulated Gaming software and delivered to Penn Interactive, a subsidiary of Penn National Gaming, Inc. (“Penn National”) (together “Client”). Simulated Gaming is a core offering of GAN, which enables casino operators to provide social gaming offerings to players in states in advance of real money iGaming, providing meaningful marketing and revenue opportunities for both operators and GAN.

Penn National is the largest single casino operator in the United States to select GAN as its enterprise software service provider of B2B social gaming. The mychoice® social casino app, which launched today, will be fully integrated with Penn National’s mychoice® player loyalty program, which currently has over 20 million members.

Penn Interactive, a wholly owned subsidiary of Penn National Gaming, operates retail sports betting, online social casino, bingo and iCasino products across Penn National’s industry leading portfolio of 41 properties in 19 states. Together with Penn National’s properties, Simulated Gaming will now be served to casino patrons of more than 100 individual casino properties coast to coast in the U.S. The Client is the 17th U.S. casino operator to license GAN’s specialist software, which permits patrons to link reward cards to their online Simulated Gaming account and receive reward points automatically triggered by the patrons’ diverse online activities.

Jeff Berman, Chief Commercial Officer of GAN, commented:

“We are proud to have been selected by a genuine giant of gaming to upgrade their long-standing B2B social casino offering with a uniquely diverse Simulated Gaming content portfolio accessed via an enhanced custom front-end development and a full integration into Penn National’s market leading reward program, leveraging our unique patented technical capability to deliver on-property to online convergence for their carded patrons. We hope this marks the beginning of a partnership that may grow beyond the opportunity of Social Gaming for GAN.”

Jon Kaplowitz, Head of Penn Interactive, commented:

“The combination of GAN’s great team and proven ability to deliver quality products makes them an ideal partner for Penn. Our mychoice® social casino app will be a fun, free-to-play casino experience, and will allow our mychoice® members to continue to earn valuable loyalty points from the comfort of their homes.”

GAN Announces New Simulated Gaming Client: Route 66 Casino Hotel, New Mexico

LONDON--(BUSINESS WIRE)--GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading business-to-business supplier of internet gambling software-as-a-service solutions to the U.S. land-based casino industry, today announced the signing of a binding agreement with Laguna Development Corporation (“LDC” or the “Client”) to supply its Simulated Gaming software to the Client’s Route 66 Casino property located just outside of Albuquerque, New Mexico, with new services anticipated to launch to customers in Q3 2020.

LDC owns and operates the Route 66 Casino Hotel and Dancing Eagle Casino in New Mexico. Route 66 Casino features a gaming floor with over 1,700 slot and video poker machines, 26 table games, a 500-seat bingo hall, and a dedicated poker room with 10 tables. The agreement with GAN will enable the Client to provide an expanded suite of online gaming and services throughout the region and beyond.

The agreement also provides GAN with the opportunity to supply online sports wagering to LDC in New Mexico, should enabling legislation and corresponding regulatory approvals come to pass.

The Client is the 18th U.S. casino operator to license GAN’s specialist software, which permits patrons to link reward cards to their online Simulated Gaming account and receive reward points automatically triggered by the patrons’ diverse online activities. It is the eighth major Native American casino operator in the United States to select GAN as its online gaming software service provider since the launch of Simulated Gaming in 2014.

Jeff Berman, Chief Commercial Officer of GAN, commented:

“We are pleased to begin this partnership with LDC in bringing its Route 66 Casino online with our Simulated Gaming solution. New Mexico gaming is an over $1 billion industry, and we look forward to working closely with LDC to further engage and increase its customer base as GAN continues to strengthen its position as the leading B2B enterprise software solution provider to U.S. land-based casinos.”

Tim Perkins, Chief Operating Officer of LDC, stated:

“In the current environment, simulated gaming is more important than ever to our brands. We are extremely pleased with GAN and excited about the technology they bring to the table for our guests. We are looking forward to the launch and a long partnership into the future.”

GAN Launches Real Money Internet Gambling in Pennsylvania for Cordish Gaming Group

LONDON--(BUSINESS WIRE)--GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading business-to-business supplier of internet gambling software-as-a-service solutions to the U.S. land-based casino industry, today announced the launch of the new “PlayLive!” branded Internet gambling business in the Commonwealth of Pennsylvania for Cordish Gaming Group (“Cordish”), the gaming division of The Cordish Companies.

GAN successfully deployed the real money gaming operation in just 72 days following the execution of a definitive agreement, once again validating GAN’s rapid delivery process. This launch, which leverages the “Live! Rewards” customer rewards program, enables residents of Pennsylvania to enroll in advance, online, for their Live! Rewards Players Card and engage with a full range of gambling content including Internet slots, table games and non-traditional online gambling games. This launch comes ahead of two new Live!-branded gaming facilities in Pittsburgh and Philadelphia, expected to open in late 2020 and early 2021, respectively.

Live! is an existing client of GAN’s Simulated Gaming, which launched online in 2015 as an amenity complementing the Live! Casino & Hotel at Arundel Mills in Hanover, Maryland, and is GAN’s third client of real money Internet gambling enterprise software in the State of Pennsylvania.

Dermot Smurfit, CEO of GAN Limited, stated:

“We are pleased to have launched ‘PlayLive!’ on behalf of Cordish, one of the nation’s leading casino and entertainment companies and an existing GAN client, and look forward to continuing to support the growth of their business by providing a seamless and entertaining online experience for their users.”

GAN to Present at Canaccord GenuityConference

GAN will present in the Canaccord Genuity 40th Annual Virtual Growth Conference on August 12 at 3:30 p.m. ET, as well as hold one-on-one meetings. The event will be live here

GAN Appoints Business Development Executive Marcus Yoder as Senior Vice President of Sales

LONDON--(BUSINESS WIRE)--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 the appointment of Marcus Yoder as Senior Vice President of Sales, reporting to Chief Commercial Officer Jeff Berman. His primary responsibilities include sales, services and B2B marketing.

Jeff Berman, Chief Commercial Officer of GAN, commented:

“We are thrilled to welcome Marcus to our team. His years of experience and expertise in leading companies into new markets—driving revenue growth, building strategic alliances, innovating marketing and product campaigns, and negotiation/diplomacy with government entities and key stakeholders—both within and without the gaming technology industry will prove invaluable as GAN continues to execute on its growth strategy. While we have had great recent success in winning new clients, Marcus will play a key role in helping us to accelerate the progress we make in our new business pipeline as additional states and markets come online.”

Mr. Yoder commented:

“I am pleased to be joining GAN at this exciting juncture in the Company’s growth trajectory. Having been living and breathing the gaming technology industry for the past decade, I clearly see the opportunity that lies before us and look forward to working closely with Jeff and the GAN team on driving the go-to-market strategy forward in the months and years ahead.”

Mr. Yoder possesses over 20 years of business development and marketing experience in a variety of industries, including high tech, consumer electronics and life sciences. Mr. Yoder most recently served as Vice President, Regulated Markets Business Development at Gamblit Gaming, LLC, a leading technology provider focused on enabling a wide range of game genres to accommodate gambling experiences in online and on-site deployments worldwide. From 2010 to 2014, Mr. Yoder served as Executive Director, IGT Interactive, where he drove the go-to-market strategy, sales and global business development for the $154 million online and mobile division for Las Vegas-based multinational gaming company International Game Technology.

Mr. Yoder earned a bachelor’s degree in German and International Management from the University of Tennessee and an International MBA, Finance and Marketing from the University of Chicago’s Booth School of Business.

GAN Provides June 2020 Internet Gambling Market Update for Pennsylvania as Reported by the Pennsylvania Gaming Control Board

LONDON--()--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 July 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 June 2020.

Highlights from the PGCB include:

  • Internet Gaming Win was $50.1 million in June, reflecting a decrease of 10.4% from the prior sequential month. This compares to:
    • $55.8 million for the month of May;
    • $43.1 million for the month of April; and
    • $24.9 million for the month of March.
  • Total Internet Sports Wagering Handle(1) was approximately $88.3 million for the month of June, up 13.9% from the prior sequential month despite the continued suspension/cancellation of most sporting events during the global COVID-19 pandemic. This compares to:
    • $77.5 million for the month of May;
    • $46.0 million for the month of April; and
    • $118.3 million for the month of March, which was partially affected by the pandemic.
  • Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of June were $8.1 million. This compares to:
    • $5.9 million for the month of May;
    • $3.2 million for the month of April; and
    • $7.9 million for the month of March.

(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 PGCB. The complete report is publicly available on the PGCB’s website at www.gamingcontrolboard.pa.gov. GAN is providing the information to enable the investor community to more readily monitor Internet gambling in Pennsylvania, which remains a key market for GAN. The numbers and trends reported are for the overall market in Pennsylvania as reported by the PGCB. 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.

Contacts

Investors:

GAN
Jack Wielebinski
Head of Investor Relations
(214) 799-4660
jwielebinski@GAN.com

The Equity Group
Adam Prior
(212) 371-8660
aprior@equityny.com

Carolyne Sohn
(415) 568-2255
csohn@equityny.com

GAN Provides June 2020 Internet Gambling Market Update for New Jersey as Reported by Division of Gaming Enforcement

Total Internet Gambling Win Increased 117% from Prior Year Monthly Period

LONDON--()--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 July 14, 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 June 2020.Highlights from the DGE include:
  • Internet Gaming Win was $84.9 million in June, compared to $38.1 million in the prior year period, reflecting a year-over-year increase of 123.1%.
  • Total Internet Sports Wagering Handle(1) was approximately $165.0 million for the month of June, up 40.1% from the prior sequential month despite the continued suspension/cancellation of most sporting events during the global COVID-19 pandemic. This compares to:
    • $117.8 million for the month of May 2020;
    • $54.6 million for the month of April 2020; and
    • $163.4 million for the month of March 2020, which was partially affected by the pandemic.
  • Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of June were $12.8 million, compared to $6.9 million in June 2019, and is further comparable to:
    • $10.1 million for the month of May 2020;
    • $2.7 million for the month of April 2020; and
    • $13.3 million for the month of March 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.

 

Contacts

Investor Contacts:

GAN
Jack Wielebinski
Head of Investor Relations
(214) 799-4660
jwielebinski@GAN.com

The Equity Group
Adam Prior
(212) 371-8660
aprior@equityny.com

Carolyne Sohn
(415) 568-2255
csohn@equityny.com

GAN Announces Addition to the Russell 2000®, Russell 3000® and Russell Microcap® Indexes

LONDON--()--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.

Dermot Smurfit, CEO of GAN Limited, stated:

We are pleased to have earned our inclusion in the Russell Indexes, which will increase GAN’s exposure within the investment community and allow for the opportunity to broaden our shareholder base. We are at an incredibly exciting point in GAN’s history after listing on the Nasdaq just a few weeks ago and look forward to capitalizing on the tremendous opportunity before us as the online gambling market continues to expand across the U.S.”

The annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks at the close of the market on May 8, 2020, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in either the large-cap Russell 1000® Index or the small-cap Russell 2000® Index, as well as the appropriate growth and value style indexes.

The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity market. The index is a subset of the Russell 3000® Index and represents approximately 10 percent of the total market capitalization of that index. The Russell Microcap® Index represents 2,000 small cap and microcap stocks and captures the smallest 1,000 companies in the Russell 2000®, in addition to 1,000 smaller U.S.-based listed stocks.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.

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.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the anticipated expansion of the online gambling market in the United States and the Company’s ability to capitalize on related opportunities, as well as statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate” and similar statements of a future or forward-looking nature. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update or revise any forward-looking statements for any reason, except as required by law.

Contacts

Investor Contacts:

GAN
Jack Wielebinski
Head of Investor Relations
(214) 799-4660
jwielebinski@GAN.com

The Equity Group
Adam Prior
(212) 371-8660
aprior@equityny.com

Carolyne Sohn
(415) 568-2255
csohn@equityny.com

GAN Provides May 2020 Internet Gambling Market Update for Pennsylvania as Reported by the Pennsylvania Gaming Control Board

LONDON--(BUSINESS WIRE)--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.

Highlights from the PGCB include:

Internet Gaming Win was $55.8 million in May, reflecting an increase of 29.7% from the prior sequential month. This compares to:


$43.1 million for the month of April;
$24.9 million for the month of March; and
$19.5 million for the month of February.


Total Internet Sports Wagering Handle(1) was approximately $77.5 million for the month of May, up 68.4% from the prior sequential month despite the continued suspension/cancellation of most sporting events during the global COVID-19 pandemic. This compares to:


$46.0 million for the month of April;
$118.3 million for the month of March, which was partially affected by the pandemic; and
$294.1 million for the month of February, 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 $5.9 million. This compares to:


$3.2 million for the month of April;
$7.9 million for the month of March; and
$10.8 million for the month of February.


(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 PGCB. The complete report is publicly available on the PGCB’s website at www.gamingcontrolboard.pa.gov. GAN is providing the information to enable the investor community to more readily monitor Internet gambling in Pennsylvania, which remains a key market for GAN. The numbers and trends reported are for the overall market in Pennsylvania as reported by the PGCB. 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.

Contacts

Investor Contacts:

GAN
Jack Wielebinski
Head of Investor Relations
(214) 799-4660
jwielebinski@GAN.com

The Equity Group
Adam Prior
(212) 371-8660
aprior@equityny.com

Carolyne Sohn
(415) 568-2255
csohn@equityny.com

GAN Provides May 2020 Internet Gambling Market Update for New Jersey as Reported by Division of Gaming Enforcement

LONDON--(BUSINESS WIRE)--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.

GAN Announces Cordish Gaming Group as a Major New Client of Internet Gambling in Pennsylvania

LONDON--()--GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading business-to-business supplier of internet gambling software-as-a-service solutions to the U.S. land-based casino industry, today announced that Cordish Gaming Group, the global gaming division of The Cordish Companies, has engaged GAN as their enterprise software Platform provider to power their new “PlayLive!” branded Internet gambling business in the State of Pennsylvania, complementing the development of two new Live!-branded gaming facilities in Philadelphia and Pittsburgh.

The new Live! Casino & Hotel, located in the Stadium Entertainment District in the City of Philadelphia, will be a world-class hotel, gaming & entertainment destination featuring 2,200 slot machines and 150+ live action table games. The second new Live! Casino, located in Westmoreland County, near Pittsburgh, will feature more than 100,000 square-feet of gaming, dining and entertainment space, including 750 slots and approximately 30 live action table games. Both locations are expected to open in 2020.

Leveraging the nationally-recognized "Live! Rewards" customer loyalty program, this new Internet gambling destination website and counterpart mobile apps will launch in Fall 2020, in advance of the new Live! Casino openings—the first time a branded online gambling site has launched prior to the bricks and mortar facility. "PlayLive" will enable residents of Pennsylvania to enroll in advance, online, for their Live! Rewards Players Card, and feature a full range of gambling content for end users to engage with, encompassing Internet slots, table games and non-traditional online gambling games.

Live! is an existing client of GAN’s Simulated Gaming launched online in 2015 as an amenity complementing the Live! Casino & Hotel at Arundel Mills in Hanover, Maryland, proving once again the strategic advantage of GAN deploying this entertainment-only form of Internet gaming years in advance of regulated, intrastate, real money Internet gambling. In doing so, GAN increases the propensity of Simulated Gaming clients to extend their relationship with the Company to encompass real money Internet gambling.

Live! Casino will be GAN’s third client of real money Internet gambling enterprise software in the State of Pennsylvania, expanding GAN’s real money Internet gambling operations in the U.S. These operations now include the following states—New Jersey, Pennsylvania, Indiana, and Michigan and Ohio, both of which are expected to commence in the first half of 2021.

Management Commentary

Dermot Smurfit, CEO of GAN Limited, stated:

"We’re delighted to expand upon our long-standing relationship with one of America’s premier commercial real estate families. Bringing Pennsylvania’s newest casino online later this year will be a genuine privilege, and we look forward to supporting their on-property gaming business by leveraging our U.S. patented iBridge Framework, bridging the Internet gambling experience with that of retail gaming. Online will remain the growth driver of this Industry for decades to come, not just in Pennsylvania but across the nation."

Robert J. Norton, President of Cordish Gaming Group, stated:

"With our established relationship, GAN was the logical provider of our enterprise platform for launching real money Internet gambling and offers Cordish the ability to extend on-property rewards into the online channel, which has been shown to increase loyalty amongst players of Simulated Gaming."

This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful before registration or qualification under the securities laws of any such state or jurisdiction.

About GAN Limited

GAN is a leading business-to-business supplier of internet gambling software-as-a-service solutions to the U.S. land-based casino industry. GAN has developed a proprietary internet gambling enterprise software system, GameSTACK™, which it licenses principally to land-based U.S. casino operators as a turnkey technology solution for regulated real-money internet gambling, encompassing internet gaming, internet sports gaming and virtual Simulated Gaming.

 

About Live! Casinos & Hotels

Live! Casinos & Hotels set a new standard in best-in-class customer experiences with highly-acclaimed resort, casino and entertainment destinations throughout the Mid-Atlantic region. Live! delivers a renowned blend of world-class amenities, award-winning accommodations, headline entertainment and an exciting, spontaneous atmosphere that has become synonymous with the Live! brand nationwide – "when you go LIVE! anything can happen." Live! offers a premier gaming experience, including a strategic partnership with FanDuel Group, to bring unique promotions and sports engagement opportunities to all Live! properties. With a commitment to impeccable customer service and treating guests like part of the family, the flagship Live! Casino & Hotel, located in the Washington, DC/Baltimore corridor, has a AAA Four Diamond rating and is the #1 tourist destination in Maryland. Live! attracts more than 10 million visitors per year seeking a unique setting with gaming, dining, entertainment and shopping, all in one location. Two new Live! properties are soon to open in Philadelphia and Pittsburgh, transforming each location into first-class, must-see gaming and entertainment destinations. Live! Casinos & Hotels are owned and operated by companies that are affiliated with world-renowned developers The Cordish Companies. Visit LiveCasinoHotel.com.

Forward-Looking Statements

This press release contains forward-looking statements that are subject to the safe harbors created under federal securities laws. Words such as "anticipate," "believe," "expect," "intend," "may," "will," and similar expressions are intended to identify forward-looking statements. The forward-looking statements in this press release include statements about the Company’s expectations regarding the closing of its proposed initial public offering and the anticipated use of proceeds from the offering. These statements involve risks, estimates, assumptions and uncertainties that could cause actual results to differ materially from those expressed in these statements, including, among others, risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the proposed offering, as well as risks and uncertainties associated with the Company’s business and finances in general. Because the risks, estimates, assumptions and uncertainties referred to above could cause actual results or outcomes to differ materially from those expressed in any forward-looking statements, readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update or revise any forward-looking statements for any reason, except as required by law.

https://www.businesswire.com/news/home/20200528005301/en/" rel="nofollow noopener" target="_blank">https://www.businesswire.com/news/home/20200528005301/en/" data-reactid="40" style="margin: 0px 0px 1em;">View source version on businesswire.com: https://www.businesswire.com/news/home/20200528005301/en/

Contacts

Investors:

jwielebinski@GAN.com"; rel="nofollow" shape="rect">jwielebinski@GAN.com

The Equity Group
Adam Prior
(212) 371-8660
aprior@equityny.com"; rel="nofollow" shape="rect">aprior@equityny.com

Carolyne Sohn
(415) 568-2255
csohn@equityny.com"; rel="nofollow" shape="rect">csohn@equityny.com
" data-reactid="43" style="margin: 0px 0px 1em;">GAN
Jack Wielebinski
Head of Investor Relations
(214) 799-4660
jwielebinski@GAN.com

The Equity Group
Adam Prior
(212) 371-8660
aprior@equityny.com

Carolyne Sohn
(415) 568-2255
csohn@equityny.com

GAN Provides April 2020 Internet Gambling Market Update For Pennsylvania as Reported by the Pennsylvania Gaming Control Board

LONDON--()--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 May 18, 2020, by the Pennsylvania Gaming Control Board (“PGCB”) of Internet gaming and Internet sports betting financial information for the State of Pennsylvania during the calendar month of April 2020. 

Highlights from the PGCB include:

  • Internet Gaming Win was $43.1 million in April, reflecting an increase of 73.1% from the prior sequential month. This compares to:
    • $24.9 million for the month of March;
    • $19.5 million for the month of February; and
    • $14.0 million for the month of January.
  • Total Internet Sports Wagering Handle(1) was approximately $46.0 million for the month of April, a significant decrease from prior months as the result of most sporting events being canceled during the global COVID-19 pandemic. This compares to:
    • $118.3 million for the month of March, which was partially affected by the pandemic; 
    • $294.1 million for the month of February, which includes the Super Bowl, the largest single day for end user gambler activity and sports betting handle; and
    • $308.6 million for the month of January.
  • Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of April were $3.2 million. This compares to:
    • $7.9 million for the month of March;
    • $10.8 million for the month of February; and
    • $26.7 million for the month of January.

(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 PGCB. The complete report is publicly available on the PGCB’s website at www.gamingcontrolboard.pa.gov. GAN is providing the information to enable the investor community to more readily monitor Internet gambling in Pennsylvania, which remains a key market for GAN. The numbers and trends reported are for the overall market in Pennsylvania as reported by the PGCB. They are not historic 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.

Contacts

Investor Contacts:

GAN
Jack Wielebinski
Head of Investor Relations
(214) 799-4660
jwielebinski@GAN.com

The Equity Group
Adam Prior
(212) 371-8660
aprior@equityny.com

Carolyne Sohn
(415) 568-2255
csohn@equityny.com

GAN Reports April 2020 Internet Gambling Growth For New Jersey

Internet Gambling Win Increased 56% from Prior Year Monthly Period

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 May 13, 2020, by New Jersey’s Division of Gaming Enforcement ("DGE") of Internet gaming and Internet sports betting financial information for the calendar month of April 2020 in New Jersey.

Highlights from the DGE include:

Internet Gaming Win was $80.0 million in April, compared to $36.6 million in the prior year period, reflecting a year-over-year increase of 118.6%.
Total Internet Sports Wagering Handle(1) was approximately $54.6 million for the month of April, a significant decrease from prior months as the result of most sporting events being canceled during the global COVID-19 pandemic, which compares to:
$163.4 million for the month of March 2020;
$436.5 million for the month of February 2020; and
$471.1 million for the month of January 2020.
Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of April were $2.7 million, compared to $16.6 million in April 2019, and is further comparable to:
$13.3 million for the month of March 2020;
$15.9 million for the month of February 2020; and
$46.7 million for the month of January 2020.

GAN Limited to Ring the Nasdaq Stock Market Opening Bell in Celebration of its U.S. Initial Public Offering

London | May 7, 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 the Company’s CEO Mr. Dermot S. Smurfit will ring the opening bell of the Nasdaq Stock Market on Thursday, May 7, 2020, at 9:30 a.m. ET to commemorate the Company’s recent IPO and Nasdaq listing.

The virtual ceremony will begin at approximately 9:20 a.m. ET and can be viewed live at https://livestream.com/nasdaq/live.

Mr. Smurfit stated“This is a historic week for our Company, the culmination of several years of hard work by all our employees, and we are thrilled to be ringing the opening bell at Nasdaq following our successful IPO and listing. We believe this is only the beginning of GAN’s success. As the online gambling and sports betting industry continues to mature and as additional states pass requisite legislation and eventually come online, we are prepared to deliver as the go-to SaaS provider for land-based casinos in the U.S.”

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.

GAN Reports March 2020 Internet Gambling Growth For Pennsylvania

London | April 20, 2020: 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 16, 2020, by the Pennsylvania Gaming Control Board ("PGCB") of Internet gaming and Internet sports betting financial information for the calendar month of March 2020 in Pennsylvania.

Highlights from the PGCB include:

· Internet Gaming Win was $24.3 million in March, reflecting an increase of 24.5% from the prior sequential month. This compares to:

- $19.5 million for the month of February;

- $14.0 million for the month of January; and

- $10.6 million for the month of December.

· Total Internet Sports Wagering Handle(1) was approximately $118.3 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. This compares to:

- $294.1 million for the month of February, which includes the Super Bowl, the largest single day for end user gambler activity and sports betting handle;

- $308.6 million for the month of January; and

- $297.4 million for the month of December.

· Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of March were $7.9 million. This compares to:

- $10.8 million for the month of February;

- $26.7 million for the month of January; and

- $14.5 million for the month of December.

(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 PGCB, in order to enable the investor community to readily monitor growth of Internet gambling in Pennsylvania, which remains a key market for GAN.

GAN Reports March 2020 Internet Gambling Growth For New Jersey

London | April 17, 2020: 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.

(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

What Shareholders Need to Know…

An FAQ about GAN's Scheme of Arrangement and Anticipated NASDAQ Listing

London | April 9, 2020: 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 provided an FAQ on the Company's previously announced Scheme of Arrangement in connection with its anticipated NASDAQ listing.

1)            Why is GAN doing this?

We believe that the move to trading in the United States will benefit our operations and our shareholders.

GAN raised £15m in 2013 to pursue growth opportunities in the United States, when Internet gaming was first regulated in a handful of States. Since then, GAN has seen meaningful increase in the addressable U.S. market opportunity as a result of Internet sports betting starting in 2018, following a favourable judgment by the U.S. Supreme Court. Last year, in 2019, more than 80% of our total revenue originated in the U.S. with the balance from Europe. Today we have a growing number of U.S. shareholders, including both small and large and institutional investors as the core business of GAN becomes overwhelmingly U.S. facing, as originally intended. We expect a U.S. listing to generate market information and public relations opportunities that will enhance our reputation and create operational opportunities in the United States.

We believe that a NASDAQ listing will create a number of favourable results for GAN shareholders, including, but not limited to: ease of share purchasing on a U.S. exchange for U.S. investors; increased liquidity (number and value of shares bought/sold every day); increased access to cheaper capital (should we even need more capital, in the future); additional research coverage by U.S. banks (whereas we only have two research analysts covering our shares in the UK); and enhanced reporting standards (quarterly reporting versus semi-annual).

2)            Will GAN maintain a dual listing in the U.S. and the UK?

No. We intend that GAN will be listed exclusively on the NASDAQ within short order, targeting before the end of April 2020. The Company believes this is most favourable for our current position. We expect NASDAQ to afford greater liquidity based on its history as a leading global market for technology and software companies, which would better support GAN's potential equity appreciation. Furthermore, a single listing reduces regulatory complexity and cost, which would be greater if GAN remains listed on both the UK and U.S. markets.

3)            I am a current shareholder of the Company's shares listed in London on the AIM market. What will I have to do now?

Nothing. Any shares you hold (either in your own name or through a custodian or nominee in CREST) will be automatically translated into the same value of shares in GAN Limited on the relevant date (currently anticipated to be towards the end of April 2020), subject to the UK Scheme of Arrangement becoming effective on completion of the U.S. fundraising and Nasdaq listing. Once it is in a position to do so, the Company will make an announcement confirming the date your stockbroker (or other custodian) will be automatically holding U.S. Dollar-denominated shares in GAN Limited freely tradeable on NASDAQ by your stockbroker. For certificated holders, the U.S. Transfer Agent will contact you with a notification confirming the number of GAN Limited shares held on your behalf.

Should you receive any dividends from GAN Limited or (in due course) elect to sell your GAN Limited shares listed on NASDAQ, you may need to complete a form for the U.S. tax authority, called a W-8BEN form, which is easy to complete and widely available.

4)            Will I receive new U.S. shares and how will the conversion work?

Yes. If the Scheme of Arrangement becomes effective, GAN's shareholders will receive shares in GAN Limited, the new Bermuda parent company of GAN's overall group.

As noted in the Scheme of Arrangement, there will be an exchange of 1 share in the current UK-listed GAN plc for every 0.25 share of the new NASDAQ-listed company, as well as a payment of 2.32p. Another way of looking at the same calculation is that 4 shares of GAN plc will be exchanged for 1 share of GAN Limited plus 9.28 GBp in cash (4 x 2.32 GBp).

Example: If the transaction had completed on April 7, 2020, the closing market price on April 7, 2020, would have been used for calculating the U.S. shares. Accordingly, £1.49 per share in GAN plc would have converted at the prevailing foreign exchange rate of USD 1.23 per GBP 1.00 and the calculation would be as follows:

4 shares in GAN plc x £1.49 = £5.96 x $1.24 = $7.33. You would have received 1 share in GAN Limited valued at $7.33 tradeable on NASDAQ on April 8, 2020, together with £0.0928 (9.28p) in cash.

*Please note, these illustrative conversion numbers will be subject to change, as GAN plc's share price continues to fluctuate in normal trading throughout April.

5)            What is a Scheme of Arrangement?

A Scheme of Arrangement is a UK legal process, sanctioned by GAN's shareholders and the UK Court, used to effect the reorganisation of GAN which will facilitate GAN's listing from the UK to the U.S.

If the Scheme of Arrangement becomes effective, GAN Limited, a Bermuda incorporated company, will become the new parent company of the group and the existing parent company, GAN plc, will become a wholly owned subsidiary of GAN Limited.

6)            Is the Company raising money, and if so, why?

Yes. As part of the NASDAQ listing there will be a capital raise targeting a minimum of $35M (approximately £28M). GAN prides itself on operating as a lean, efficient company with no debt and ended 2019 with $10M+ in cash. The capital raise is intended to establish a broader investor base to enhance trading liquidity. The additional capital will also further enhance GAN's capital resources, enabling the Company to scale and rapidly capitalize on growth opportunities.

7)            Was there a Shareholder vote on the NASDAQ listing?

Yes. Shareholders voted at the General Meeting on March 31, 2020, to pass the special resolution to (among other things) implement the Scheme, amend the articles of association of GAN plc and cancel admission of the Company's shares to AIM once listed on NASDAQ, to ensure there is no single trading day when the GAN's shares cannot be bought or sold on an investment exchange (either the London Stock Exchange or the NASDAQ). More than 99% of votes cast at the Court Meeting (each of which were cast by proxy) were in favour of the Scheme.

8)            What is the timing of the U.S. listing?

The Company expects to list on the NASDAQ within 30 days of the shareholder meeting completed on March 31, 2020. Directionally, this overall process should be completed before the end of April 2020, subject to market conditions.

9)            Where will GAN trade?

GAN will trade on The NASDAQ Capital Market.

10)          What will the ticker symbol be?

The Company's NASDAQ ticker symbol will be "GAN."

About GAN Plc
GAN is an award-winning 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 plc is presently listed on the London Stock Exchange (LSE: GAN).

For more information please visit www.GAN.com.

For further information please contact:

GAN
Jack Wielebinski
Head of Investor Relations
+1 214 799 4660
jweilebinski@GAN.com

US Investors: The Equity Group
Adam Prior
aprior@equityny.com
+1 212 371 8660

Carolyne Sohn
csohn@equityny.com
+1 415 568 2255

UK & Ireland Investors: Newgate Communications
Adam Lloyd
Giles Croot
GAN@Newgatecomms.com
+44 (0) 20 3757 6880

Davy (Nominated Advisor and Joint Broker)
John Frain / Barry Murphy
+353 1 679 6363

Liberum (Joint Broker)
Neil Patel / Cameron Duncan
+44 (0) 20 3100 2000

GAN Reports February 2020 Internet Gambling Growth For Pennsylvania

London | March 30, 2020: 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 March 18, 2020, by the Pennsylvania Gaming Control Board ("PGCB") of Internet gaming and Internet sports betting financial information for the calendar month of February 2020 in Pennsylvania.



Highlights from the PGCB include:

· Internet Gaming Win was $19.5 million in February, reflecting an increase of 39.6% from the prior sequential month. This compares to:

- $14.0 million for the month of January;

- $10.6 million for the month of December; and

- $9.7 million for the month of November.

· Total Internet Sports Wagering Handle(1) was approximately $294.1 million for the month of February, compared to:

- $308.6 million for the month of January;

- $297.4 million for the month of December; and

- $266.7 million for the month of November.

· Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of February were $10.8 million. This compares to:

- $26.7 million for the month of January;

- $14.5 million for the month of December; and

- $17.3 million for the month of November.

GAN Confirms Internet Gambling in the State of Michigan

London | March 27, 2020: 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 provides more information on the previously confirmed closure of certain market access arrangements with the Sault Tribe of Chippewa Indians ("Tribe") in the State of Michigan, following the December 23, 2019, passage into Michigan law HB 4311, a bill that includes provisions for the legalization of full real money Internet casino gaming in the State of Michigan as well as Internet sports betting.

In Michigan, GAN will be providing its technology Platform together with certain operational services to both the Tribe's five land-based Kewadin casino properties and an existing major U.S. casino operator client of GAN ("Client") that has requested anonymity pending certain regulatory approvals.

With a population of 10.0 million (3.1% of the U.S. population), the Michigan Internet gambling market is forecast to generate $377 million in Gross Operator Revenue in the first 12 months of operations, increasing to $836 million in the fourth operating year (source: Regulus Partners, an International gambling consultancy).

Due to the extent of the Client's substantial assets, this Client's Internet gambling business is currently anticipated to be a significant contributor to GAN's full year revenues in 2021.

Management Commentary

Jeff Berman, Chief Commercial Officer of GAN, commented:

"Michigan has long represented an attractive market with both Internet sports and Internet casino gaming now regulated. Our technical expertise and 'day one' experience in multiple U.S. Internet gambling markets will enable the Sault Tribe to capture their share of the online opportunity and we thank them for their trust in forming this relationship with GAN and our major U.S. casino operator client whose identity will be confirmed in due course. We are incredibly excited to bring real money Internet gambling to Michigan, which remains at the core of our mission, strategy and purpose in the United States."

GAN Announces Public Filing of Registration Statement on Form F-1 for U.S. Listing on the Nasdaq; Provides 2019 Financial Overview / Trading and COVID-19 Update

London | March 25, 2020: 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 provided a market update including an update in light of the recent developments regarding COVID-19.

The Company maintains online only gaming operations, and the successful implementation of “Work from Home” was completed on March 13. As a wholly digital business, GAN has not experienced any interruption in technical development, and/or technical operations conducted to support its clients. Furthermore, early indications of a material shift from retail gambling to online gambling is anticipated to be positive for GAN’s overall revenue opportunity during this time.

Update on the Nasdaq Listing
The Board of Directors, in consultation with its financial advisers, continues to be committed to the Nasdaq listing following the issuance of the UK Scheme of Arrangement documents to shareholders on March 13, 2020, with a shareholders meeting scheduled for March 31, 2020. The Company is publicly filing a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (the “SEC”) today relating to the proposed public listing of common stock in GAN Limited. The public listing is expected to take place after the SEC completes its review process, subject to market and other conditions. The number of ordinary shares to be offered and the price range for the proposed offering have yet to be determined.

The Form F-1 registration statement has not yet become effective. These securities to be registered may not be sold nor may offers to buy be accepted prior to the time when the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Securities may not be offered or sold in the United States absent registration or an exemption from registration, and any public offering of securities to be made in the United States will be made solely by means of a prospectus that may be obtained from the Company and that will contain detailed information about the Company and management, as well as financial statements.

The Form F-1 filing includes certain financial information for the year ended December 31, 2019, which is summarized below. A copy of the Form F-1 can be sourced at https://www.sec.gov/edgar/search-and-access.

2019 Financial Overview

  • Net Revenue of $30.0m (2018: $14.0m), an increase of 114% on 2018

  • Adjusted EBITDA1 of $8.4m (2018: loss of $1.7m)

  • Income before tax of $2.4m (2018: loss of $8.6m) and earnings per share of $0.08 (2018: loss per share of

    $0.39)

  • Income for the year of $1.8m (2018: loss of $7.7m)

  • Cash and cash equivalents at the end of the year of $10.1m (2018: $7.0m)

  • Total Assets at the end of the year of $26.1m (2018: $22.6m)

  • Concluded FY 2019 with strong, debt-free balance sheet and $2.8m positive cash flow for the year

1 Adjusted EBITDA is a non-GAAP Company specific measure and excludes interest, tax, depreciation, amortisation, share based payment expenses, impairment of intangible assets and other items which the directors consider to be non- recurring and one time in nature.

Real Money Internet Gambling in the U.S.
Taking the State of New Jersey as the bellwether for U.S. Internet gambling, since February 23 we have conducted an extensive review of the expected impact of COVID-19 on Internet gambling together with the International gambling consultancy Regulus Partners, and the Company comments as follows:

  • Prior to March 12, 2020, the New Jersey Internet gambling market was expected to generate $976M in gross revenue in 2020, comprising $312M from sports betting and $665M from Internet gaming;

  • Internet gaming in New Jersey may increase +2% to $677M, to reflect the substitution effect as Internet sports bettors shift a proportion of their wallet into Internet gaming, which the Company has already experienced as an emerging trend. For illustrative purposes only, daily new first-time depositors of GAN client Ocean Casino Resort increased +719% against the month-to-date daily average with a +57% increase in the value of daily deposits, on the first day after Atlantic City shuttered all retail casino properties consequent to local government direction;

  • Internet sports betting in New Jersey may decline -14% in the full year 2020 from $312M to $255M, which the Company has already experienced as an emerging trend. This assumes the regular U.S. sports calendar substantially resumes in August 2020 and the 2020/21 NFL Sports betting season commences in September 2020 (“Impact Period”);

  • Internet sports betting revenues in Q1 2020 were ahead of expectations as on the date the Impact Period commenced (March 12, 2020) and, despite subsequent material reduction in sports betting revenues, are expected to remain ahead of expectations for Q1 (Internet sports betting revenues were approximately 12.4% of participatory recurring revenues in 2019); and

  • Gross Operator Revenues in Q1 2020 are currently estimated to be in excess of $140M, up from $120.8M in Q4 2019 with Gross Operator Revenues from Internet casino gaming in the United States increased +341% YoY since the commencement of the Impact Period on March 12.

    Other Business Units

    Italian Regulated Gaming Market

    In the Italian regulated Internet gambling market, the Company has seen significant increases of betting activity by end user gamblers, in excess of the +13.9% increases reported on March 10, 2020. Following imposition of certain measures on February 23, +17.6% more online bets have been processed year-on-year via GAN’s technology Platform in Italy during the following twenty-four (24) days. The Company believes this accelerating trend will continue throughout March and into April.

    Simulated Gaming

    In Simulated Gaming, as of today’s date, all U.S. casino operator clients have closed their retail casino properties, and the majority of those clients have undertaken unprecedented marketing promotion of GAN’s Simulated Gaming service in order to continue to engage and monetize their patrons online, while the retail gaming properties are closed during the Impact Period. As a direct result, the Company has seen an acceleration of revenues among those clients, which are expected to drive substantially greater growth in both revenue and Adjusted EBITDA from Simulated Gaming throughout the Impact Period to benefit the full year 2020. For illustrative purposes only, carded patrons of GAN’s largest operating client increased their aggregate

-2-

value of daily Simulated Gaming purchases +86% against the month-to-date daily average, on the first day this client electively shuttered all their retail casino properties.

New Client Wins: Penn National and Michigan-based Tribal Casino

The Company now confirms both (i) a major new client win for Simulated Gaming, Penn National, which represents the largest U.S. casino operator of B2B social casino gaming expected to drive incremental revenue growth commencing August 2020 and (ii) Market Access arrangements with the Sault Tribe of Chippewa Indians a Native American Tribal Casino operator in the State of Michigan, which will see GAN undertake substantial Internet gaming operations commencing early 2021 together with an anonymous existing client of both Simulated Gaming and real money Internet gambling, whose identity will be confirmed in due course. Both these new client wins will be further clarified by way of a standalone Regulatory News Service statement, in the coming days. There are several new client opportunities available to GAN for both real money Internet gambling and Simulated Gaming throughout the balance of 2020.

Reiteration of Full Year Forecasts
Based on the information set out above, GAN today confirms that the Company is trading in line with the Board of Directors’ expectations and reiterates confidence in full year 2020 revenue.

Management Commentary

Dermot Smurfit, CEO of GAN commented:

“The recent global pandemic has caused immense tragedy for so many affected by the virus and significant disruption to a multitude of business operations. Our thoughts are with all these people. We are extremely fortunate to be an online-only business in the wake of the social distancing mandated by governments around the globe and especially in our key markets of Italy and the United States. GAN will be doing all it can to ensure responsible as well as responsive operations during this tragic and difficult period. Despite recent market turmoil, our equity capital markets strategy remains to secure the Company’s Nasdaq listing next month, subject to market conditions, as we firmly believe that our growth opportunity in the U.S. remains intact, albeit in a differently weighted product mix throughout the balance of 2020. As directors we will act in the best interests of all shareholders in considering the merits of any capital raising activity consequent to the Nasdaq listing and in light of the recent share price movements we will remain highly sensitive to the issue of shareholder dilution. The Company’s resilience during this difficult time should meaningfully resonate with investors that seek to diversify their exposure to our rapidly growing end markets with our online-only products and capabilities.”

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, GameSTACKTM, 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.

For further information please contact:

GAN
Jack Wielebinski
Head of Investor Relations
+1 214 799 4660
jwielebinski@GAN.com

US Investors: The Equity Group
Adam Prior
aprior@equityny.com
+1 212 371 8660

Carolyne Sohn
csohn@equityny.com
+1 415 568 2255

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

GAN Reports February 2020 Internet Gambling Growth For New Jersey

London | March 13, 2020: 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 March 12, 2020, by New Jersey’s Division of Gaming Enforcement (“DGE”) of Internet gaming and Internet sports betting financial information for the calendar month of February 2020 in New Jersey. 
 
Highlights from the DGE include:
  • Internet Gaming Win was $52.0 million in February, compared to $31.7 million in the prior year period, reflecting a year-over-year increase of 63.7%.
  • Total Internet Sports Wagering Handle(1) was approximately $436.5 million for the month of February, compared to:
    • $471.1 million for the month of January 2020;
    • $488.9 million for the month of December 2019; and
    • $486.8 million for the month of November 2019.
  • Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of February were $15.9 million, compared to $12.9 million in February 2019, reflecting a year-over-year increase of 24.0%, and is further comparable to:
    • $46.7 million for the month of January 2020;
    • $25.5 million for the month of December 2019; and
    • $27.8 million for the month of November 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™, 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.

 

GAN
Jack Wielebinski
Head of Investor Releations
+1 214 799 4660
jwielebinski@GAN.com

US Investors: The Equity Group
Adam Prior
aprior@equityny.com
+1 212 371 8660

Carolyne Sohn
csohn@equityny.com
+1 415 568 2255

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

GAN Announces Favorable Italy Trading Update

London | March 10, 2020: 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 on performance in Italy.

Year-to-date the Company has processed in excess of 306 million bets online in the Italian regulated market, an increase of +8.4% year-on-year from 282 million bets in the same period of 2019. Following imposition of certain measures on February 23, +13.9% more online bets have been processed year-on-year via GAN's technology Platform in Italy during the following fourteen (14) days. The Company has seen these trends continue into March.

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.

 

For further information please contact:

GAN
Jack Wielebinski
Head of Investor Releations
+1 214 799 4660
jwielebinski@GAN.com

US Investors: The Equity Group
Adam Prior
aprior@equityny.com
+1 212 371 8660

Carolyne Sohn
csohn@equityny.com
+1 415 568 2255

UK 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

 

GAN Reports January 2020 Internet Gambling Growth For Pennsylvania

Internet Gambling Win Increased 61.8% from December

London | February 20, 2020: 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 February 19, 2020, by the Pennsylvania Gaming Control Board ("PGCB") of Internet gaming and Internet sports betting financial information for the calendar month of January 2020 in Pennsylvania. 

Highlights from the PGCB include:

  • Internet Gaming Win was $14.0 million in January, reflecting an increase of 31.4% from the prior sequential month. This compares to:

-    $10.6 million for the month of December;

-    $9.7 million for the month of November; and

-    $4.9 million for the month of October.

  • Total Internet Sports Wagering Handle(1) was approximately $308.6 million for the month of January, compared to:

-    $297.4 million for the month of December;

-    $266.7 million for the month of November; and

-    $198.7 million for the month of October.

  • Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of January were $26.7 million, reflecting an increase of 84.1% from the prior sequential month. This compares to:

-    $14.5 million for the month of December;

-    $17.3 million for the month of November; and

-    $14.5 million for the month of October.

(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 PGCB, in order to enable the investor community to readily monitor growth of Internet gambling in Pennsylvania, 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.         

 

 

For further information please contact:

GAN
Jack Wielebinski
Head of Investor Relations
+1 214 799 4660
jwielebinski@GAN.com

US Investors: The Equity Group
Adam Prior
aprior@equityny.com
+1 212 371 8660

Carolyne Sohn
csohn@equityny.com
+1 415 568 2255

UK 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

GAN Reports January 2020 Internet Gambling Growth For New Jersey

London | February 14, 2020: 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 February 12, 2020, by New Jersey's Division of Gaming Enforcement ("DGE") of Internet gaming and Internet sports betting financial information for the calendar month of January 2020 in New Jersey.

Highlights from the DGE include:

· Internet Gaming Win was $55.1 million in January, compared to $33.6 million in the prior year period, reflecting a year-over-year increase of 64.0%.

· Total Internet Sports Wagering Handle(1) was approximately $471.1 million for the month of January, compared to:

- $488.9 million for the month of December 2019;

- $486.8 million for the month of November 2019; and

- $417.0 million for the month of October 2019.

· Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of January were $46.7 million, compared to $15.5 million in January 2019, reflecting a year-over-year increase of 200.4%, and is further comparable to:

o $25.5 million for the month of December 2019;

o $27.8 million for the month of November 2019; and

o $38.7 million for the month of October 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.

GAN Announces Submission of Draft Registration Statement for Proposed Public Listing in the U.S.

Form F-1 Filed with the SEC on Friday, January 31, 2020

London | February 3, 2020: 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 announced it confidentially submitted on Friday, January 31, 2020, a draft registration statement on Form F-1 with the U.S. Securities and Exchange Commission (the "SEC") relating to the proposed public listing of its common stock. The public listing is expected to take place after the SEC completes its review process, subject to market and other conditions.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended ("Securities Act"). This announcement is being issued in accordance with Rule 135 under the Securities Act.

GAN: Overview
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.

For further information please contact: 

 

GAN
Jack Wielebinski
Head of Investor Relations
+1 214 799 4660
jwielebinski@GAN.com

US Investors: The Equity Group
Adam Prior
aprior@equityny.com
212.371.8660

Carolyne Sohn
csohn@equityny.com
415.568.2255

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.
 

GAN Reports December 2019 Internet Gambling Growth For Pennsylvania

London | January 17, 2020: 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 January 16, 2020, by the Pennsylvania Gaming Control Board ("PGCB") of Internet gaming and Internet sports betting financial information for the calendar month of December 2019 in Pennsylvania.



Highlights from the PGCB include:

· Internet Gaming Win was $10.6 million in December, reflecting an increase of 10.0% from the prior sequential month. This compares to:

- $9.7 million for the month of November;

- $4.9 million for the month of October; and

- $4.1 million for the month of September.

· Total Internet Sports Wagering Handle(1) was approximately $297.4 million for the month of December, compared to:

- $266.7 million for the month of November;

- $198.7 million for the month of October; and

- $158.2 million for the month of September.

· Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of December were $14.5 million, compared to:

- $17.3 million for the month of November;

- $14.5 million for the month of October; and

- $13.7 million for the month of September.

(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 PGCB, in order to enable the investor community to readily monitor growth of Internet gambling in Pennsylvania, which remains a key market for GAN.

GAN Reports Strong December 2019 Internet Gambling Growth For New Jersey

Internet Gambling Win Increased 71% from Prior Year Monthly Period

London | January 15, 2020: 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 January 14, 2020, by New Jersey’s Division of Gaming Enforcement (“DGE”) of Internet gaming and Internet sports betting financial information for the calendar month of December 2019 in New Jersey. 
 
Highlights from the DGE include:
  • Internet Gaming Win was $49.3 million in December compared to $29.0 million in the prior year period, reflecting a year-over-year increase of 70.0%.
  • Total Internet Sports Wagering Handle(1) was approximately $488.9 million for the month of December, compared to:
    • $486.8 million for the month of November 2019;
    • $417.0 million for the month of October 2019; and
    • $374.2 million for the month of September 2019.
  • Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of December were $25.5 million, compared to $14.7 million in December 2018, reflecting a year-over-year increase of 74.0%, and is further comparable to:
    • $27.8 million for the month of November 2019;
    • $38.7 million for the month of October 2019; and
    • $29.4 million for the month of September 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™, 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.

 
For further information please contact:

GAN
Jack Wielebinski
Head of Investor Relations
+1 214 799 4660
jwielebinski@GAN.com

US Investors: The Equity Group
Adam Prior
aprior@equityny.com
+1 212 371 8660

Carolyne Sohn
csohn@equityny.com
+1 415 568 2255

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

GAN Appoints Karen Flores as Chief Financial Officer, Continues to Progress Toward U.S. Listing

London | January 13, 2020: 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 announced the appointment of Mrs. Karen Flores as Chief Financial Officer, effective immediately. In this role, Mrs. Flores will be responsible for finance, strategic planning, treasury, tax and accounting and will be based at the Company's offices in Irvine, CA.

Mrs. Flores brings 20 years of financial management, capital markets and operational experience in both public and private technology companies. Most recently, she served as Vice President of Corporate Financial Planning & Analysis at Alorica, Inc., a provider of customer experience and call center outsourcing solutions, where she rebuilt the corporate financial planning & analysis function and managed the global capital planning process, establishing and leading the committee overseeing over $50 million in annual capital spending.

Prior to this, Mrs. Flores served as Senior Vice President of Finance at Maker Studios Inc., leading the company through a multi-year period of explosive growth with revenues increasing from $2 million to over $200 million. Mrs. Flores' role at the company included acting as shareholder liaison with key institutional investors and managing its U.S. external audit. She was a primary member of the team that raised more than $70 million in equity funding and sold the company to The Walt Disney Company for $675 million in 2014.

Mrs. Flores has also held financial positions at MySpace Music, Napster, and Microsoft during her career and holds a Bachelor of Science, Finance (Cum Laude) from San Jose State University.

Management Commentary

Dermot Smurfit, CEO of GAN commented:

"We are pleased to welcome Karen to our leadership team as we continue working toward obtaining a U.S. listing as soon as reasonably practical. With two decades of financial management and operational experience at entertainment and technology companies, Karen has managed the Finance function of companies with substantial revenues and gained highly relevant corporate transactional experience. We believe Karen's experience and skillset will prove invaluable to our financial and strategic planning as our business growth continues to accelerate. The entire leadership team at GAN looks forward to working closely with Karen who will be a critical part in helping us achieve both short- and long-term goals."

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.

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

Carolyne Sohn

csohn@equityny.com

+1 415 568 2255

 

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

 

GAN Reports Q4 2019 Key Performance Indicators Highlighted by 189 Percent Growth in Gross Operator Revenue

London – January 6, 2020: 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 announced the release of quarterly key performance indicators1 for the fourth quarter of 2019, highlighting continued YoY growth reflecting high demand for Internet sports betting and Internet casino gaming in both New Jersey and the State of Pennsylvania together with high demand in Indiana for Internet sports betting (launched during the quarter).

Management Commentary

Dermot Smurfit, CEO of GAN commented:

“Continued year on year growth rate experienced in Q4 demonstrates our Platform technology’s ability to scale successfully for our diverse clients of real money U.S. Internet gambling, Simulated Gaming as well as our long- standing Italian clients. The fourth quarter benefitted from strong seasonal demand during the American Football NFL season; cross-selling of U.S. sports bettors to Internet casino gaming in the States of New Jersey and Pennsylvania; and the launch of Internet sports betting in the State of Indiana.”

Fourth Quarter 2019 Highlights

This Quarterly publication discloses the Active Player-Days, Average Revenue Per Active Player-Day (ARPDAU) and Gross Operator Revenue, in which GAN participates worldwide in regulated real money Internet gambling markets and Simulated GamingTM.

  • Gross Operator Revenue2 increased 189.1% year over year and 49.3% quarter over quarter to $120.8 million. This change was driven by strong growth in real money regulated gambling in the U.S. and seasonal growth experienced in both Italy’s regulated gambling market and Simulated Gaming.

  • Active Player-Days3 at 9.0 million is an increase of 94.8% year over year and increase of 65.7% quarter over quarter.

Existing KPIs

Q3 2018

Q4 2018

Q1 2019

Q2 2019

Q3 2019

Q4 2019

Gross Operator Revenue

$26.7M

$41.8M

$59.1M

$54.8M

$80.9M

$120.8M

% Change YoY

40.20%

103.90%

148.32%

128.33%

202.68%

189.06%

% Change QoQ

11.30%

56.40%

41.39%

-7.28%

47.31%

49.31%

             

Active Player-Days

3,402,065

 4,618,215

 5,281,235

 4,761,209

 5,429,6874

 8,997,427

% Change YoY

13.50%

50.60%

65.61%

51.97%

59.60%4

94.82%

% Change QoQ

8.60%

35.70%

14.36%

-9.85%

14.07%4

65.71%

             

ARPDAU

$7.85

$9.05

$11.20

$11.52

$14.904

$13.43

% Change YoY

23.43%

35.48%

49.93%

50.39%

89.77%4

48.37%

% Change QoQ

2.50%

15.20%

23.76%

2.86%

29.23%4

-9.90%

  1. (1)  The numbers contained herein are unaudited and derived from GAN’s internal business intelligence reporting systems.

  2. (2)  GAN defines Gross Operator Revenues as the sum of gross revenue from Simulated Gaming; gross gaming revenue from real money regulated Gaming; and gross

    sports win from real money regulated Sports betting.

  3. (3)  GAN defines Active Player-Days as the number of unique active gamblers who gambled at least once online each day, aggregated over the period.

  4. (4)  Note Active Player-Days for Q3 2019 are corrected here to reflect an increase from 5,400,878 to 5,429,687 with consequent minor modifications to ARPDAU and

    applicable YoY and QoQ % growth rates.

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, GameSTACKTM, 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.

For further information please contact:

GAN

Jack Wielebinski Head of Investor Relations jwielebinski@GAN.com +1 214 799 4660

US Investors: The Equity Group

Adam Prior

aprior@equityny.com

+1 (212) 371-8660

UK & Ireland Investors: Newgate Communications
Adam Lloyd
Giles Croot GAN@Newgatecomms.com +44 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

GAN Welcomes the Legalization of Internet Casino Gambling and Sports Betting in the State of Michigan

London | December 23, 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, welcomes today's passage into Michigan law HB 4311, a bill that includes provisions for the legalization of full real money Internet casino gaming in the State of Michigan as well as Internet sports betting. The bill has now been signed into law by the Governor of Michigan, and the market is expected to commence in 2020. Consistent with the regimes implemented in New Jersey, Pennsylvania, Delaware and West Virginia, Michigan has elected to enable all forms of Internet gaming as well as Internet sports betting, thereby maximizing the commercial opportunity for all Industry stakeholders as well as ensuring new State tax revenues from Internet gambling will be material at 8.4% on sports betting revenues and up to 28% on Internet gaming revenues.

With a population of 10.0 million (3.1% of the US population), the State of Michigan materially increases the number of Americans who will be permitted to gamble online. In total, 21.3% of Americans now live in States with legislation enabling Internet gambling. With Michigan's regulated Internet gambling market expected to commence in 2020, GAN is strongly positioned to serve Michigan casino operators in that State.

There are 26 casinos in Michigan comprising three commercial casinos in Detroit and a further 23 Native American casinos throughout the State. The Internet gambling market is forecast to generate $377 million in Gross Operator Revenue in the first 12 months of operations, increasing to $836 million in the fourth operating year (source: Regulus Partners, an International gambling consultancy).

Management Commentary

Dermot Smurfit, CEO of GAN commented:

"Including Michigan's population, 70 million Americans now enjoy laws enabling Internet gambling in their State. One year ago, Michigan passed legislation to regulate Internet gambling only for the former Governor to refuse to sign that bill into law. Yesterday, Governor Gretchen Whitmer signed HB 4311, and Michigan is now America's 13th State to regulate Internet gambling and, more importantly, the seventh State to regulate in 2019 alone. This reinforces our belief that the regulatory cycle for Internet gambling in the US will continue at a rapid pace into 2020 and beyond. This also signals States' increased appetite for enabling Internet casino gaming, as opposed to just Internet sports betting, in order to logically maximize the incremental State tax opportunity. GAN is the only fully licensed B2B-only platform vendor operating in New Jersey, Pennsylvania and Indiana with the requisite technical expertise and 'day one' experience in multiple US Internet gambling markets to credibly serve one or more of Michigan's 26 land-based casinos."

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.

Contacts

For further information:
GAN

Jack Wielebinski
Head of Investor Relations
+1 214 799 4660
jwielebinski@GAN.com

US Investors: The Equity Group
Adam Prior
aprior@equityny.com
+1 212 371 8660

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

GAN Reports November 2019 Internet Gambling Growth For Pennsylvania

LONDON--()--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 17, 2019, by the Pennsylvania Gaming Control Board (“PGCB”) of Internet gaming and Internet sports betting financial information for the calendar month of November 2019 in Pennsylvania.

Highlights from the PGCB include:

  • Internet Gaming Win was $9.7 million in November, reflecting an increase of 95.3% from the prior sequential month. This compares to:
    • $4.9 million for the month of October;
    • $4.1 million for the month of September; and
    • $3.4 million for the month of August.
  • Total Internet Sports Wagering Handle(1) was approximately $266.7 million for the month of November, compared to:
    • $198.7 million for the month of October;
    • $158.2 million for the month of September; and
    • $83.2 million for the month of August.
  • Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of November were $17.3 million, compared to:
    • $14.5 million for the month of October;
    • $13.7 million for the month of September; and
    • $6.3 million for the month of August.

(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 PGCB, in order to enable the investor community to readily monitor growth of Internet gambling in Pennsylvania, 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.

Contacts

GAN
Jack Wielebinski
Head of Investor Relations
+1 214 799 4660
jwielebinski@GAN.com

US Investors: The Equity Group
Adam Prior
aprior@equityny.com
+1 212 371 8660

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

GAN Reports Strong November 2019 Internet Gambling Growth For New Jersey

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.

GAN Reports October 2019 Internet Gambling Growth For Pennsylvania

London | November 19, 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 November 18, 2019, by the Pennsylvania Gaming Control Board ("PGCB") of Internet gaming and Internet sports betting financial information for the calendar month of October 2019 in Pennsylvania.

Highlights from the PGCB include:

· Internet Gaming Win was $4.9 million in October, reflecting an increase of 19.5% from the prior sequential month.(1) This compares to:

- $4.1 million for the month of September;

- $3.4 million for the month of August; and

- $0.8 million for the month of July.

· Total Internet Sports Wagering Handle(2) was approximately $198.7 million for the month of October, compared to:

- $158.2 million for the month of September;

- $83.2 million for the month of August; and

- $39.0 million for the month of July.

· Internet Sports Wagering Gross Revenues(3) (after payouts) for the month of September were $14.5 million, compared to:

- $13.7 million(4) for the month of September;

- $6.3 million for the month of August; and

- $2.9 million for the month of July.



(1) Internet Gaming Win was misstated in the Company's previous press releases concerning Pennsylvania market data and has been adjusted accordingly in this announcement.

(2) Gross amount of money accepted in wagers

(3) 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

(4) This number was understated as $13.4 million in GAN's press release dated October 18, 2019, as it excluded gross revenues of $268,844 from Mount Airy casino.

This information will be updated and published each month, following publication by the PGCB, in order to enable the investor community to readily monitor growth of Internet gambling in Pennsylvania, 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. 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.

Contacts

GAN 
Jack Wielebinski 
Head of Investor Relations 
jwielebinski@GAN.com 
+1 214 799 4660 

US Investors: The Equity Group 
Adam Prior 
aprior@equityny.com 
+1 212 371 8660 

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

GAN Appoints B. Riley FBR to lead U.S. Listing

London | November 18, 2019: GAN plc (LSE: GAN), an award-winning developer and supplier of enterprise-level B2B Internet gambling software, services and online gaming content (“GAN” or “the Company”), has appointed B. Riley FBR, Inc. a subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY) as the Company’s lead banking adviser as part of the Company’s planned reorganization and listing on a recognized investment exchange in the United States.

This key appointment is made by the Company in pursuit of its stated equity capital markets strategy of making GAN’s equity readily available to the U.S. investor community, to improve liquidity and maximize shareholder value.

The Company’s Board of Directors selected B. Riley FBR based on its demonstrated capital markets track record working with emerging U.S. public companies in the technology sector, including Software-as-a-Service vendors. The Company’s Board of Directors believes B. Riley FBR is ideally suited to support the Company’s achievement of its U.S. listing objective.

The Company does not intend to disclose or comment further on developments related to its U.S. listing unless and until the Board of Directors of GAN has approved a specific transaction or has otherwise determined that further disclosure is appropriate in consultation with its legal and financial advisors. There can be no assurance that the U.S. listing process will result in any particular outcome. Shareholders are encouraged to read the Company’s London Stock Exchange AIM filings which are available online at www.GAN.com and www.LondonStockExchange.com.

Dermot Smurfit, Chief Executive Officer of GAN commented:

“We are excited to appoint one of the leading financial advisory firms in the United States to support GAN through the next few months, with the shared objective of obtaining a U.S. listing as soon as reasonably practical. This is the first visible evidence of a process which is already substantially underway, and we look forward to updating the market when appropriate and in line with our continuing compliance obligations.”

This press release is not an offer of securities for sale in the United States, or in any other jurisdiction. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made only by means of a prospectus that will contain detailed information about the Company and management as well as financial statements. The Company intends to register an offering of securities in the United States, but no terms have been established and no registration statement has been filed to date.

About GAN

GAN plc is a leading B2B supplier of Internet gambling enterprise software-as-a-service solutions to the land-based casino Industry with additional operations throughout Europe.

The Company has developed an Internet gaming enterprise software system, GameSTACKTM, which it licenses principally to land-based US casino operators as a turnkey technology solution for both regulated real-money and/or virtual Simulated Gaming. GAN has fourteen (14) casino operators as clients of Simulated Gaming coast-to-coast across the US and Internationally; three (3) clients of real money Regulated Gaming in New Jersey; two (2) client of real money Regulated Gaming in Pennsylvania and ten (10) clients of real money Regulated Gaming in Europe.

Simulated GamingTM is now proven to drive increased visitation on-property among high-value casino patrons. Simulated GamingTM enables land-based US casinos to increase their ‘share of wallet’ among existing patrons as well as reactivate long-term lapsed patrons to return on-property.

For more information please visit www.GAN.com

GAN Reports Strong October 2019 Internet Gambling Growth For New Jersey

Internet Gambling Win Increased 136% from Prior Year Monthly Period

London | November 15, 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 November 14, 2019, by New Jersey’s Division of Gaming Enforcement (“DGE”) of Internet gaming and Internet sports betting financial information for the calendar month of October 2019 in New Jersey.

Highlights from the DGE include:

  • Internet Gaming Win was $45.2 million in October compared to $26.8 million in the prior year period, reflecting a year-over-year increase of 69.0%.
  • Total Internet Sports Wagering Handle(1) was approximately $417.0 million for the month of October, compared to:
    • $374.2 million for the month of September 2019;
    • $249.2 million for the month of August 2019; and
    • $213.0 million for the month of July 2019.
  • Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of October were $38.7 million, compared to $8.8 million in October 2018, reflecting a year-over-year increase of 337.9%, and is further comparable to:
    • $29.4 million for the month of September 2019;
    • $19.2 million for the month of August 2019; and
    • $13.9 million for the month of July 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™, 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

Jack Wielebinski Head of Investor Relations +1 214 799 4660 jwielebinski@GAN.com

US Investors: The Equity Group

Adam Prior

aprior@equityny.com

+1 212 371 8660

UK & Ireland Investors: Newgate Communications
Adam Lloyd
Giles Croot GAN@Newgatecomms.com +44 (0) 20 3757 6880

For further information please contact:

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

GAN Announces Expansion of Partnership with FanDuel Group into Indiana Following Legalization of Sports Betting in the State

London | October 23, 2019: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today announced the expansion of its existing agreement with FanDuel Group ("FDG") to be FDG's platform for rapid deployment of account services for Internet sports betting in the State of Indiana (pop. 6.7M), following that State's legalization of sports betting on May 8, 2019 and the intra-state Indiana market commencement of Internet gambling on October 3, 2019.

FDG launched Internet sports betting for residents of Indiana yesterday, following the parties obtaining all applicable regulatory consents, and represents a material increase in the value of the partnership to GAN. This expansion follows GAN's launch of account services for FDG in Pennsylvania (pop. 13M) on July 22, 2019 in addition to the long-standing existing services provided since 2013 by GAN to FDG in the State of New Jersey (pop. 9M).

Furthermore, GAN confirms the receipt of a Temporary Supplier License from the Indiana Gaming Commission, demonstrating GAN's continuing ability to rapidly submit to licensure in highly regulated U.S. Internet gambling markets. This is GAN's second gaming license awarded in 2019 and third U.S. gaming license, following licensure in the State of New Jersey and the State of Pennsylvania.

Management Commentary

Dermot Smurfit, Chief Executive Officer of GAN commented:

"Our effective and compliant Platform represents a premium component of the supply chain and our team has a track record of on-time delivery for our long-standing client FanDuel, which has proven to be an exceptionally successful partnership to date in both New Jersey and Pennsylvania. Rapid deployment into the State of Indiana is a logical extension of our relationship to best support FanDuel in capturing early market share of Internet sports betting in Indiana."

GAN Reports September 2019 Internet Gambling Growth For Pennsylvania

London - October 18, 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 October 17, 2019, by the Pennsylvania Gaming Control Board ("PGCB") of Internet gaming and Internet sports betting financial information for the calendar month of September 2019 in Pennsylvania.

Highlights from the PGCB include:

· Internet Gaming Win was $6.0 million in September, compared to $4.0 million in the prior sequential month, reflecting an increase of 48.2%.

· Total Internet Sports Wagering Handle(1) was approximately $153.6 million for the month of September, compared to:

- $83.2 million for the month of August;

- $39.0 million for the month of July; and

- $19.3 million for the month of June.

· Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of September were $13.4 million, compared to:

- $6.3 million for the month of August;

- $2.9 million for the month of July; and

- $1.4 million for the month of June.

(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 PGCB, in order to enable the investor community to readily monitor growth of Internet gambling in Pennsylvania, which remains a key market for GAN.

GAN Reports Strong September 2019 Internet Gambling Growth For New Jersey

Internet Gambling Win Increased 84% from Prior Year Monthly Period

London & Dublin - October 16, 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 October 15, 2019, by the New Jersey's Division of Gaming Enforcement ("DGE") of Internet gaming and Internet sports betting financial information for the calendar month of September 2019 in New Jersey. 

Highlights from the DGE include:

·    Internet Gaming Win was $41.1 million in September compared to $25.8 million in the prior year period, reflecting a year-over-year increase of 59.6%.

·    Total Internet Sports Wagering Handle(1) was approximately $374.2 million for the month of September, compared to:

-    $249.2 million for the month of August 2019;

-    $213.0 million for the month of July 2019; and

-    $226.7 million for the month of June 2019.

·    Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of September were $29.4 million, compared to $12.6 million in September 2018, reflecting a year-over-year increase of 134.0% and is further comparable to:

o  $19.2 million for the month of August 2019;

o  $13.9 million for the month of July 2019; and

o  $6.9 million for the month of June 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.

GAN Announces New Simulated Gaming Client Agua Caliente Band of Cahuilla Indians

London | October 15, 2019: GAN plc, an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, has agreed to supply its Simulated Gaming software to the Agua Caliente Band of Cahuilla Indians (the “Client”), with new services anticipated to launch to customers in Q1 2020.

The Agua Caliente Band of Cahuilla Indians owns and operates three locations: Agua Caliente Casino in Palm Springs, Calif.; Agua Caliente Resort Casino Spa in Rancho Mirage, Calif.; and Indian Canyons Golf Resort in Palm Springs, Calif. The agreement with GAN will enable the Client to provide an expanded suite of online gaming and services throughout the region and beyond.

The Client is the 15th US casino operator to license GAN’s specialist software, which permits patrons to link reward cards to their online Simulated Gaming account and receive reward points automatically triggered by the patrons’ diverse online activities. It is the sixth major Native American casino operator in the United States to select GAN as its online gaming software service provider since the launch of Simulated Gaming in 2014.

Jeff Berman, Chief Commercial Officer of GAN commented:

“We are enormously privileged to bring one of America’s largest and most vibrant Native American casino resort operators online with our Simulated Gaming solution. Southern California is a significant regional US gaming market, with the largest population concentration in the US, reinforcing GAN’s market position as the leading B2B enterprise software solution provider to ‘brick and mortar’ US casinos.”

Bill Oliver, CIO of the Agua Caliente Band of Cahuilla Indians, commented:

“We selected GAN for its proven success in helping casino properties launch online gaming and for its ability to embed our on-property rewards program into an online experience. Equipped with GAN’s Simulated Gaming, we will now introduce our casino properties online to a wider audience of casino enthusiasts located in adjacent regional markets.”

GAN Launches Internet Gambling for Parx Casino in New Jersey

LONDON--()--GAN plc (“GAN” or the “Company”), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today announces that GAN and Greenwood Gaming & Entertainment, Inc. trading as ‘Parx Casino’ (“Parx Casino”) have launched Internet gaming in the State of New Jersey now available online 24/7 since Friday October 4, following a three-day soft launch period.

Parx Casino patrons can also link their Reward Card online to their counterpart Internet gambling account, enabled by GAN’s U.S. patented integration framework. This represents the second U.S. State that GAN has launched Parx Casino in, following the launch of Internet sports betting and Internet casino gaming in Pennsylvania on June 24 and July 15, respectively.

Highlights

  • Parx owns and operates the #1 land-based casino property in Pennsylvania located a short distance from Philadelphia, Pennsylvania’s largest City. In the most recent fiscal year ended June 30, 2018 Parx Casino generated $570m from slot machines and table games on-property representing a 18% share of the Pennsylvania’s $3.2bn gaming market.
  • GAN’s US-patented technology enables Parx Casino patrons enrolled in the on-property loyalty program, to sign up online and instantly link their reward cards to their online account permitting those guests to trade in their reward points earned from on-property gaming for cash online and/or to earn rewards points from Internet gaming and/or sports betting, to be subsequently redeemed on-property.

Management Commentary

Dermot Smurfit, Chief Executive Officer of GAN commented:

“Launching the largest casino in Pennsylvania online has now logically extended across the border into New Jersey, extending their reach into New Jersey’s fast-growing and established Internet gambling market. This represents an incremental revenue opportunity for GAN and is a logical extension of our technology infrastructure to serve Parx Casino patrons who routinely cross the invisible border between these two populous States.”

John Dixon, Chief Operating Officer of Greenwood Gaming & Entertainment, Inc commented:

“GAN has now ably demonstrated it abilities to serve our business needs in multiple States which aligns with the cross-border nature of our existing retail gaming customer base. GAN’s launch in New Jersey was a case study in on-time delivery and professional excellence and will enable our patrons to gamble online in either Pennsylvania or New Jersey, as they wish.”

Frequently Asked Questions (FAQ’s)

  • For investors and Industry analysts: The core of a “Platform” from both a technical and regulatory standpoint is the Player Account Management System i.e. where highly sensitive customer and player activity data is stored and processed. Other elements of Platform can include a sportsbook transaction engine, gaming content integrations, payment services, marketing services, trading services and other ancillary activities. However, the core functionality to describe B2B systems and services as a 'Platform' is the Player Account Management System. This is also the layer of B2B activity which tends to require regulatory approval as a 'Platform' since it is the focal point of data and player security. Therefore, without the Player Account Management System, a service provider might be offering very valuable B2B functionality but not in the strictest sense a 'Platform' (source: Regulus Partners).
  • Pennsylvania’s population of 12.8m is +42% larger than New Jersey’s population of 8.9m.
  • There are currently twelve (12) land-based casino properties in Pennsylvania which together generated $3.2bn in land-based gross gaming revenue in fiscal year 2017/18 ending June 30, 2018.
  • Internet casino gaming in the neighbouring State of New Jersey is a fast-growing market which generated $221m in Gross Gaming Revenue in CY2017 (+30% Year on Year) and is anticipated to grow +20% Year on Year to ~$266m in CY2018E.
  • Patent 8,821,296 was issued to GAN plc in September 2014 and governs the automated authentication, card linkage and intra-system messaging between the on-property Casino Management System and GAN’s Internet gaming system. Already proven for Simulated Gaming, the launch of the real money Internet casino gaming for Parx Casino is anticipated to generate new on-property visitation by Internet-first players as well as increase visitation rates among patrons who first engage on-property with Parx Casino then subsequently play online from home, accumulating reward points from online play.
  • GAN has licensed its US Patent fourteen (14) times to major US casino operators and Parx Casino is the third land-based casino operator to license the Patent for real money Online Gaming following the licensing & services agreements between GAN and Greenwood Gaming & Entertainment, Inc. announced November 2014; MDDC (The Borgata) announced December 2016; and Ocean Resort Casino announced July 2018.
  • The Federal ban on sports betting enshrined within Professional and Amateur Sports Protection Act 1992 (“PASPA”) was repealed by the Supreme Court of the United States on May 14, 2018 permitting individual US States to pass their own sports betting laws.
  • Pennsylvania passed legislation bill HB 271 on October 26, 2017 (signed into law on October 30, 2017) enabling land-based casinos in the State of Pennsylvania to launch real money Internet gaming and (subject to the repeal of PASPA) Internet sports betting.

GAN | Overview

GAN is a leading B2B supplier of Internet gaming enterprise software-as-a-service solutions to the US land-based casino Industry. GAN is listed on the AIM Market of the London Stock Exchange under the ticker: GAN

The Company has developed an Internet gaming enterprise software system, GameSTACK™, which it licenses principally to land-based US casino operators as a turnkey technology solution for both regulated real-money and/or virtual Simulated Gaming. GAN has fourteen (14) casino operators as clients of Simulated Gaming coast-to-coast across the US and Internationally; two (2) clients of real money Regulated Gaming in New Jersey; one (1) client of real money Regulated Gaming in Pennsylvania and ten (10) clients of real money Regulated Gaming in Europe.

The Internet Gaming System, developed in London under a UK Gambling Commission license, is certified to the highest technical standards currently required by gaming regulators. In January 2018 GAN announced a strategic partnership with SBTECH, a leading European B2B sports betting technology provider. In April 2017 GAN was granted a Casino Service Industry Enterprise license by the New Jersey Division of Gaming Enforcement being GAN’s first privileged gaming license in the United States. In May 2018, the US Supreme Court repealed PASPA and GAN confirmed the H2 launch of sports betting for US clients integrated into GAN’s enterprise software platform.

For more information please visit www.GAN.com.

Contacts

GAN
Dermot Smurfit
Chief Executive Officer
+44 (0) 20 7292 6262
dsmurfit@GAN.com

US Investors: The Equity Group
Adam Prior
aprior@equityny.com
212.371.8660

UK & Ireland Investors: Newgate Communications
Giles Croot
GAN@Newgatecomms.com
+44 (0)7974 982 510

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

GAN Reports Q3 2019 Key Performance Indicators Highlighted by 203 Percent Growth in Gross Operator Revenue

London & Dublin - October 1, 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 announced the release of quarterly key performance indicators[1] for the third quarter of 2019, highlighting continued YoY 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.


Management Commentary

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.

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).


Third Quarter 2019 Highlights

This Quarterly publication discloses the Active Player-Days, Average Revenue Per Active Player-Day (ARPDAU) and Gross Operator Revenue, in which GAN participates worldwide in regulated real money Internet gambling markets and Simulated Gaming™.

· Gross Operator Revenue, which comprises the sum of gross revenue from Simulated Gaming; gross gaming revenue from real money regulated Gaming; and gross sports win from real money regulated Sports betting, increased 202.7% year-over-year and 47.3% quarter-over-quarter to $80.9 million. This change was driven by strong growth in real money regulated gambling in the US.

· Active Player-Days at 5.4 million is an increase of 59% year-over-year and increase of 13.5% quarter over quarter.

 Screen Shot 2019 10 01 at 10.08.03 AM

GAN Announces Agreement with JACK Entertainment LLC for Real Money Internet Gambling in the State of Ohio

Third Client to Expand into Real Money Internet Gambling as a Result of Successful Implementation of Simulated Gaming

London & Dublin | September 19, 2019: GAN plc (“GAN” or the “Company”), an award-winning developer and supplier of enterprise-level B2B gambling software and services in the United States and Europe, announces a new agreement with JACK Entertainment LLC (“JACK”), which has chosen GAN as their platform to support sports wagering and online casino gaming should enabling legislation and corresponding regulatory approvals come to pass in the jurisdictions where JACK operates.

JACK is an existing client of GAN’s Simulated Gaming Enterprise Platform, available online at www.playJACK.com, since October 2016. Today’s announcement once more demonstrates the strategic value to GAN of establishing relationships with U.S. casinos in advance of relevant intra-State U.S. regulation of real money Internet gambling.

JACK and its affiliates own and operate gaming properties in Cleveland, Cincinnati, and Baltimore in addition to racing facilities in Ohio and Kentucky. The complete JACK portfolio includes over 4,000 team members, 40 bars and restaurants, 375,000 square feet of gaming space and generates more than $800 million in revenues.

Highlights

• Delivering GAN’s proven Enterprise Platform, including the US-patented iBridge Framework™ linking the GameSTACK™ to JACK Entertainment’s existing casino management system deployed in Ohio

• The platform is anticipated to be operated from intra-State infrastructure entirely deployed in the State of Ohio

Management Commentary

Jeff Berman, COO of GAN commented: “Following the completion of a formal and highly competitive process, we’re delighted to win this mandate from JACK which encompasses Internet gaming as well as Internet sports betting should enabling legislation come to pass in Ohio. This moves GAN into a new State with an existing client of Simulated Gaming and once again demonstrates the strategic value of GAN’s technology Platform which offers clients the ability to build an online community of Simulated Gaming players well in advance of real money Internet gambling regulation.”

Adam Suliman, Vice President of Sports and Digital Gaming at Jack Entertainment, commented: “JACK Entertainment is excited to take this important step with GAN. Should enabling legislation pass which authorizes sports wagering or online gaming, we feel confident we will be well positioned to deliver best in class products for our guests.”

GAN Reports August 2019 Internet Gambling Growth For Pennsylvania

London & Dublin - September 17, 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 September 16, 2019, by the Pennsylvania Gaming Control Board ("PGCB") of Internet gaming and Internet sports betting financial information for the calendar month of August 2019 in Pennsylvania.

Highlights from the PGCB include:

· Internet Gaming Win was $6.3 million in August compared to $2.9 million in the prior sequential month, reflecting an increase of 118.6%.

· Total Internet Sports Wagering Handle(1) was approximately $83.2 million for the month of August, compared to:

- $39.0 million for the month of July;

- $19.3 million for the month of June; and

- $0.6 million for the month of May.

· Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of August were $6.3 million, compared to:

o $2.9 million for the month of July;

o $1.4 million for the month of June; and

o nil for the month of May.

(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 PGCB, in order to enable the investor community to readily monitor growth of Internet gambling in Pennsylvania, which remains a key market for GAN.

GAN Reports Strong August 2019 Internet Gambling Growth For New Jersey

London & Dublin - September 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 September 12, 2019, by the New Jersey's Division of Gaming Enforcement ("DGE") of Internet gaming and Internet sports betting financial information for the calendar month of August 2019 in New Jersey.

Highlights from the DGE include:

· Internet Gaming Win was $41.1 million in August compared to $24.8 million in the prior year period, reflecting a year-over-year increase of 65.7%.

· Total Internet Sports Wagering Handle(1) was approximately $249.2 million for the month of August, compared to:

- $213.0 million for the month of July 2019;

- $226.7 million for the month of June 2019; and

- $263.6 million for the month of May 2019.

· Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of August were $19.2 million, compared to $3.1 million in the prior year period August 2018, reflecting a year-over-year increase of 514.7% and is further comparable to:

o $13.9 million for the month of July 2019;

o $6.9 million for the month of June 2019; and

o $13.7 million for the month of May 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.

Trading Update and Conclusion of Review of Strategic Alternatives

London | 13 September 2019: GAN plc ("GAN" or the "Group"), a leading B2B supplier of Internet gambling enterprise software-as-a-service solutions to the land-based casino industry, today announces the conclusion to its review of strategic alternatives commenced on 29 March 2019, and provides a trading update.

Trading Update

Trading is significantly ahead of the Board's expectations for the eight (8) months up to and including August 31, 2019. As of June 30, 2019, the group's cash balance was £9.1 million and holds no debt on its balance sheet.

Conclusion of Strategic Review

As set out in the announcement on 29 March, 2019, GAN has been undertaking a review considering strategic alternatives including a Formal Sale Process ("FSP"). The purpose of the FSP was to explore the merits of the Group remaining as an independent organisation, relative to the alternative options available to the Group being reviewed. Union Gaming has undertaken the FSP and interest from a number of organisations, across a range of geographies, has been explored.

The Company received multiple bids from multiple parties during the FSP. In the context of the Company's rapid and accelerating growth year-to-date and growth trajectory of the business moving forwards, the Company's Board of Directors (the "Board") in consultation with its advisors has determined that the bids received did not represent fair value for shareholders.

As a result, the Board has concluded that it is unlikely that the FSP would produce the most attractive outcome from the review of strategic alternatives. The Board has therefore decided to terminate the FSP and the Company is no longer in an offer period under the City Code on Takeovers and Mergers (the "Code") and the requirement to make disclosures under Rule 8 of the Takeover Code in relation to the Company has now ceased.

The outcome of the review of strategic alternatives is that the Company is now committed to procuring a U.S. listing as soon as reasonably practicable, and will provide an update with the publication of the Group's full year 2019 results.

This announcement contains Inside Information as defined under the Market Abuse Regulation (EU) No. 596/2014.

Half-Year Results | Conference Call Details

The GAN management team will host a conference call for analysts & institutional investors at 4pm BST (11am EST / 8am PST) on Friday September 13, 2019.

Please use the following dial in numbers:

UK Participants: +44 (0) 800 756 3429

US & Canada Participants: +1 877-407-8629

International Participants: +1 201-493-6715

The Half Year Results Press Release and Presentation is available to download from the website, www.GAN.com

Half-Year Results | Webcast

The call will also be simultaneously webcast over the Internet via the following link:

https://78449.themediaframe.com/dataconf/productusers/gan/mediaframe/32225/indexl.html

and such link will also be made available in the "Results and Presentations" section of GAN's website www.GAN.com/investors/results-and-presentations

GAN Announces Profitable 2019 Half Year Financial Results driven by 145 Percent Net Revenue Growth

London | 13 September 2019: GAN plc ("GAN" or the "Group"), a leading B2B supplier of Internet gambling enterprise software-as-a-service solutions to the land-based casino industry, announces its operating and financial results for the six months ended 30 June 2019.

Financial Overview

· Group Net Revenue of £11.3m (H1 2018: £4.6m), an increase of +145%

· Clean EBITDA1 profit of £3.0m (H1 2018: clean EBITDA loss of £0.3m)

· Profit after tax of £0.7m (H1 2018: loss after tax of £3.0m)

· Basic earnings per share of £0.01 (H1 2018: loss per share £0.04)

· Cash and cash equivalents at 30 June 2019 of £9.1m (£5.5m at 31 December 2018)

· United States accounted for 78% of Net Revenue including £3m derived from patent licensing

Dermot Smurfit, CEO of GAN commented:

The first half of 2019 saw rapid growth in revenues driven by real money Internet gambling in the U.S. and the accelerating adoption of Internet sports betting by numerous states. We were pleased to deliver real money Internet gambling across four websites (and counterpart mobile apps), to end users in two U.S. States operated by three clients reliant on our technology Platform for powering their Internet gambling business activities.

We have also substantially improved GAN's balance sheet as the Group transitioned to positive cashflow from ordinary activities with GBP 9.1M cash as on June 30 2019 and zero debt. The capital available on the balance sheet will be used to selectively grow development resources in Sofia, Bulgaria and Las Vegas, NV to capture substantial incremental revenue opportunities available from Internet gaming and sports betting in other U.S. States expected to regulate internet gambling in the near future.

We have an incredibly positive outlook for the remainder of 2019, as the recent launch of Internet sports betting and casino gaming in Pennsylvania, the Company's current sales pipeline and existing contracted clients are projected to significantly enhance GAN's revenue and EBITDA prospects.

Operational Overview and Current Developments

· Successfully licensed GAN's strategic U.S. patent ("Patent") to a major U.S. Internet gambling operator and their affiliated land-based U.S. casino group, generating £3m in Net Revenue in the period. This patent governs the linkage of on-property reward cards to their counterpart Internet gambling accounts together with bilateral transmission of reward points between the Internet gambling technology system and the land-based casino management system present in all U.S. casino properties. The Patent was awarded to GAN in September 2014, successfully defended in H1 2017 and has now been licensed for substantial consideration setting a precedent for additional Patent licensing agreements

· Operationally managed GAN's technology Platform throughout New Jersey's first legal online betting experience during the U.S. Super Bowl, with all-time record number of active real money Internet gamblers, who used GAN's technology Platform to bet on both sports and casino gaming on February 4, 2019, following the May 2018 decision of the Supreme Court of the United States ("SCOTUS") to overturn the previous Federal U.S. prohibition on sports betting enshrined with the Professional and Amateur Sports Protection Act 1992 ("PASPA")

· Welcomed the passage of enabling legislation for Internet gambling in six U.S. States during the course of the first six months of 2019 including Rhode Island, Montana, Indiana, Iowa, Tennessee and Illinois (together representing 9.6% of the U.S. population)

· Entered into an extension of services for Flutter Entertainment plc (formerly PaddyPower Betfair Plc) for the provision of: (i) a multi-year patent license; and (ii) additional services in New Jersey, West Virginia and Pennsylvania together with an option over additional services in additional U.S. States;

· Completed a significant expansion of engineering resources commenced in H2 2018, principally in Sofia, Bulgaria with secondary recruitment in Las Vegas, Nevada in order to meet high demand from existing clients for incremental real money Internet gambling services

· Substantially increased marketing activities via 'GAN Digital', in Tel Aviv, Israel, an in-house marketing agency to provide digital user acquisition & retention services in support of the Overseas Internet Casino, WinStar.com

· Won the prestigious 'Best B2B Social Slot Company' award at the Eilers & Krejcik Gaming LLC U.S. gaming Industry awards on February 28, 2019 in Las Vegas, Nevada

· Entered into an extension of services for Parx Casino in Pennsylvania to launch an Internet gambling service in the neighbouring State of New Jersey

· Cancellation of the Euronext Growth Dublin Ireland listing of GAN plc's shares on June 19, 2019 in order to simplify the Company's equity capital markets arrangements in advance of preparing for a U.S. listing on a suitable recognized investment exchange

· Launched Internet gambling for our first Pennsylvanian client, Parx Casino, in the State of Pennsylvania (pop. 12.7M) increasing GAN's addressable market for real money Internet gambling outside the State of New Jersey (pop. 9M)

Post-period end:

· Launched Internet sports betting in Pennsylvania delivered for Flutter Entertainment plc's FanDuel Group, GAN's second U.S. client to operate Internet sports betting via the GAN Platform in Pennsylvania. The reported success of the Internet sports betting market in the first operational year (August 2018 to July 2019) may result in an increase in the speed of regulation of intra-State Internet gambling going forwards. It is believed that additional U.S. States are now considering the regulation of Internet gambling

· Launched Internet casino gaming in Pennsylvania on July 15, 2019 for Pennsylvania's largest land-based casino, Parx Casino, in addition to Internet sports betting which commenced in June 2019

· Engaged in additional Patent licensing discussions with major U.S. land-based casino operators, following the successful licensure of the Patent in H1 2019

Notes

1. Clean EBITDA is a non GAAP company specific measure and excludes interest, tax, depreciation, amortisation, share based payment expenses, certain non-cash transactions and other items which the directors consider to be non-recurring and one time in nature. Where not explicitly mentioned, EBITDA refers to EBITDA from continuing operations.

Note regarding forward-looking statements

This announcement includes forward-looking statements, including statements concerning current expectations about future financial performance and economic and market conditions which GAN believes are reasonable. However, these statements are neither promises nor guarantees, but are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated.

Half-Year Results | Conference Call Details

The GAN management team will host a conference call for analysts & institutional investors at 4pm BST (11am EST / 8am PST).

Please use the following dial in numbers:

UK Participants: +44 (0) 800 756 3429

US & Canada Participants: +1 877-407-8629

International Participants: +1 201-493-6715

The Half Year Results Press Release and Presentation is available to download from the website, www.GAN.com

Half-Year Results | Webcast

The call will also be simultaneously webcast over the Internet via the following link:

https://78449.themediaframe.com/dataconf/productusers/gan/mediaframe/32225/indexl.html

and such link will also be made available in the "Results and Presentations" section of GAN's website www.GAN.com/investors/results-and-presentations

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. 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.

GAN Reports July 2019 Internet Gambling Growth for Pennsylvania

London & Dublin - August 19, 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 August 16, 2019, by the Pennsylvania Gaming Control Board ("PGCB") of Internet gaming and Internet sports betting financial information for the calendar month of July 2019 in Pennsylvania.

Highlights from the PGCB include:

· Internet Gaming Win was $2.9 million in July compared to $1.4 million in the prior sequential month, reflecting an increase of 100.7%.

· Total Internet Sports Wagering Handle(1) was approximately $39.0 million for the month of July, compared to:

- $19.3 million for the month of June;

- $0.6 million for the month of May; and

- nil for the month of April.

· Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of July were $2.9 million, compared to:

o $1.4 million for the month of June;

o nil for the month of May; and

o nil for the month of April.

(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 PGCB, in order to enable the investor community to readily monitor growth of Internet gambling in Pennsylvania, which remains a key market for GAN.

GAN Reports Strong July 2019 Internet Gambling Growth for New Jersey

Internet Gambling Win Increased 105.5% from prior year monthly period

London & Dublin - August 15, 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 August 14, 2019, by the New Jersey's Division of Gaming Enforcement ("DGE") of Internet gaming and Internet sports betting financial information for the calendar month of July 2019 in New Jersey.

Highlights from the DGE include:

· Internet Gaming Win was $39.3 million in July compared to $25.9 million in the prior year period, reflecting a year-over-year increase of 51.8%.

· Total Internet Sports Wagering Handle(1) was approximately $213.0 million for the month of July, compared to:

- $226.7 million for the month of June;

- $263.6 million for the month of May; and

- $254.0 million for the month of April.

· Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of July were $13.9 million, compared to:

o $6.9 million for the month of June;

o $13.7 million for the month of May; and

o $16.6 million for the month of April.

(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.

GAN Reports Q2 2019 Key Performance Indicators Highlighted by 128 Percent Growth in Gross Operator Revenue

LONDON & DUBLIN--(BUSINESS WIRE)--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 announced the release of quarterly key performance indicators1 for the second quarter of 2019, highlighting continued YoY growth reflecting high demand for Internet sports betting and casino cross-selling from Internet sports bettors into internet casino gaming in New Jersey.

“The extraordinary year on year growth rate experienced in Q2 reinforces our confidence in the U.S. strategy executed on by GAN following the repeal of PASPA, as well as our Platform technology’s ability to scale to meet the needs of our diverse clients. ”

Management Commentary

Dermot Smurfit, CEO of GAN commented:

“The extraordinary year on year growth rate experienced in Q2 reinforces our confidence in the U.S. strategy executed on by GAN following the repeal of PASPA, as well as our Platform technology’s ability to scale to meet the needs of our diverse clients.

The rapid rate at which States continued to legalize Internet gambling in Q2 continues to validate our confidence in the U.S. market opportunity and the seasonality in Q2 was both anticipated and exaggerated by U.S. Internet sports betting.

A dedicated Head of Investor Relations Mr. Jack Wielebinski, has been appointed to lead our U.S. investor relations efforts as well the implementation of an all-new GAN.com website before year’s end which will include substantial content and features designed both to serve existing investors and better-inform prospective investors on GAN’s exciting equity story, products and services.”

Second Quarter 2019 Highlights

This Quarterly publication discloses the Active Player-Days, Average Revenue Per Active Player-Day (ARPDAU) and Gross Operator Revenue, in which GAN participates worldwide in regulated real money Internet gambling markets and Simulated Gaming™.

  • Gross Operator Revenue, which comprises the sum of gross revenue from Simulated Gaming; gross gaming revenue from real money regulated Gaming; and gross sports win from real money regulated Sports betting, increased 128.3% year-over-year and -7.3% quarter-over-quarter to $54.8 million. This change was driven by strong growth in real money regulated gambling in the US.
  • Active Player-Days at 4.8 million is an increase of 52% year-over-year and decline of -9.9% quarter over quarter.

GAN Q2 Key Performance Indicators

1. The numbers contained herein are unaudited and derived from GAN’s internal business intelligence reporting systems


Company Schedules 2019 First Half Financial Results

The Company is expected to release its results for the half year period ended June 30, 2019 on September 27, 2019.

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. 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.

GAN supports launch of Internet sports betting in Pennsylvania by FanDuel Group

London & Dublin | July 31, 2019: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today announced the delivery of Internet sports betting in the State of Pennsylvania for the FanDuel Group ("FDG") following the January 10, 2019 announcement to be FDG's Platform for rapid deployment of Internet casino, and account services for Internet sports betting in Pennsylvania (pop. 13M), in addition to the long-standing existing services provided since 2013 by GAN to FDG in the State of New Jersey (pop. 9M).

The expanded relationship announced on January 10, 2019 is now commercially operational in Pennsylvania and represents a material increase in the value of the partnership to GAN.

Management Commentary

Jeff Berman, Chief Commercial Officer of GAN commented:

"The launch by FanDuel of Internet sports betting in the State of Pennsylvania extends our relationship across the border from neighboring New Jersey and represents a significant milestone for GAN. Our effective and compliant Platform represents a premium component of the supply chain rather than a commodity and our team delivered on-time for the #1 operator of Internet gambling in the U.S. today."

GAN Launches Internet Casino for Parx Casino

London & Dublin - July 23, 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 announces that GAN and Greenwood Gaming & Entertainment, Inc. trading as 'Parx Casino' ("Parx Casino") launched 24/7 Internet casino gaming in the Commonwealth of Pennsylvania on Wednesday July 17. This launch represents the second major launch of online services for Parx Casino, following the launch of internet sports betting on June 24, 2019.

At launch, Parx Casino was the only Internet casino offering the #1 market leading table game online, 'Pro Blackjack' (Pennsylvania Edition), developed and delivered by GAN to be compliant with Pennsylvania's specifically-approved blackjack game rules. A total of 47 casino games were released via desktop and mobile web together with an Android-compatible mobile App.

Selected casino slots and table games were delivered online for GAN's Development & Distribution clients, including major U.S. casino equipment manufacturers' Incredible Technologies, Everi Holdings, DEQ and KONAMI.

Parx Casino patrons can also link their Reward Card online to their counterpart Internet gambling account, enabled by GAN's U.S. patented integration framework.

Highlights

· The Pennsylvania regulated Internet Gaming market is forecast to generate $200m1 in gross gaming revenue online during the first twelve months of operation and Internet Sports betting is forecast to generate a further $189m2 in the same period.

· Parx owns and operates the #1 land-based casino property in Pennsylvania located a short distance from Philadelphia, Pennsylvania's largest city. In the most recent fiscal year ended June 30, 2018, Parx Casino generated $570m from on-property slot machines and table games, representing an 18% share of the Pennsylvania's $3.2bn gaming market.

· GAN's US-patented technology enables Parx Casino patrons enrolled in the on-property loyalty program, to sign up online and instantly link their reward cards to their online account permitting those guests to trade in their reward points earned from on-property gaming for cash online and/or to earn rewards points from Internet gaming and/or sports betting to be subsequently redeemed on-property.

Management Commentary

Dermot Smurfit, Chief Executive Officer of GAN commented:

"Launching the largest casino in Pennsylvania online, nearly two years after legislation first passed, appears to have been well worth the wait. GAN's shareholders can take heart that early indications appear supportive of Industry forecasts for Internet gambling in Pennsylvania and we look forward to expanding into other U.S. States for Parx Casino as well as for new clients, just as we have now expanded from New Jersey into neighbouring Pennsylvania. As the saying goes, 'experience counts' and GAN has the experience, capability and opportunity to remain a market leading B2B technology provider as more U.S. States regulate Internet gambling. On behalf of everyone at GAN, we would like to thank our client Parx Casino and the Pennsylvania regulator, the PGCB, for the privilege of serving Internet gambling to residents of your Commonwealth."

John Dixon, Chief Operating Officer of Greenwood Gaming & Entertainment, Inc commented:

"By leveraging GAN's proven Platform, Parx Casino has now deployed both Internet sports betting and Internet casino gaming, integrated with our Xclub on-property rewards program, to become among the very first Internet gambling operators to launch in the Commonwealth of Pennsylvania."

GAN Reports Strong June 2019 Internet Gambling Growth For New Jersey

London & Dublin - July 15, 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 July 13, 2019 by the New Jersey's Division of Gaming Enforcement ("DGE") of Internet gaming and Internet sports betting financial information for the calendar month of June 2019 in New Jersey.

Highlights from the DGE include:

· Internet Gaming Win was $38.1 million in June compared to $22.7 million in the prior year period, reflecting a year-over-year increase of 67.8%.

· Total Internet Sports Wagering Handle (1) was approximately $226.7 for the month of June, compared to:

- $263.6 million for the month of May;

- $254.0 million for the month of April; and

- $298.3 million for the month of March.

· Internet Sports Wagering Gross Revenues (2) (after payouts) for the month of June were $6.9 million, compared to:

o $13.7 million for the month of May;

o $16.6 million for the month of April; and

o $24.3 million for the month of March.

(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.

GAN Announces Favorable Second Quarter 2019

London & Dublin - July 1, 2019: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gambling software and services in the United States and Europe, today provides an update on trading for the second calendar quarter period ending June 30, 2019.

In the second calendar quarter period ending June 30, 2019 trading was ahead of expectations with the seasonal decline in Internet gambling volumes typically experienced during the early months of Summer mitigated by various factors including:

· High demand in Q2 for Internet sports betting on both basketball and baseball in New Jersey, despite the cessation in Q1 of the primary U.S. sports season relating to American Football; and

· Higher than expected casino cross-selling from Internet sports bettors into internet casino gaming in New Jersey during the Q2 period.


2019 Outlook

The outlook for 2019 continues to remain highly positive for GAN. Internet gambling services to Parx Casino, the largest casino in Pennsylvania, commenced on June 24, 2019 with Internet casino gaming for Parx Casino expected to commence later this month. In the second half of the year, GAN expects to launch internet gambling services for a number of additional clients. In addition, GAN expects to enter into a number of new contracts for real money internet gambling.

The Company now expects to see high double-digit revenue growth for the full year 2019.

The outlook for the full calendar year 2019 is contingent on (a) the market size and clients' market share and growth rate of Internet gambling in New Jersey and Pennsylvania; (b) the speed with which efficient marketing of the Overseas Internet Casino is conducted in European regulated markets by GAN; (c) the impact on Italian Internet casino market by the Italian ban on advertising gambling anticipated to be fully implemented in 2019.


Management Commentary

Dermot Smurfit, CEO of GAN, commented, "Continued demand for Internet sports betting in New Jersey, and the associated benefit to Internet casino gaming, has outperformed our expectations through the second calendar quarter. In the second half of this year, we remain focused on landing new clients, and expanding upon existing contracts with clients, in addition to preparing ourselves for a rapidly expanding market due to an acceleration in sports betting-led online gambling regulation in the United States as well as enabling browser-based Internet gambling on Apple iOS compatible mobile devices as mitigation of Apple, Inc. policy changes towards HTML5-based real money gambling Apps."


Company Schedules 2019 First Half Financial Results

The Company is expected to release its results for the half year period ended June 30, 2019 on September 27, 2019.

GAN Welcomes the Legalization of Online Sports Betting in the State of Maine

London & Dublin - June 24, 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, welcomes the signing and legalization of internet sports betting in Maine, and is the 15th State to legalize sports wagering in the US and the seventh to do so this year. Upon launch, 21% of the total US population will be able to place sports wagers online.

The sports betting bill received approval in both the House and Senate on Friday, June 21 and will go to the Governor who is expected to sign it within the next two weeks. With one of the lowest initial licence fees, the state could possibly begin issuing licenses in late September.

GAN Announces Material Additional Services for FanDuel Group in Pennsylvania

London & Dublin - June 20, 2019: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gambling software and services in the United States and Europe, today announces a material addition to the existing services provided to FanDuel Group ("FDG"), the U.S. business unit of Flutter Entertainment plc (formerly Paddy Power Betfair plc).

Management Commentary

Dermot Smurfit, CEO of GAN, commented, "The launch of an Internet casino service for another casino in Pennsylvania represents a material incremental revenue opportunity for GAN."

Company Schedules 2019 First Half Financial Results

The Company is expected to release its results for the half year period ended June 30, 2019 on September 27, 2019.

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. 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 Welcomes the Legalization of Online Sports Betting in the State of New Hampshire

London & Dublin - June 14, 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, welcomes the signing and legalization of internet sports betting in New Hampshire. New Hampshire is the 14th State to legalize sports wagering in the US and the sixth to do so this year. Following the launch, nearly 21% of the total US population will be able to place sports wagers online.  

The sports betting legislation received approval in the New Hampshire House yesterday, June 13th. The  bill will now go to the Governor, who has already included sports betting revenue in his state budget and is expected to sign the bill within the next three to four weeks.

Result of annual General Meeting

London & Dublin - June 12, 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, advises that all the resolutions posted to shareholders on May 16, 2019 and recommended by the Board of Directors at the Annual General Meeting of the Company held on June 12, 2019 were duly passed including the Cancellation Resolution to approve the proposed cancellation of admission of the Ordinary Shares to trading on Euronext Growth ("Cancellation").

Accordingly, as detailed in the Company's Notice of AGM and announcement of 16 May 2019, the last day of trading in Ordinary Shares on Euronext Growth will be 18 June 2019 and the Cancellation will take effect at 7.00 a.m. on 19 June 2019. The Cancellation Resolution applies only to Euronext Growth and will have no effect upon the admission of the Ordinary Shares to trading on AIM, which admission will continue.

AGM Statement

London & Dublin - June 12, 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, will hold its Annual General meeting today at noon today at 20 Warwick Street, London W1B 5NF.

At the meeting GAN's Chief Executive Officer, Dermot Smurfit, will make the following statement:

"Since last year's AGM, GAN has been firmly focused on taking advantage of the incremental U.S. Internet sports betting opportunity which we launched online in New Jersey in September 2018. Since launch, sports betting has driven substantial increases in our clients' revenues, in which GAN participates. We also prepared to launch Internet gambling in Pennsylvania for the largest retail operator, Parx Casino, as well as extending our relationship with FanDuel Group, the U.S. arm of Flutter Entertainment plc (formerly Paddy Power Betfair plc) to rapidly deploy our Platform in selected additional U.S. States. 2018 was clearly therefore a pivotal year for GAN.

"Since the beginning of 2019, we have witnessed the rapid and accelerating regulation of Internet gambling in other U.S. States including Montana, Indiana, Iowa, Tennessee and Illinois. Today, fifty-eight million (58M) Americans, representing nearly twenty percent (20%) of the entire U.S. population now have legislation in place permitting one or more forms of Internet gambling. Furthermore, Industry analysts believe more than half of all Americans will be permitted to gamble online as a result of accelerating incremental State-by-State regulation within just a few more years.

"This regulatory driver obviously creates a unique opportunity for GAN to leverage years of investment developing and optimizing its best-in-class technology and provides an environment to maximize the equity value of its unique U.S. industry position as a truly unique enterprise software technology Platform enabling regulated intra-State online gambling across America.

"Finally, we are especially pleased with our financial performance to date, building on the momentum achieved during the first quarter, during which we generated record revenues. All the Company's operational KPI's continue to trend positively and therefore remain excited by the potential for the remainder of the year, starting with the imminent launch of Parx Casino in Pennsylvania.

"In conclusion, 2018 was a pivotal year for GAN, and we firmly believe 2019 will be another year of tremendous operational and financial progress and I look forward to updating shareholders with our financial results for the first half of the current financial year in due course."

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. 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 to Present at 9th Annual LD Micro Invitational Investor Conference on Tuesday, June 4, 2019

London & Dublin - June 3, 2019: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, the Company's Chief Executive Officer, Mr. Dermot Smurfit, is scheduled to present at the 9th Annual LD Micro Invitational being held at the Luxe Sunset Boulevard Hotel in Los Angeles, CA on June 4-5, 2019.

The Company's presentation is scheduled for Tuesday, June 4, 2019 at 11:00 am PT / 2:00 pm ET. The conference will be webcast and can be accessed at: http://wsw.com/webcast/ldmicro16/gan/

The LD Micro Invitational will feature 230 companies and will be attended by over 1,000 individuals. For more information, or to schedule a one-on-one meeting with the Company, please contact David Scher at david@ldmicro.com

GAN Welcomes the Legalization of Internet Gambling in the State of Illinois

London & Dublin - June 3, 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, welcomes the signing and legalization of Internet gambling in Illinois. The bill will allow patrons to place sports wagers both in-person and online. Illinois is the 13th State to legalize sports wagering in the US and the fifth to do so this year. Following the launch, 19.9% of the total US population will be able to engage in internet gambling.

The Illinois Senate voted 46-10 on Sunday afternoon in favor of the Sports betting bill. The legislative 'Senate Bill 690' now goes to Illinois' Governor Pritzker, who's already confirmed he'll sign it into law.

Following Pennsylvania, and its population of 12.82 million, Illinois is to become the second largest State to legalize internet sports gambling in the US, with a population of 12.74 million. GAN foresees the legalization to be material to GAN's business, as the Company anticipates its existing clients to extend their online GAN-supported operations into the State of Illinois.  

GAN Welcomes Legalization of Sports Gambling in TN

London & Dublin - May 28, 2019: GAN plc (“GAN” or the “Company”), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, welcomes the signing and legalization of internet sports betting in Tennessee, allowing state-wide sports wagering exclusively via mobile and internet. Tennessee is the 12th State to legalize sports wagering in the US and the fourth to do so this year. Following the launch, 16% of the total US population will be able to place sports wagers online.

The Tennessee legislature passed a bill in the first week of May permitting online sports betting only on a State-wide basis, expected to commence on July 1st. The bill has now moved to the Governor, who has allowed the bill to become law without his signature. The law came into effect on May 25th.

There are no physical casino locations in the State of Tennessee. However, with an estimated population of 6.8 million the legalization of online sports wagering is expected to be material to GAN’s business, as the Company anticipates existing clients to extend their online GAN-supported operations into the State of Tennessee in 2019.

GAN Welcomes Regulation of Internet Gambling in Iowa

LONDON STOCK EXCHANGE (LSE): GAN – EURONEXT DUBLIN (EURONEXT GROWTH): GAME 
 
GAN Welcomes Regulation of Internet Gambling in Iowa
 
London & Dublin - May 15, 2019: GAN plc (“GAN” or the “Company”), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, welcomes the signing and legalization of sports betting in Iowa, including state-wide use of mobile and internet wagering. Iowa is the 11th State to legalize sports betting in the US and the third to do so this year.  
 
With 19 casinos eligible to offer sports betting in the State of Iowa and a population of 3.2 million, the number of Americans who will be permitted to bet on sports online materially increases. GAN is strongly positioned to serve Iowa’s casino operators and anticipates servicing one or more land-based casino in the state in 2019.
 
Management Commentary
 
Dermot Smurfit, CEO of GAN commented:
 
“Iowa is the third state to legalize sports betting in 2019, following Indiana and Montana, both of which passed legislation in the past few weeks. Although there is no saying for certain, we anticipate this trend to continue, and remain prepared to service more States as they come online.

GAN Reports Strong April 2019 Internet Gambling Growth For New Jersey

LONDON STOCK EXCHANGE (LSE): GAN – EURONEXT DUBLIN (EURONEXT GROWTH): GAME 
 
GAN Reports Strong April 2019 Internet Gambling 
Growth For New Jersey

Total Internet Gaming Win Increased 58.9% from prior year monthly period
 
London & Dublin - May 15, 2019: GAN plc (“GAN” or the “Company”), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today updated the market following the publication on May 14, 2019 by the New Jersey’s Division of Gaming Enforcement (“DGE”) of Internet gaming and Internet sports betting financial information for the calendar month of April 2019 in New Jersey. 
 
Highlights from the DGE include:
  • Internet Gaming Win was $36.6 million in April compared to $23.0 million in the prior year period, reflecting a year-over-year increase of 58.9%.
  • Total Internet Sports Wagering Handle (1) was approximately $254.0 million for the month of April compared to $298.3 million for the month of March and $259.0 in the month of February 2019.
  • Internet Sports Wagering Gross Revenues (2) (after payouts) for the month of April were $16.6 million, compared to March’s $24.3 million and February’s $15.5 million
  • Combined (3) Internet Gambling Revenues were $53.1 million for the month compared to $63.4 million in the previous month, but up 131% on a year-over-year basis when compared to April 2018
 
  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
  3. Combined revenue includes casino games, poker and sports
 
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.

GAN Welcomes Regulation of Internet Gambling in Indiana

LONDON STOCK EXCHANGE (LSE): GAN – EURONEXT DUBLIN (EURONEXT GROWTH): GAME 
 
GAN Welcomes Regulation of Internet Gambling in Indiana
 
London & Dublin - May 13, 2019: GAN plc (“GAN” or the “Company”), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States and Europe, welcomes the signing and legalization of sports betting in Indiana, including state-wide use of mobile and internet wagering. Indiana is the the 10th State to legalize and regulate sports betting in the US, following Montana’s legalization of single-game wagering via state lottery last week.
 
GAN anticipates serving one or more land-based casino operators in Indiana with real money Internet gambling technology and supporting services in 2019.
 
With a population of 6.73 million, the State of Indiana materially increases the number of Americans who will be permitted to bet on sports online. GAN is strongly positioned to serve Indiana’s casino operators in the State following a successful launch of Internet casino and sports betting in the State of New Jersey in September 2018 and an expected launch in Pennsylvania in the coming months.
 
Management Commentary
 
Dermot Smurfit, CEO of GAN commented:
 
“With ten States now having passed sports wagering laws in the US, we remain increasingly confident that more states will legalize as the regulatory cycle for sports gambling in the US continues to gain momentum. GAN has been preparing for sports gambling legalization since Q4 2017 and is ready to service casinos and sportsbooks as States legislation moves forward. ”
 
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.  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) and on Euronext Dublin (Euronext Growth: GAME).
 
For more information please visit www.GAN.com.
 
 

 
For further information please contact:
 
GAN US Investors: The Equity Group
Jameson Wang Adam Prior
VP, Investor Relations & Analytics aprior@equityny.com
jwang@GAN.com
+1 (310) 384-1132
212.371.8660
   
  UK & Ireland Investors: Walbrook PR
  Paul Cornelius
  GAN@WalbrookPR.com
  +44 20 7933 8780
 
  Davy (Nominated Adviser, Euronext Growth Adviser and Joint Broker)  
  John Frain / Barry Murphy  
  +353 1 679 6363  
   
Liberum (Joint Broker)
 
  Neil Patel / Cameron Duncan  
  +44 (0) 20 3100 2000  

GAN Announces Chief Financial Officer Transition

LONDON STOCK EXCHANGE (LSE): GAN  – EURONEXT DUBLIN (EURONEXT GROWTH): GAME
 
GAN Announces Chief Financial Officer Transition
 
Richard Santiago to Depart in Q3 2019 to Pursue an Alternative Opportunity. Mr. Rey del Valle appointed Chief Financial Officer-designate
 
London & Dublin | May 13, 2019: GAN plc (“GAN” or the “Company”) a leading B2B supplier of Internet gambling enterprise software-as-a-service solutions to the US land-based casino Industry, today announces the Company’s Chief Financial Officer (“CFO”) and executive Director Richard Santiago will leave GAN effective 19 July 2019 to pursue an alternative opportunity in an unrelated Industry. As a result, GAN today announces the appointment of Mr. Rey del Valle as Chief Financial Officer-designate, who brings to GAN his significant financial experience in online gaming, with both deep U.S. Tech industry knowledge and specialist expertise relating to the financial operations of U.S. listed companies. 
 
Management Commentary
 
Dermot Smurfit, CEO of GAN commented:
 
“I would like to congratulate Richard on the opportunity he has secured in an unrelated Industry.  I look forward to continuing to work closely with Richard and the finance team in the months ahead as we onboard his successor Rey del Valle and maintain full momentum on executing GAN’s growth strategy.”
 
Richard Santiago, CFO of GAN commented:
 
“GAN is now at the forefront of digital betting and gaming technology in the U.S. with phenomenal growth momentum self-evident in recent quarterly key performance indicators. It is with regret that I have elected for personal reasons to leave GAN at this exciting time, to pursue another opportunity. I wish to thank everyone at GAN for their support and look forward to seeing GAN realize the continuing opportunity of U.S. Internet gambling.”
 
Rey del Valle, CFO-designate of GAN commented:
 
“This is an extraordinary opportunity to join Dermot and his leadership team to help develop their unique software-as-a-service tech company with a hard-earned market leading position in the fast-regulating U.S. Internet gambling market. I look forward to transitioning into the role in the coming weeks.
 
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.  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) and on Euronext Dublin (Euronext Growth: GAME).
 
For more information please visit www.GAN.com.
 
 
For further information please contact:
 
Jameson Wang Investors: The Equity Group
VP Investor Relations & Analytics Adam Prior
jwang@gan.com
310.384.1132
aprior@equityny.com
212.371.8660
   
   
 
  Davy (Nominated Adviser, Euronext Growth Adviser and Joint Broker)  
  John Frain / Barry Murphy  
  +353 1 679 6363  
   
Liberum (Joint Broker)
 
  Neil Patel / Cameron Duncan  
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GAN Reports Strong March 2019 Internet Gambling Growth For New Jersey

Total Internet Gaming Win Increased 52.7% from prior year monthly period

London & Dublin - April 15, 2019: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today updated the market following the publication on April 12, 2019 by the New Jersey's Division of Gaming Enforcement ("DGE") of Internet gaming and Internet sports betting financial information for the calendar month of March 2019 in New Jersey.

Highlights from the DGE include:

· Internet Gaming Win was $39.1 million in March compared to $25.6 million in the prior year period, reflecting a year-over-year increase of 52.7%.

· Total Internet Sports Wagering Handle (1) was approximately $298.3 million for the month of March 2019, up from $259.0 million in February 2019, but slightly down from $305.0 million in January 2019.

· Internet Sports Wagering Gross Revenues (2) (after payouts) were $24.3 million, up significantly from February's $12.8 million and January's $15.5 million.

(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™, 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) and on Euronext Dublin (Euronext Growth: GAME).

For more information please visit www.GAN.com.

GAN Reports Q1 2019 Key Performance Indicators Highlighted by 148.3% Growth in Gross Operator Revenue

London & Dublin - April 1, 2019: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today announced the release of quarterly key performance indicators for the first quarter of 2019, highlighting continuingly strong momentum with all business units of the Company (Real-Money Gaming, Simulated Gaming, Online Sports Betting) operating at record levels in Q1 2019.

Management Commentary
Dermot Smurfit, CEO of GAN commented:

"Internet Sports betting in New Jersey driven by national events such as the Super Bowl (American Football) and NCAA college basketball's 'March Madness' continued to fuel exceptional growth of Gross Operator Revenue in this first quarter of 2019, as well as amplify the positive impact to Casino revenues from the cross-over of sports gamblers to casino games."

First Quarter 2019 Highlights
This Quarterly publication discloses the Active Player-Days, Average Revenue Per Active Player-Day (ARPDAU) and Gross Operator Revenue, in which GAN participates worldwide in regulated real money Internet gambling markets and Simulated Gaming™.

· Gross Operator Revenue, which comprises the sum of gross revenue from Simulated Gaming; gross gaming revenue from real money regulated Gaming; and gross sports win from real money regulated Sports betting, increased 148.3% year-over-year and 41.4% quarter-over-quarter to $59.1 million. This increase was driven by strong growth in real money regulated gambling in the US.

· Active Player-Days increased to 5.3 million, an increase of 65.6% year-over-year and 14.4% quarter over quarter.

· Exceptional growth experienced in New Jersey driven regulated Internet Sports betting.

Screen Shot 2019 04 01 at 9.50.29 AM


(1) The numbers contained herein are unaudited and derived from GAN's internal business intelligence reporting systems

GAN reports strong February 2019 internet gambling growth for New Jersey

London & Dublin - March 15, 2019: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today updated the market following the publication on March 13, 2019 by the New Jersey's Division of Gaming Enforcement ("DGE") of Internet gaming and Internet sports betting financial information for the calendar month of February 2019 in New Jersey.

Highlights from the DGE include:

· Internet Gaming Win was $31.7 million in February compared to $22.0 million in the prior year period, reflecting a year-over-year increase of 44.4%.

· Total Internet Sports Wagering Handle (1) was approximately $259.0 million for the month of February 2019, slightly down from $305.0 in January 2019, but up from $241.0 million in December of 2018.

· Internet Sports Wagering Gross Revenues (2) (after payouts) were $12.9 million, compared to January's $15.5 million and December's $14.7 million.

(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 such as the Super Bowl 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.

GAN Announces Extension of Parx Casino Contract into New Jersey; Awarded US Gaming License Award from Pennsylvania Gaming Control Board

Maintains CY2019 Guidance of mid-high double-digit percentage revenue growth and positive EBITDA

London & Dublin, March 11, 2019: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content, today announced that GAN and Greenwood Gaming & Entertainment, Inc. trading as 'Parx Casino' ("Parx Casino") have extended their relationship and Parx intends to offer Internet sports betting and casino gaming in the State of New Jersey subject to approval by the relevant NJ regulatory authority, as well as in the State of Pennsylvania as previously announced on July 30, 2018 with commercial launch expected in 2019.

US Gaming License Award
On March 6, 2019, the Pennsylvania Gaming Control Board ("PGCB") conditionally approved GAN plc as an Interactive Gaming Manufacturer, a key step for GAN which reflects the Company's reputation and long-held commitment to transparency, compliance and probity. This license is GAN's second gaming license in the US following the receipt of a full Casino Service Industry Enterprise license in the neighbouring State of New Jersey in April 2017.

The Pennsylvania licensing fee now payable of $10,000 is significantly lower than the Company's previous expectations for $1M in direct licensure costs for delivering interactive gaming services to clients in Pennsylvania.

GAN further notes the conditional license by the PGCB of Betfair Interactive US, LLC ("Betfair") for a Sports Wagering Operator License. Betfair and its parent company FanDuel Group is a client of GAN for Internet gambling services in the State of Pennsylvania as previously announced on January 10, 2019.

Maintains CY2019 Guidance As Pennsylvania Internet Gaming Market Expected to Commence in Summer 2019
Following discussions with its clientele, GAN expects the Internet gambling market in Pennsylvania to commence in Summer 2019. Based on current strong trading conditions experienced year to date and lower Pennsylvanian licensing costs, the Company remains confident in the CY2019 full year guidance provided on January 25, 2019.

The Company expects mid-to-high double-digit percentage year on year revenue growth in FY 2019 and full year positive EBITDA1, based on the current fixed cost base. The Board does not anticipate any additional capital requirement on the current business plan and the Company is therefore fully funded.

GAN: Overview
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. 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) and on Euronext Dublin (Euronext Growth: GAME).

For more information please visit www.GAN.com

References
1 Clean EBITDA is a non-GAAP Company specific measure and excludes interest, tax, depreciation, amortisation, share based payment expenses and other items which the directors consider to be non-recurring and one time in nature.

GAN Awarded ‘Best B2B Social Slot Company’

Prestigious Industry Award from leading US gaming research firm Eilers & Krejcik Gaming

London & Dublin, March 4, 2019: GAN plc (“GAN” or the “Company”), an award-winning developer
and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in
the United States, today announces GAN’s Simulated Gaming service for US casino operators won the
award for ‘Best B2B Social Slot Company’ at the Eilers & Krejcik Gaming LLC Industry event held on
Thursday February 28, 2019 in The Bellagio Hotel and Casino, Las Vegas, Nevada.

Competitors for this major Industry award included large casino equipment manufacturers such as
Scientific Games and Novomatic. Beating major US incumbents reaffirms the Company’s belief in the
competitive advantages inherent in GAN’s US-patented technology Platform and supporting services,
offering casinos in all US States the opportunity to launch a ‘freemium’ online gaming experience.
GAN’s ‘Simulated Gaming’ leverages the Casino’s retail loyalty program and delivers multiple proven
success factors: Reactivation of lapsed retail customers, increased retail visitation by existing
customers together with incremental high-margin income in the online channel.

Highlights
• US leading gaming research firm Eilers & Krejcik Gaming LLC (“EKG”) hosted the first Annual EKG
Slot Awards on February 28, 2019 to acknowledge excellence in slot machine game development
within the US casino gaming Industry – including both land-based slot development as well as
social casino games. Awards are determined by the principals of EKG together with a panel of
Industry executives from the online Social Casino Industry.

• Approximately two-thirds of all patrons who frequent land-based US casinos are believed to also
play multiple ‘freemium’ slot games online offered by online-only operators. GAN’s retail casino
clients of Simulated Gaming capture an incremental share of their customers’ existing online
spend, by offering a ‘freemium’ Internet casino gaming experience which closely resembles the
on-property casino gaming experience.

• GAN’s US-patented technology enable the client’s customers enrolled in the retail Casino loyalty
program to sign up online, instantly link their retail loyalty card to their online account and receive
loyalty points in exchange for diverse online actions such as spending money, referring friends or
other non-gaming actions. Loyalty points received from online activity are subsequently
redeemed in the retail Casino property for free hotel room stays, free buffet meals and/or free
gambling on any of the slot machines available inside the Casino.

Management Commentary
Dermot Smurfit, Chief Executive Officer of GAN commented, “Eilers & Krejcik is a pre-eminent and
highly respected gaming research firm in the US and their recognition of our achievements are
sincerely welcomed by everyone at GAN. We firmly believe GAN offers an extremely effective path for
US casinos seeking to move online and engage their retail gaming customers in the online channel.
Our patented technology Platform places loyalty program at the heart of the online experience and
delivers increased share of their customers’ existing wallet. We look forward to continuing our service
to the US casino operators.”

Trading Statement & Notice of Results

GAN Expected to Post 2018 Year-End Financial Results Ahead of Expectations

London & Dublin - January 25, 2019: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gambling software and services in the United States and Europe, today provides a trading update ahead of its preliminary results for the year ended December 31, 2018 (FY 2018) and guidance for 2019.

2018 Financial Highlights
Trading for FY 2018 is expected to be ahead of market expectations with revenue between £10.5M to £11.3M versus £9.1M for FY 2017. This result was primarily driven by real money Internet gambling which increased H2 2018 revenue by more than 40% over H1 2018. High quality recurring revenues represented approximately 85% of total revenue for the period, with almost two thirds originating from the US, the Company's key geographic market.

GAN ended the period with a strong debt-free balance sheet with £5.3M in cash as at December 31, 2018. EBITDA1 losses for the year are expected to be between £1.0M and £1.5M, due to continued investment in technical development resources throughout H2 2018 to enable the successful launch of the new Internet gambling services for clients in West Virginia, Pennsylvania, and New Jersey in H1 2019.

2019 Outlook
The outlook remains highly positive due to continued and rapid growth in real money Internet gambling delivered for clients in both the US and European markets. The Company therefore expects the strong momentum achieved during H2 2018 to continue into FY 2019. As such, management expects mid to high double digit percentage year on year revenue growth in FY 2019 and full year positive EBITDA1, based on the current fixed cost base.

The Board does not anticipate any additional capital requirement on the current business plan and the Company is therefore fully funded as it enters FY2019.

Management Commentary
Dermot Smurfit, CEO of GAN commented:

"We are delighted with our performance in 2018, which sets us up for strong growth in our business in 2019. Our intellectual property and technical expertise put us at the forefront of the internet sports betting and casino gaming market as demonstrated by our strong client base. Our recent contract announcements and expectation for further legislation to pass in new States in the US means that 2019 is set to be a very exciting year.

"We exceeded market expectations for revenue growth in 2018, having successfully launched Internet Sports betting in New Jersey. Our successful £7.5 million fund raising has enabled us to rapidly deliver for our clients and repay £2M in short term debt. Going into 2019, we are strategically well placed to deliver profitable growth in 2019."

Further information regarding trading during the period can be found below:

New Jersey & Pennsylvania Internet Gambling
Internet sports betting has exceeded initial expectations in the first 143-day operating period (to 21 January 2019). The positive impact in trading has been reflected by the Company's reported Key Performance Indicators for Q4 2018 published on the 17th of January 2019.

GAN's second client in New Jersey, Ocean Resort Casino ("ORC"), opened its land-based casino in Atlantic City on the 28th of June 2018. The Internet casino was delivered to ORC by GAN and went live on July 10th, 2018. The growth of ORC's Internet casino has been driven by substantial innovation in both product and bonusing, resulting in ORC's out-performance with their Internet casino relative to their retail gaming market share.

In Pennsylvania, preparations for the launch of Internet sports betting and Internet casino gaming for clients substantially progressed with commercial market commencement expected in H1 2019. GAN's clients in Pennsylvania include the #1 casino operator in the State, Parx Casino and the #1 operator of Internet gambling in New Jersey, PPB's FanDuel Group.

Simulated Gaming
GAN's US-facing Simulated Gaming business continued to benefit from growth among existing major US casino operator clients of Simulated Gaming including Chickasaw Nation's WinStar World Casino and Resort in Oklahoma and San Manuel Band of Mission Indians in California launched in 2017 and 2015, respectively. In Q4 2018, Simulated Gaming was launched for the Mississippi Band of Choctaw Indians, the owners of two major casino properties in Mississippi. As at December 31, 2018 GAN operated Simulated Gaming for 13 clients comprising principally of major US casinos (December 31, 2017: 13).

Overseas Internet Casino & Italy
The Overseas Internet Casino delivered to the Chickasaw Nation, which is available online at http://casino.WinStar.com, was substantially developed by GAN throughout 2018 and is designed to target selected regulated markets in Europe and the rest of the world. It was developed to deliver a unique casino gaming experience, comprising of exclusive casino slot games recognised on retail gaming floors worldwide together with an innovative bonusing program designed to incentivise visitation by Europeans to our client's US casino properties.

On September 12th, 2018 user acquisition marketing of the Overseas Internet Casino commenced through GAN Digital, the Company's Israel-based marketing services agency principally established in H1 2018. A more detailed update will be provided as part of the earnings call and calendar year 2019 outlook on March 29, 2019.

The Italian market grew rapidly in H2 2018 despite the practical implementation of the ban on the advertising of gambling in Italy which favours GAN's Italian clients as substantial operators of retail gambling premises. The Italian business performed in line with the Board's expectations for the full year 2018 and growth has continued during the seasonally strong Winter period.

Patent
The US Patent2 comprises multiple claims, principally for linking on-property rewards accounts held within casino management systems to patrons' online accounts held within an Internet gaming system, in addition to delivering a converged online-to-on-property experience for US casino patrons.

On December 31, 2018 GAN entered into a material licensing agreement, which included a non-exclusive license of GAN's Patent for a five-year term. The financial terms of the patent license are not disclosed. This Patent has now been licensed more than a dozen times by GAN to major US casino operators for the conduct of both real money Regulated Gaming and Simulated Gaming in the United States.

GAN has now placed a selected number of US casino operators on notice of GAN's Patent and associated intellectual property and anticipates concluding additional commercial licensing arrangements which shall contribute to GAN's revenue and earnings in 2019.

US Regulatory Developments
With respect to online sports betting in the US, GAN welcomed the repeal of the Professional and Amateur Sports Protection Act 1992 ("PASPA") by the US Supreme Court on the 14th of May 2018. The reported success of the Internet sports betting market in New Jersey in H2 2018 has resulted in an increase in the speed of regulation of intra-State Internet gambling and it is believed that seven additional US States are now considering the rapid regulation of Internet gambling including Michigan, Oregon, New York, Indiana, Kansas and Louisiana3 together with Massachusetts4.

Aligned with Industry consensus5 it is GAN's belief that state authorized, intra-State online, non-sports wagering gambling is legally permissible under the Wire Act, even as construed in the Department of Justice's recent Memorandum Opinion released on January 14, 2019. GAN is in regular communication with State regulatory agencies in all jurisdictions in which it does business and goes to great lengths to ensure that it is in good standing and that it is fully compliant with all applicable legal and regulatory requirements. There is no expected impact on US operations or growth plans.

London Headquarter Relocation
On Monday, December 17, 2018 GAN's UK team, including management, officially relocated to London's financial district from its previous headquarter location in Kensington. The relocation will result in a UK rent expense annual savings of £0.75M for the Company in 2019. The Company's registered office address is now Axe & Bottle Court, 70 Newcomen Street, London SE1 1YT.

Notice of Results
The Company will release its results for the year ended December 31, 2018 on March 29, 2019 when additional context on the success of Internet gambling services will be provided.

GAN: Overview
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. 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) and on the Irish Stock Exchange (ISE: GAME).

For more information please visit www.GAN.com

References
1 Clean EBITDA is a non-GAAP Company specific measure and excludes interest, tax, depreciation, amortisation, share based payment expenses and other items which the directors consider to be non-recurring and one time in nature.

2 Network Gaming System and Casino Management System Link, patent number 8,821,296 ("the Patent"), issued to GAN by the United States Patent and Trademark Office ("USPTO") on September 2, 2014. The Patent was subjected to an ex parte re-examination process which successfully concluded in 2017 in favour of GAN with the issuance of a certificate by the United States Patent and Trademark Office ("USPTO") confirming the validity of GAN's claims within the Patent.

3 Eilers & Krejcik Gaming LLC, January 10, 2019 report 'U.S. Sports Betting | 2019 Legislative Outlook'

4 Press reports on the introduction of Internet sports betting bills in Massachusetts
https://www.legalsportsreport.com/27721/massachusetts-sports-betting-bills-drop/
https://www.legalsportsreport.com/27757/massachusetts-sports-betting-bill-gov-baker/

5 American Gaming Association statement on January 18, 2019
https://www.americangaming.org/new/aga-statement-on-doj-reinterpretation-of-the-wire-act/

GAN Reports Q4 2018 Key Performance Indicators Highlighted by 103.9% Growth in Gross Operator Revenue

London & Dublin - January 17, 2019: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today announced the release of quarterly key performance indicators for the fourth quarter of 2018, highlighting exceptionally strong momentum with all business units of the Company (Real-Money Gaming, Simulated Gaming, Online Sports Betting) operating at record levels in Q4 2018.

Management Commentary
Dermot Smurfit, CEO of GAN commented:

"Internet Sports betting in New Jersey drove exceptional growth of Gross Operator Revenue in the last quarter of 2018 with a significant positive impact on Casino revenues from cross-selling casino games to sports gamblers."

Fourth Quarter 2018 Highlights
This Quarterly publication discloses the Active Player-Days, Average Revenue Per Active Player-Day (ARPDAU) and Gross Operator Revenue, in which GAN participates worldwide in regulated real money Internet gambling markets and Simulated Gaming™.

· Gross Operator Revenue, which comprises the sum of gross revenue from Simulated Gaming; gross gaming revenue from real money regulated Gaming; and gross sports win from real money regulated Sports betting, increased 103.9% year-over-year and 56.4% quarter-over-quarter to $41.8 million. This increase was driven by strong growth in real money regulated gambling in the US and Europe.

Existing KPIs

Q4 2017

Q1 2018

Q2 2018

Q3 2018

Q4 2018

Gross Operator Revenue

$20.5M

$23.8M

$24.0M

$26.7M

$41.8M

% Change YoY

+35.6%

+39.0%

+32.2%

+40.1%

+103.9%

% Change QoQ

+7.6%

+16.2%

+0.8%

+11.3%

+56.4%

Active Player-Days

3,066,920

3,194,907

3,133,054

3,402,065

4,618,215

% Change YoY

+50.5%

+43.4%

+20.5%

+13.5%

+50.6%

% Change QoQ

+2.3%

+4.2%

-1.9%

+8.6%

+35.7%

ARPDAU

$6.68

$7.55

$7.66

$7.85

$9.05

% Change

+5.1%

+12.9%

+2.8%

+2.5%

+15.2%

· Active Player-Days increased to 4.6 million, an increase of 50.6% year-over-year and 35.7% quarter over quarter.

· Exceptional growth experienced in New Jersey driven regulated Internet Sports betting.

Mr. Jameson Wang joined the Company on January 7, 2019 in the new role of Vice President of Analytics and Investor Relations and can be reached on jwang@GAN.com.

GAN Announces Major US Expansion with the FanDuel Group

London & Dublin | January 10, 2019: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today announced the signing of a material long-term deal with the FanDuel Group ("FDG") to be FDG's Platform for rapid deployment of Internet casino, and account services for Internet sports betting in Pennsylvania (pop. 13M) and West Virginia (pop. 1.8M), in addition to the existing services provided since 2013 by GAN to FDG in the State of New Jersey (pop. 9M).

This expanded contract represents a material increase in the value of the partnership to GAN across revenue share, professional services and patent licensing fees.

As part of the contract expansion FDG has agreed to license GAN's US Patent. GAN's patented technology allows land-based casino patrons enrolled in on-property loyalty programs to link existing loyalty cards to Internet gambling accounts and receive loyalty points in exchange for online gambling. Linking of patrons' loyalty cards is proven to greatly enhance online engagement by US casino patrons as well as substantially increasing lifetime value realized online through increased monetization and retention. Management believes that the recognition of GAN's US Patent significantly underpins GAN's intangible asset value and could potentially lead to further client partnerships and US Patent licensing revenue opportunities

Deal Highlights

·     Second client in the State of Pennsylvania (FanDuel Group) in addition to Parx Casino

·     Two additional US States (PA, WV) represent a combined population of approximately 14.8M

·     Licensure of strategic US Patent for linking US casino patrons' loyalty cards to their online gambling accounts, greatly enhancing GAN's IP licensing & enforcement program

·     Initial rapid deployment of FanDuel into both West Virginia and Pennsylvania

·     Five-year contract term extension commencing in 2019 and ending in 2024

Management Commentary

Dermot Smurfit, CEO of GAN commented:

"The contract extension combined with US Patent licensing represents a significant milestone in GAN's US evolution and reinforces our view that in the heavily regulated US online gambling market, effective and compliant 'platforms' are a premium component of the supply chain rather than a commodity. GAN is therefore very well placed to capitalize on the growth in US online gambling markets in terms of new operator clients, new States and underlying growth momentum."

GAN Announces Michigan Becomes Sixth State to Regulate Internet Gambling in the U.S.; Expects to Serve Land-Based Casino Operators in 2019

London & Dublin | December 21, 2018: GAN plc ("GAN" or the "Company") a leading B2B supplier of Internet gambling enterprise software-as-a-service solutions to the US land-based casino Industry, welcomes today's final approval by both the Michigan Senate and the Michigan House of Representatives of HB 4926 a bill that includes provisions for the legalisation of full real money Internet casino gaming in the state as well as Internet sports betting. The bill will now be presented to the Governor of Michigan and may then be signed into law at the Governor's discretion. 

GAN anticipates serving one or more land-based casino operators in Michigan with real money Internet gambling technology and supporting services commencing in 2019.

With a population of 10.0 million, the State of Michigan materially increases the number of Americans who will be permitted to play Internet casino games and bet on sports online. The Michigan regulated Internet gambling market is now expected to commence in 2020 and GAN is strongly positioned to serve Michigan casino operators in that State following successful launch of Internet casino and sports betting in the State of New Jersey in September 2018 and the forthcoming launch in Pennsylvania in H1 2019.

Management Commentary

Dermot Smurfit, CEO of GAN commented:

"Michigan is now America's sixth State to regulate Internet gambling, joining Nevada, Delaware, New Jersey, Pennsylvania and West Virginia. This reinforces our belief that the regulatory cycle for Internet gambling in the US will now be rapid. GAN is one of only two fully licensed B2B-only platform vendors in New Jersey, the largest casino in Pennsylvania as a client and one of the very few B2B-only technology vendors with the requisite technical expertise and 'day one' New Jersey experience to credibly serve Michigan's land-based casinos."

GAN Announces Partnership with Major European Slot Manufacturer, SYNOT

London & Dublin | December 21, 2018: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today announced the signing of a material long-term deal with Czech Republic-based slot machine and gaming technology manufacturer, SYNOT with a contract value in excess of £400,000 ($500,000).

SYNOT is a major manufacturer of physical gaming machines and designer of diverse gaming software, with gaming business activities across Europe, Asia and Africa. Under the terms, GAN will distribute six SYNOT-designed premium casino games, including their flagship slot title, "Alchemist's Gold", to the US market through GAN's proprietary 'GameSTACK' Internet Gambling Platform (IGS). The multi-year deal includes paid-for development fees and ongoing revenue-share participation throughout the term. All games are expected to be launched and fully functional by the end of 2019 and will be released as both Simulated Gaming and Real Money Gaming titles contingent on US regulatory State laws.

Management Commentary

Dermot Smurfit, CEO of GAN commented:

"We are excited to begin working with SYNOT and look forward to bringing their successful European slot titles to select US markets. The deal solidifies GAN's US market position as a viable route for international and domestic gaming companies to gain immediate access to the new and fast-growing regulated US online gaming market. We expect full US-integration of all 6 SYNOT titles to be completed by the end of 2019 and expect material impacts to GAN's 2019 EBITDA and revenue in the same period."

GAN Announces Exercise of Options

London & Dublin | December 21, 2018: GAN plc ("GAN" or the "Company"), announces today the exercise of options by Mr. Dermot Smurfit, Chief Executive Officer, who exercised 200,000 stock options on December 11, 2018 to acquire new ordinary shares at an exercise price of 25p per new ordinary share at a total cost of £50,000 which was subsequently received by the Company on December 21, 2018.

Management Commentary

Dermot Smurfit, CEO of GAN commented:

"As the Company's CEO, a major long-term shareholder and substantial holder of options over additional ordinary shares, I expect to continue to invest in GAN through progressive future exercises of vested share options."

After the transaction, Mr. Smurfit holds a total of 8,863,447 ordinary shares in the Company, representing 10.42% of the Company's total issued share capital. Mr. Smurfit currently holds vested stock options to exercise and acquire up to an additional 416,564 new ordinary shares as per the company's 2017 Stock Options Plan together with a further 1,229,436 which have yet to vest.

The total number of extant options over ordinary shares issued to the Directors is 2,346,000 and represents 2.76% of the issued share capital of 80,051,924 ordinary shares.

GAN Announces Launch of Simulated Gaming Website for Pearl River Resort in Choctaw Mississippi

Represents 14th Simulated Gaming™ Launch Throughout U.S.

London & Dublin | December 17, 2018: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today announced the launch of the Simulated Gaming Website for the Pearl River Resorts portfolio, consisting of 3 casinos in Choctaw, Mississippi. Customers can play at https://freeplay.pearlriverresort.com.

GAN previously announced the partnership with Mississippi's Choctaw Indians on April 30, 2018 and can be found here. The Company has since launched the Simulated Gaming Website on schedule and has seen a strong initial response from a new regional US gaming market. Pearl River has also agreed to license GAN's US Patent addressing loyalty awards linking, marking the 14th US client to do so.

Management Commentary

Dermot Smurfit, CEO of GAN commented:

"Pearl River is one of America's largest Native American casino resort properties, and the largest casino resort in Mississippi.  This represents a brand new, strategic market for GAN, and we look forward to working with Pearl River to grow their Simulated Gaming business in the coming months.  In the first half of 2018, GAN grew gross purchases by players by over 52% due to both new launches and existing expansion.  GAN now has successfully launched Simulated Gaming websites for 14 clients across 11 states, and we continue to see incremental opportunity to scale this segment through online/on-property marketing activity and working with our casino partners to expand user interaction and engagement."

GAN Reports Strong November Internet Gambling Growth For New Jersey

Total Internet Gaming Win increased 30.7% from prior year monthly period

Total Internet Sports Wagering Handle increased 36.8% From October 2018

London & Dublin | December 13, 2018: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today updated the market following the publication on December 12, 2018 by the New Jersey's Division of Gaming Enforcement ("DGE") of Internet gaming and Internet sports betting financial information for the calendar month of November 2018 in New Jersey. 

Highlights from the DGE include:

·     Internet Gaming Win was $26.9 million in November compared to $20.6 million in the prior year period, reflecting a year-over-year increase of 30.7%.

·     Total Internet Sports Wagering Handle(1) was approximately $238.6 million for the month of November 2018, an increase of 36.8% from $174.4 million in October 2018.

·     Sports Wagering Gross Revenues(2) (after payouts) were $21.2 million, compared to October's $11.7 million, for a month-over-month increase of 81.2%.

(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 such as the Super Bowl 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.

Launch of Internet Gaming for Goldbet

9TH client launch cements GAN’s position as the market leader in delivering Internet gaming content in Italy

London & Dublin | November 26, 2018: GAN plc (“GAN” or the “Company”), an award-winning developer and supplier of enterprise-level B2B Internet gambling software and services, today announces the launch of Internet gaming content for GOLDBET Srl (“Goldbet”) a leading Italian sports betting & casino gaming operator in Italy’s regulated market.

Further to the announcement on April 17, 2018 announcing Goldbet as the Company’s 9TH client in Italy, GAN has now integrated its Platform in Italy and launched internet gaming content for Goldbet. Goldbet operates a substantial network of more than 900 retail gambling shops accounting for approximately three per cent market share of Internet casino gaming in Italy.

Today, GAN delivers more than 500 high-quality casino slots, table games and non-traditional games in Italy to nine (9) Italian operators who together represent more than forty-five per cent of Italy’s total Internet casino gaming market by Gross Gaming Revenue. Strong growth in the region resulted in revenues from Italy growing to £1.7m during H1 2018 (£1.2m H1 2017; £2.8m CY2017) accounting for just under 40% of GAN’s net revenues and this latest launch further strengthens GAN’s position as the country’s leading independent Internet gambling software and services provider.


Management Commentary

Dermot Smurfit, CEO of GAN commented:

"GAN continues to win major clients in Italy by delivering an increasing number of high quality Internet casino games to our Italian clients, carefully procured from independent casino game design studios worldwide as well as major land-based casino equipment manufacturers. GAN’s distribution reach now extends to nearly half of the regulated Italian Internet casino gaming market: We very much welcome the launch of Goldbet as our ninth operator client in Italy.”


FAQ’s about GAN’s Italian real money online Regulated Gaming

  • Internet gaming was effectively out-lawed in Italy until 2008 when legislation permitted Italy’s existing retail & online sports betting operators to launch skill-based games online including Poker and traditional Italian card games played person-to-person. GAN launched its first Italian client SNAI SpA online in September 2008. Legislation permitting casino Table games passed in 2011 and casino Slots in 2013.
  • GAN’s client base in Italy comprises major retail gambling operators with counterpart Internet gambling operations. The ban in Italy on the advertising of gambling commenced in June 2018 and has been widely reported as negatively impacting online-only Italian operators of Internet gambling while favouring retail gambling operators.
  • The Internet casino market in Italy averaged EUR 57.7m ($71.3m) in Gross Gaming based on the three (3) months of February 2018, January 2018 and December 2017 market share information reported by the Italian regulator AAMS. This was an increase of +31.3% Year on Year on the three (3) month average of EUR 44.0m ($49.4m) in February 2017, January 2017 and December 2016.
  • There are sixty-nine (69) active operators of licensed Internet casino gaming in Italy. GAN’s nine (9) clients, including Goldbet, represent in aggregate more than 45% of the Internet casino market in Italy based on the market share information reported by the Italian regulator AAMS.

 

Q2 & Q3 Key Performance Indicators

Trading at Record Levels in Q3, driven by Strong Growth in US Sports Betting

London & Dublin | November 19, 2018: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today announced the release of quarterly key performance indicators for the second and third quarters of 2018, highlighting continued strong momentum with the Company trading at record levels in Q3 2018.

Today's update allows the US and global institutional investment community to properly track progress of GAN's diverse business on a quarterly basis.

Key Performance Indicators for Q4 2018 will be released in January 2019.

Existing KPIs

Q1 2017

Q2 2017

Q3 2017

Q4 2017

Q1 2018

Q2 2018

Q3 2018

Active Player-Days

2,227,905

2,600,842

2,996,914

3,066,920

3,194,907

3,133,054

3,402,065

% Change

+9.4%

+16.7%

+15.2%

+2.3%

+4.2%

-1.9%

+8.6%

ARPDAU

$7.69

$6.98

$6.36

$6.68

$7.55

$7.66

$7.85

% Change

+3.6%

-9.2%

-8.9%

+5.1%

+12.9%

+2.8%

+2.5%

An additional Key Performance Indicator 'Gross Operator Revenue' set out below comprises the sum of gross revenue from Simulated Gaming; gross gaming revenue from real money regulated Gaming; and gross sports win from real money regulated Sports betting.

New KPI

Q1 2017

Q2 2017

Q3 2017

Q4 2017

Q1 2018

Q2 2018

Q3 2018

Gross Operator Revenue

$17.1M

$18.2M

$19.1M

$20.5M

$23.8M

$24.0M

$26.7M

% Change QoQ

+13.3%

+6.0%

+4.9%

+7.6%

+16.2%

+0.8%

+11.3%

% Change YoY

+16.8%

+33.1%

+58.0+

+35.6%

+39.0%

+32.2%

+40.1%

Second Quarter 2018 & Third Quarter 2018 Highlights

·     +11.3% Quarter-on-Quarter increase in Gross Operator Revenue in Q3 2018 over Q2 2018 to $26.7M reflecting strong growth in real money regulated gambling in both Italy and New Jersey

·     +8.6% Quarter-on-Quarter growth in Active Player-Days in Q3 2018 over Q2 2018 to 3,402,065 Active Player-Days

·    Significant growth experienced in New Jersey during Q3 2018 driven by the launch of GAN's second New Jersey client Ocean Resort Casino and the commencement of regulated Internet Sports betting

·    July 10, 2018 the Company launched Ocean Resort Casino's real money Internet gaming website (www.OceanOnlineCasino.com) together with a counterpart Simulated Gaming website (www.OceanSocialCasino.com)

·    September 1, 2018 the Company launched regulated Internet sports betting for client PaddyPower Betfair plc's enlarged US business 'FanDuel Group' (http://sportsbook.FanDuel.com)

·     September 12, 2018 the Company launched digital user acquisition & retention marketing in support of the Overseas Internet Casino (www.WinStar.com) provided by GAN's Digital Marketing Agency in Tel Aviv, Israel

Management Commentary

Dermot Smurfit, CEO of GAN commented:

"GAN traded at record levels during these past two quarters with significant growth in Q3 driven by the launch of our second New Jersey client of regulated gaming accelerated by the first month of US Internet sports betting in September. The new Key Performance Indicator 'Gross Operator Revenue' identifies the GAN-enabled revenues delivered to our clients operating their Simulated Gaming and/or Regulated Gambling business on our technology Platform, in which GAN participates."

GAN continues its institutional outreach to the United States, where the Company conducts the predominant portion of its business activities. The expanded financial information flow supports the increasing number of suitably-qualified US institutional investors who engaged with GAN's equity story in late 2016, 2017 and in 2018. This Quarterly publication discloses the Active Player-Days, Average Revenue Per Active Player-Day (ARPDAU) and Gross Operator Revenue, in which GAN participates worldwide in regulated real money Internet gambling markets and Simulated Gaming™.

GAN extends Simulated Gaming & Patent Licensing agreement with JACK Entertainment LLC

Leading Michigan & Ohio casino company extends existing contract for Simulated Gaming

London & Dublin | October 24, 2018: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gambling software and services in the United States and Europe, today announces the extension of a pre-existing agreement with JACK Entertainment LLC, a major US operator of Simulated Gaming available at www.playJACK.com.

JACK and its affiliates' portfolio of properties include over 13,000 gaming positions, more than 400,000 square feet of gaming space, 400 hotel rooms, and 48 bars and restaurants. JACK is comprised of approximately 7,000 team members across four states.

Highlights

·     Delivering GAN's US-patented iBridge Framework™ links the GameSTACK™ Internet gaming system to JACK Entertainment's existing casino management system deployed in Ohio and Michigan.

·     The Simulated Gaming™ offering is operated from an instance of the GameSTACK™ Internet gaming system deployed in Las Vegas Nevada.

·     Simulated Gaming™ is an innovative internet gaming service designed by GAN specifically for land-based US casinos, offering a gaming-as-entertainment consumer website and mobile apps that include over 200 casino slot and table games, including poker, backgammon, gin rummy, poker dice and blackjack tournaments.

Management Commentary

Adam Suliman, Vice President of Online Gaming, commented:

"JACK Entertainment is excited to renew and extend GAN's simulated gaming experience for our casino guests. GAN has proved to be a great partner, offering our guests a fun and interactive way to engage with our properties."

Dermot Smurfit, CEO of GAN commented:

"As expected, and in line with our other casino operator clients' reported experience, JACK has experienced increased patron loyalty through increased visitation on-property and increased on-property gaming revenues, as a consequence of engaging with their patrons online as well as on-property. Simulated Gaming supports on-property casino visitation among patrons in competitive regional markets and enables the operator to develop an income stream as well as an online database in advance of any expected regulation of Internet gambling."

FAQ's about GAN's Internet Gambling 'Platform' powering Simulated Gaming

·     Simulated Gaming is operated on the exact same Platform as regulated Internet gambling delivered for operator clients in New Jersey and Europe. For investors and Industry analysts: The core of a "Platform" from both a technical and regulatory standpoint is the Player Account Management System i.e. where highly sensitive customer and player activity data is stored and processed. Other elements of Platform can include a sportsbook transaction engine, gaming content integrations, payment services, marketing services, trading services and other ancillary activities. However, the core functionality to describe B2B systems and services as a 'Platform' is the Player Account Management System. This is also the layer of B2B activity which tends to require regulatory approval as a 'Platform' since it is the focal point of data and player security. Therefore, without the Player Account Management System, a service provider might be offering very valuable B2B functionality but not in the strictest sense a 'Platform' (source: Regulus Partners, an international gambling advisory group). 

·     Launched in the US by GAN in January of 2014, Simulated Gaming™ has proven to monetize Internet traffic to existing websites operated by land-based US casinos at levels greatly exceeding equivalent numbers generally reported by Social Casino operators.

·     US casino operators report +50% of their surveyed casino patrons are already engaged in playing Social Casinos on Facebook and Simulated Gaming™ is proven to increase property visitation among existing patrons, reactivate lapsed patrons bringing them back on-property and drive acquisition of new patrons from outside the typical drive distance to the property.

Trading Statement & Notice of Results

London & Dublin | September 18, 2018: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gambling software and services in the United States and Europe, today provides an update on trading for the half-year ended June 30, 2018.

GAN performed in line with market expectations during the first half of 2018.

The outlook for the second half year period and full calendar year 2018 is contingent on (a) the market size, share and growth rate of Internet sports gambling in New Jersey; (b) the timing with which Pennsylvania's regulator the Pennsylvania Gaming Control Board ("PGCB") permits the launch of Internet real money gambling for residents of the State of Pennsylvania; and (c) the speed with which efficient marketing of the Overseas Internet Casino is conducted in European regulated markets by GAN.

By way of outlook on 2019, the recent launch of Internet sports betting, the Company's current sales pipeline and existing contracted clients are projected to propel GAN to record revenues, revenue growth, and EBITDA.

GAN is due to release its half year result for the period ended 30 June 2018 on September 28, 2018.

PASPA / Regulatory Developments

With respect to online sports betting in the US, GAN welcomed the repeal of the Professional and Amateur Sports Protection Act 1992 ("PASPA") by the US Supreme Court on May 14, 2018. GAN has subsequently integrated a leading B2B sports betting system into GAN's Platform and delivered Internet sports betting in New Jersey to its client PaddyPower Betfair plc ("PPB"), branded 'FanDuel', on September 1, 2018.

The reported success of the Internet sports betting market in the first operating month of August 2018 may result in an increase in the speed of regulation of intra-State Internet gambling going forwards. It is believed that additional US States are now considering the regulation of Internet gambling.

New Jersey Internet Gambling

Internet sports betting's growth since launch on September 1, 2018 has exceeded initial expectations in the first 17 day operating period. Continued growth is contingent on the speed with which our client PPB phases in marketing investment and the competitive dynamics within this emerging market.

GAN's second client in New Jersey, Ocean Resort Casino ("ORC") opened the land-based casino in Atlantic City on June 28, 2018 and the Internet casino delivered to ORC by GAN commenced operations of its desktop-only website on July 10, 2018. The secondary launch of mobile apps to enable end users to engage with ORC's Internet casino via their personal mobile devices has been delayed by the New Jersey Division of Gaming Enforcement ("DGE") technical certification division due to the demand for certification of new Internet sports betting systems.

Mobile apps are required to be downloaded by end users in order for their physical location to be accurately determined in compliance with New Jersey Internet gambling regulations. Mobile casino gaming represents the substantial majority of Internet casino gaming revenues in New Jersey. The mobile apps were approved by the DGE on September 4, 2018.

Pennsylvania Internet Gambling

Pennsylvania's real money Internet gambling market is now expected to commence in early 2019. This delay, due to a slower-than-expected issuance of regulations by the PGCB, impacts GAN's ability to recognise revenues derived from professional services fees already generated by GAN year-to-date and similar incremental professional service fees expected to be generated in H2 2018 as preparations to launch our client Parx Casino's Internet gambling operations continue.

Such fee-based revenues from the professional services rendered by GAN to its clients are recognised following the client's commercial launch of Internet gambling. Accordingly, revenue from professional services delivered to Parx Casino in 2018 will now be recognized in H1 2019.

This regulatory delay will also negatively impact GAN's H2 2018 Net Revenue from the revenue-sharing aspect of GAN's commercial relationship with Parx Casino, the market-leading casino property in Pennsylvania.

GAN has been a registered gaming services provider in Pennsylvania since 2014 and successfully submitted its Pennsylvanian Internet gambling software vendor license application to the PGCB on September 17, 2018.

Italian Internet Gaming

GAN notes the recent legislative ban on advertising of gambling in Italy which comes into effect in January 2019. GAN's clients in Italy are predominantly land-based operators of retail betting shops as well as Internet gambling. Following consultation with selected Italian clients and specialised gaming research firm Eilers & Krejcik Gaming LLC1, Italian Internet gambling operators supported by significant retail operations are not expected to be materially impacted by the ban on advertising and may benefit from reduced competition from Internet-only operators.

As previously announced2, the Company will launch its 9th Italian client GOLDBET in Q4 2018 which operates more than 1,000 land-based betting shops in Italy.

Overseas Internet Casino

Operational marketing of the Overseas Internet Casino in Europe commenced on September 12 2018. This followed an extended period in Q3 restructuring certain operational and financial arrangements to ensure an efficient deployment of the previously-reported $10m in user acquisition marketing provided to GAN by our client, the Chickasaw Nation, to develop their Internet gambling business in European regulated markets.

Simulated Gaming™

The acquisition of new US casinos as clients for GAN's US-facing Simulated Gaming business has been impacted by the increased allocation of internal technical engineering resources towards real money Internet gambling in H1 2018, which will continue to delay incremental client acquisition until the previously announced expansion of the Company's software engineering team in Sofia, Bulgaria has completed in H1 2019.

GAN's client of Simulated Gaming, the Mississippi Band of Choctaw Indians, was announced on April 30, 20183 and is now anticipated to launch Simulated Gaming in Q4 2018.

As on June 30, 2018 GAN operated Simulated Gaming for 13 major US casinos coast-to-coast together representing in excess of $8bn in annual land-based gaming revenues as well as for a consortium of land-based gaming venues in Queensland, Australia identified as 'Club8Casino'.

Notice of Results

The Company will release its results for the half year period ended June 30, 2018 on September 28, 2018.

FAQ's about GAN's Internet Gambling 'Platform' & US Patent

· For investors and Industry analysts: The core of a "Platform" from both a technical and regulatory standpoint is the Player Account Management System i.e. where highly sensitive customer and player activity data is stored and processed. Other elements of Platform can include a sportsbook transaction engine, gaming content integrations, payment services, marketing services, trading services and other ancillary activities. However, the core functionality to describe B2B systems and services as a 'Platform' is the Player Account Management System. This is also the layer of B2B activity which tends to require regulatory approval as a 'Platform' since it is the focal point of data and player security. Therefore, without the Player Account Management System, a service provider might be offering very valuable B2B functionality but not in the strictest sense a 'Platform' (source: Regulus Partners, an international gambling advisory group).

· All US casinos operate an on-property rewards program (also called 'loyalty programs') where visitors to the land-based casino can enrol in a loyalty program, collect a rewards card and accumulate reward points from real money gambling on-property. Typically, US casinos have more than half of their active on-property patrons enrolled in these reward programs.

· GAN's US-patented technology principally permits US casino operators' carded patrons to link their reward card to their online gambling account in order to identify themselves as a patron of the land-based casino and a member of their retail rewards program.

· The Patent was awarded to GAN plc in September 2014 by the US Patent & Trademark Office ("USPTO") with the Patent reissued under the same Patent number by the USPTO on March 17, 2017 following an unsuccessful ex parte challenge brought by an anonymous US Industry actor.

Notes:

1 "The Italian gambling advertising ban is unlikely to impact operators equally with online only firms expected to be more significantly impacted by the blanket ban on all gambling advertising in the country. As can be seen from the market share in CY17 five of the seven largest operators in the iGaming market have a substantial land-based presence and will look to use that brand recognition along with cross- sell from land-based to online to continue to grow their share post-ban." Eilers & Krejcik Gaming LLC, September 4, 2018

2 https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/GAN/13606639.html

3 https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/GAN/13622744.html

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014

GAN Announces Appointment of Leading Intellectual Property Litigation Firm to Drive Licensing & Enforcement of US Patent

London & Dublin | September 14, 2018: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gambling software and services in the United States, today announces the Company has awarded a mandate to specialist intellectual property litigation firm Irwin IP LLP ("Irwin IP") in Chicago, IL to implement a US patent licensing and enforcement program principally targeting operators in the regulated intra-State Internet gambling markets of New Jersey, Nevada, Delaware and Pennsylvania which are currently infringing upon the Company's US-patented intellectual property rights.

The commencement of GAN's Patent licensing program was announced on May 30, 2017 following an unsuccessful 'ex parte' (anonymous) legal challenge to GAN's US patent number 8,821,296, reinforcing the value of GAN's US-patented technology for linking land-based casino reward cards to online gambling accounts.

Following the completion of the £7.5M Equity Placing in June 2018 and the appointment of Irwin IP LLP, the Company will now proceed to assert its rights over US-patented intellectual property and seek commercial settlements for prior and continuing infringements by regulated Internet gambling operators and/or relevant technology vendors, who have been substantially and progressively placed on notice of the Company's US intellectual property rights.

A further update will be provided at GAN's H1 2018 interim results on September 28, 2018.

Highlights

· GAN's US Patent was awarded in September 2014 and this US-patented technology has been licensed by GAN to many of the largest US casino operators including Station Casinos, Chickasaw Nation, MGM Resorts, Ocean Resort Casino and Parx Casino for both Simulated Gaming (social casino gaming) and regulated real money Internet gambling in both New Jersey and Pennsylvania

· Irwin IP is an experienced intellectual property litigation firm in Chicago, Illinois with a substantial track record in the US casino gaming Industry securing injunctions and/or commercial licensing agreements with major US casino equipment manufacturers and/or US casino operators

· Irwin IP's accomplishments include representing a mid-sized software company in a three-week jury trial culminating in a $16 million jury verdict; helping a small, disruptive start-up defeat patent infringement and false advertising claims asserted by a large, multi-national company; and securing a permanent injunction and $7.3 million jury award in an offensive gaming patent infringement matter protecting a $100-million-dollar-a-year product line

Patent licensing and/or settlement awards represent a potentially high-margin incremental income stream for GAN.

 

FAQ's about Internet Gambling 'Platform' & US Patent

· For investors and Industry analysts: The core of a "Platform" from both a technical and regulatory standpoint is the Player Account Management System i.e. where highly sensitive customer and player activity data is stored and processed. Other elements of Platform can include a sportsbook transaction engine, gaming content integrations, payment services, marketing services, trading services and other ancillary activities. However, the core functionality to describe B2B systems and services as a 'Platform' is the Player Account Management System. This is also the layer of B2B activity which tends to require regulatory approval as a 'Platform' since it is the focal point of data and player security. Therefore, without the Player Account Management System, a service provider might be offering very valuable B2B functionality but not in the strictest sense a 'Platform' (source: Regulus Partners, an international gambling advisory group).

· All US casinos operate an on-property rewards program (also called 'loyalty programs') where visitors to the land-based casino can enrol in a loyalty program, collect a rewards card and accumulate reward points from real money gambling on-property. Typically, US casinos have more than half of their active on-property patrons enrolled in these reward programs.

· GAN's US-patented technology principally permits US casino operators' carded patrons to link their reward card to their online gambling account in order to identify themselves as a patron of the land-based casino and a member of their retail rewards program.

· The Patent was awarded to GAN plc in September 2014 by the US Patent & Trademark Office ("USPTO") with the Patent reissued under the same Patent number by the USPTO on March 17, 2017 following an unsuccessful ex parte challenge brought by an anonymous US Industry actor.

Notes:

1  https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/GAN/13241403.html

GAN to deliver Sports betting for Parx Casino via its award-winning Platform

Multiyear partnership extension includes delivery of Sports betting in both Retail and Online channels for Pennsylvania's largest casino, a material increase in revenue opportunity

 

London & Dublin | July 30, 2018: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today announces that GAN and Greenwood Gaming & Entertainment, Inc. trading as 'Parx Casino' ("Parx Casino") have executed a material contract to offer Sports betting in both the retail and online channels in the Commonwealth of Pennsylvania. Parx Casino's nominated third party sports betting application software provider will now be integrated by GAN with launch expected in H2 2018.

 

On July 16, 2018 GAN announced that Parx Casino had filed a petition with the Pennsylvania Gaming Control Board ("PGCB") confirming Parx Casino's intention to launch Internet gaming online in the State of Pennsylvania and identifying GAN as their enterprise software Platform provider.

 

Highlights

 

·   GAN will participate in the incremental Sports betting revenues generated both in the Retail channel (i.e. on-property within the casino) and in the Online channel.

 

·      Multi-year contract extension secured, proving the strategic merit of developing Simulated Gaming with US casino operators in advance of real money intra-State regulation

 

·      Pennsylvanian regulated Retail Sports betting is forecast to generate in excess of $100m1 in gross win in the first 12months and Internet Sports betting is forecast to generate a further $189m2 in the same period, in addition to the Pennsylvanian regulated Internet Gaming market forecast to generate $200m3 in gross gaming revenue online during the first twelve months of operation.

 

·      Parx owns and operates the #1 land-based casino property in Pennsylvania located a short distance from Philadelphia, Pennsylvania's largest City. In the most recent fiscal year ended June 30, 2018 Parx Casino generated $570m from slot machines and table games on-property representing a 18% share of the Pennsylvania's $3.2bn gaming market.

 

·   GAN's US-patented technology will enable Parx Casino patrons enrolled in the on-property loyalty program, to sign up online and instantly link their reward cards to their online account permitting those guests to trade in their reward points earned from on-property gaming for cash online and/or to earn rewards points from Internet gaming and/or sports betting, to be subsequently redeemed on-property.

 

Management Commentary

 

Jeff Berman, Chief Commercial Officer of GAN commented:

"Following the execution of this extension and amendment, GAN now offers clients a Platform equipped with multiple options for integrated Sports betting to be launched seamlessly alongside GAN's market-leading Internet casino product. We welcome the opportunity to deliver Sports betting in the retail channel, as well as online, through GAN's unique Platform containing patented technology."

 

John Dixon, CTO of Greenwood Gaming & Entertainment, Inc commented:

 

"GAN has ably demonstrated it abilities with both its overall Platform and its integration capability for existing major clients. By leveraging GAN's Platform, Parx Casino will have the opportunity to launch retail and online Regulated Sports betting together with online Gaming in Pennsylvania later this year, subject to the regulatory approval of the PGCB."

FanDuel Group to leverage GAN's enterprise software for Regulated Gambling in New Jersey

IGT Sports betting platform now integrated by GAN: Single-wallet solution for FanDuel-branded Internet sports betting & casino gaming

 

London & Dublin | July 18, 2018: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today announces the Company is preparing to launch Internet sports betting in New Jersey for FanDuel.

 

Highlights

 

·     FanDuel Group is a subsidiary of Paddy Power Betfair PLC, a leading international sports betting and gaming operator. The agreement with GAN allows FanDuel Group to integrate its sports betting solution to the GAN Platform which is already certified for iGaming in the state of New Jersey.

 

·    GAN is working to complete the integration into the GAN Platform of FanDuel's nominated Internet sports betting software which is a combination of IGT's sports platform and Paddy Power Betfair's leading pricing, trading and risk management technology, along with a user interface designed for the US customer by the FanDuel team.

 

·     FanDuel expects to launch a FanDuel-branded website and accompanying mobile app offering Internet sports betting that leverages GAN's enterprise software later this year. Sports betting will be delivered as an integrated extension into GAN's enterprise software platform and GAN will participate in the incremental sports betting revenues.

 

Management Commentary

 

Dermot Smurfit, CEO of GAN commented:

 

"Online sports betting 'go-live' preparations for FanDuel are well advanced and we remain confident in launching integrated sports betting alongside our existing Internet casino later this year."

 

Matt King, CEO of FanDuel commented:

 

"The integration by GAN of our sports betting system is a reflection of GAN's flexible technology platform, 'can-do' attitude and their overall commitment."

GAN to launch Parx Casino Internet Gaming in Pennsylvania

Pennsylvania's market leading casino files $10m application in preparation for iGaming launch utilizing GAN's US-patented technology

London & Dublin | July 16, 2018: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today confirms Greenwood Gaming & Entertainment, Inc. trading as 'Parx Casino' ("Parx Casino") has filed a petition with the Pennsylvania Gaming Control Board ("PGCB") confirming Parx Casino's intention to launch Internet gaming online in the State of Pennsylvania and identifying GAN as their enterprise software platform provider.

Parx Casino launched GAN's Simulated Gaming in March 2015, which will remain operational and available online at ParxOnline.com following the launch of real money regulated Internet gaming.


Highlights

· Parx owns and operates the #1 land-based casino property in Pennsylvania located a short distance from Philadelphia, Pennsylvania's largest City. In the most recent fiscal year ended June 30, 2018 Parx Casino generated $570m from slot machines and table games on-property representing a 18% share of the Pennsylvania's $3.2bn gaming market.

· The Pennsylvanian regulated Internet gaming market is forecast to generate $200m in gross gaming revenue online during the first twelve months of operation (source: Eilers & Krejcik Gaming LLC1).

· GAN's US-patented technology will enable Parx Casino patrons enrolled in the on-property loyalty program, to sign up online and instantly link their reward cards to their online account permitting those guests to trade in their reward points earned from on-property gaming for cash online and/or to earn rewards points from Internet gaming, to be subsequently redeemed on-property.

 

Management Commentary

Dermot Smurfit, CEO of GAN commented:

"Parx Casino and GAN have collaborated well for three years, developing a close working relationship by operating Simulated Gaming online. Launching regulated real money Internet gaming in Pennsylvania is a logical extension of our existing long-term relationship and we welcome the opportunity to deliver excellence in technology and product, as we have for our clients in New Jersey."

John Dixon, CTO of Greenwood Entertainment & Racing, Inc commented:

"GAN has demonstrated its Regulated Gaming capability in New Jersey and the merits of integrating with a casino management system. Parx Casino will have the opportunity to launch Regulated Gaming in Pennsylvania later this year, subject to the regulatory approval of the PGCB."

Notes

1 Eilers & Krejcik Gaming, LLC | 'Pennsylvania Gambling Expansion - Overview and Analysis' November 8, 2017

FAQ's about Pennsylvania, Internet Gaming, GAN's Patent & relevant legislation

· Pennsylvania's population of 12.8m is +42% larger than New Jersey's population of 8.9m.

· There are currently twelve (12) land-based casino properties in Pennsylvania which together generated $3.2bn in land-based gross gaming revenue in fiscal year 2017/18 ending June 30, 2018.

· Internet casino gaming in the neighbouring State of New Jersey is a fast-growing market which generated $221m in Gross Gaming Revenue in CY2017 (+30% Year on Year) and is anticipated to grow +20% Year on Year to ~$266m in CY2018E.

· Patent 8,821,296 was issued to GAN plc in September 2014 and governs the automated authentication, card linkage and intra-system messaging between the on-property Casino Management System and GAN's Internet gaming system. Already proven for Simulated Gaming, the launch of the real money Internet casino gaming for Parx Casino is anticipated to generate new on-property visitation by Internet-first players as well as increase visitation rates among patrons who first engage on-property with Parx Casino then subsequently play online from home, accumulating reward points from online play.

· GAN has licensed its US Patent fourteen (14) times to major US casino operators and Parx Casino is the third land-based casino operator to license the Patent for real money Online Gaming following the licensing & services agreements between GAN and Greenwood Gaming & Entertainment, Inc. announced November 2014; MDDC (The Borgata) announced December 2016; and Ocean Resort Casino announced July 2018.

· The Federal ban on sports betting enshrined within Professional and Amateur Sports Protection Act 1992 ("PASPA") was repealed by the Supreme Court of the United States on May 14, 2018 permitting individual US States to pass their own sports betting laws.

· Pennsylvania passed legislation bill HB 271 on October 26, 2017 (signed into law on October 30, 2017) enabling land-based casinos in the State of Pennsylvania to launch real money Internet gaming and (subject to the repeal of PASPA) Internet sports betting.

GAN launches Ocean Online Casino in New Jersey

First New Jersey casino to deliver a converged online & on-property real money gaming experience to guests utilizing GAN's US-patented technology


London & Dublin | July 11 2018: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today announces the Company has simultaneously launched both real money Online Gaming and Simulated Gaming for Ocean Resort Casino in New Jersey supported by GAN's Turnkey Managed Services comprising technical operations management, software development, customer services & payments management together with associated regulatory consultancy.

GAN's Patent, now licensed to Ocean Resort Casino, will enable the client's guests enrolled in Ocean Premier, Ocean Resort Casino's loyalty program, to sign up online and instantly link their rewards card to their online account permitting those guests to trade in their reward points earned from on-property gaming for cash online and/or to earn rewards points from Internet gaming, to be subsequently redeemed on-property.

The Internet casino is now available on www.OceanOnlineCasino.com offering residents of, and visitors to, New Jersey a market-leading mobile-first Internet casino website/app design with Internet sports betting expected to be launched as an integrated extension in Fall of 2018 subject to customary commercial and regulatory approvals.

Highlights

· GAN's second client in New Jersey for real money Online Gaming and GAN's first 'bricks & mortar' casino operating real money Internet gaming on GAN's platform in New Jersey (existing GAN client PaddyPower Betfair plc does not own/operate a casino in New Jersey)

· First client to adopt Turnkey Managed Services provided by GAN from an experienced team in New Jersey including technical operations management, customer services, payments management and associated regulatory consultancy

· Second New Jersey casino operator to license GAN's US Patent for delivering converged online-to-retail real money Internet gaming

· First US client to launch 'dual-mode' real money Online Gaming for New Jersey resident patrons alongside 'freemium' Simulated Gaming for patrons' residents both inside and outside of New Jersey (~50% of Atlantic City casinos' patrons live outside the borders of New Jersey)

· Launch of 'Ocean Resort Casino' branded Internet sports betting expected in Q4 2018 following the repeal of PASPA on May 14, 2018

This is the fourteenth time GAN has licensed its US Patent to a major US casino and the second New Jersey land-based casino operator to license the Patent for both real money Online Gaming and virtual Simulated Gaming following the licensing & services agreement between GAN and MDDC (The Borgata) announced December 2016.

Company's second client of real money Internet gaming in New Jersey following PaddyPower Betfair plc launch in November 2013 also reliant on GAN's enterprise software platform and supporting services.

Management Commentary

Dermot Smurfit, CEO of GAN commented:

"Ocean Resort Casino is a fabulous casino property, unarguably offering the best quality gaming & hotel in Atlantic City, which has now been optimized for success by the new ownership and leadership. We're privileged to bring this immense property to life online, just as it relaunches in the traditional retail casino market. We're excited to deliver not just another 'me too' Internet casino, but to also bring online for the first time the capabilities unlocked only by GAN's convergence Patent which may give casino patrons in New Jersey a compelling economic rationale to play online with Ocean Resort Casino rather than established incumbent casino operators already online in this fast-growing market. Ocean Resort Casino is anticipated to be material to GAN's revenue and earnings in H2 2018."

Frank Leone, CEO of Ocean Resort Casino commented:

"GAN delivered efficiently and cost-effectively for Ocean Resort Casino and possesses a strategic patent which will give Ocean Resort Casino a competitive advantage with casino guests in Atlantic City who also choose to gamble online. Furthermore, GAN's proven platform, 'dual-mode' Simulated Gaming as well as real money Internet gaming and track record of client success in the New Jersey market are among the many reasons we chose GAN to bring Ocean Resort Casino online in 2018."

GAN extends content development and distribution agreement with Everi Holdings

Multi-year deal to develop & distribute 10 Everi slot titles on-board GAN market leading enterprise software platform


London & Dublin | June 27, 2018: GAN plc ("GAN" or the "Company") an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today announces that casino technology solutions supplier, Everi Holdings Inc. (NYSE: EVRI), has entered into a multi-year extension with GAN for the development and distribution of ten (10) online slot games based on original Everi game themes. The games will be deployed locally on the GAN Platform for distribution by GAN to its diverse operator clients of Simulated Gaming coast-to-coast in the US and real money Internet gaming in New Jersey and Pennsylvania and in Europe.



Three (3) of Everi's most popular slot themes, Total Meltdown®, Carnival in Rio®, and Starry Night®, will receive upgrades from previously released online games to HTML5 client applications to be developed by GAN in H2 2018. An additional seven (7) Everi titles will be developed by GAN in HTML5 including marquee slot themes Zoltar™, Peking Fantasy®, Red Carpet®, Mystical Tarot®, Dragons Wild®, Ragtime Riches®, and Wild A Go-Go®.



Development fees received by GAN under the operation of this Agreement will generate a positive contribution to GAN revenues in H2 2018 and H1 2019.



Management Commentary



Dermot Smurfit, CEO of GAN commented:



"We've been working closely with Everi since 2013 and are delighted to extend and enhance our working partnership, to the direct benefit of all GAN's operator clients of both Simulated Gaming and real money Internet gaming in regulated markets. We're proud to continue serving as a trusted custodian of Everi's valuable intellectual property to be distributed online by GAN for real money Internet gaming into New Jersey, Pennsylvania, Italy, and other European markets as well as for Simulated Gaming coast-to-coast across the US."



David Lucchese, Executive Vice President of Digital and Interactive at Everi commented:



"Extending our agreement with GAN is a reflection of their commitment to developing quality online high-value slot machine content on their mature technology platform. GAN's extensive distribution network enables us to deliver our content rapidly into complex real money Internet gaming markets and for Simulated Gaming which has been adopted by an increasing number of major US casino operators who are all valued clients of Everi."

Result of General Meeting

London & Dublin | June 7, 2018: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, advises that all resolutions notified to shareholders on May 22, 2018 and proposed at the General Meeting of the Company held today, June 7, 2018, were duly passed and, accordingly, shareholders have approved the subscription by new investors for 15,000,000 new shares in the capital of the Company. The subscription has raised gross proceeds of £7.5m for the Company.

The Company plans to use the net proceeds of the Subscription to substantially increase GAN's software engineering and operational resources to better serve existing major US clients' services such as the WinStar.com 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.

Proceeds from the Subscription will also be used to repay in full the £2,001,483 9% Convertible Unsecured Loan Notes 2022 issued by GAN in April 2017, in order to strengthen the Company's balance sheet, it thereby being debt-free and capitalized to levels the Directors of GAN believe are reasonably required to serve major multi-property and multi-State casino groups in the US.

Application has been made to the London Stock Exchange and Euronext Dublin for the Subscription Shares to be admitted to trading on AIM and the ESM, respectively. Admission of the Subscription Shares will become effective and dealings will commence in the Subscription Shares at 8.00 a.m. on June 8, 2018. The enlarged issued share capital of the Company on Admission is 85,051,924.

Management Commentary

Dermot Smurfit, CEO of GAN commented:

"This strategic capital raising exercise, completed today, positions GAN to consolidate its US market position and capture substantial incremental revenue opportunities available resulting from both Internet gaming and sports betting regulation in New Jersey, Pennsylvania and other US States expected to regulate Internet gambling in the near future."

This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation.

Capitalised terms used, but not defined in this announcement, have the same meanings as set out in the Circular.

Update on Legalization of US Internet Sports Betting

Re-confirms H2 launch of Internet sports betting in the US

London & Dublin | June 6, 2018: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today provides an update following the decision of the Supreme Court of the United States ("SCOTUS") to overturn the previous Federal US prohibition on sports betting enshrined with the Professional and Amateur Sports Protection Act 1992 ("PASPA").

Recent press reports have speculated that certain New Jersey casinos may be prohibited from launching Internet sports betting due to their ownership of or other association with US sports teams ("Issue").

The Company re-confirms it is preparing to launch Internet sports betting in both New Jersey and Pennsylvania for its clients in H2 and further confirms the Company has investigated the reported Issue with its clients and does not currently expect any impact on GAN's plans to launch sports betting in H2.

Sports betting will be delivered as an integrated extension into GAN's enterprise software platform and GAN will participate in the material incremental sports betting revenues. These incremental revenues are expected to be material for GAN in H2.

Management Commentary

Dermot Smurfit, CEO of GAN commented:

"Online sports betting 'go-live' preparations are well advanced and we remain confident in launching as soon as reasonably possible in H2."

Result of Annual General Meeting

London & Dublin | June 4, 2018: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, advises that all the resolutions posted to shareholders on May 3, 2018 and recommended by the Board of Directors at the Annual General Meeting of the Company held on June 1, 2018 were duly passed including the approval of the Company's audited accounts, directors' and auditor's reports for the calendar year ending December 31, 2017; the re-election of each of the directors of GAN plc; and the re-appointment of BDO LLP as the Company's auditor together with approval for the directors to determine the auditor's remuneration.

Repayment of Convertible Unsecured Loan Notes

London & Dublin | May 24, 2018: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, has provided one month's notice that the Company has elected to repay and redeem in full the £2,001,483 9% Convertible Unsecured Loan Notes 2022 issued by GAN in April 2017. Such notice of repayment is subject to withdrawal by the Company should the Subscription as announced on May 21, 2018 not be approved by shareholders on June 7, 2018.

Following the full re-payment and redemption of the Convertible Unsecured Loan Notes the Company will be debt free effective from June 25, 2018.

GAN Proposed Equity Subscription of £7.5m to US investors

Substantial increase in capital to consolidate US market position

London & Dublin | May 21, 2018: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today announces that it has conditionally raised £7,500,000 (before expenses) through an over-subscribed Subscription of 15,000,000 new ordinary shares of £0.01 each per share ("Ordinary Shares") at an issue price of 50p per Ordinary Share ("Subscription Shares") by US institutional shareholders (the "Subscription"). The Subscription Shares will represent 17.6 per cent. (approximately) of the enlarged issued share capital of GAN.

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 WinStar.com 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. Proceeds from the Subscription will also be used to repay in full the £2,001,483 9% Convertible Unsecured Loan Notes 2022 issued by GAN in April 2017, in order to strengthen the Company's balance sheet, it thereby being debt-free and capitalized to levels the Directors of GAN believe are reasonably required to serve major multi-property and multi-State casino groups in the US. Increases in software engineering resources will also take place substantially in GAN's existing offices in Sofia, Bulgaria where GAN has operated an engineering facility since 2016.

The Subscription is conditional upon the receipt of approval by shareholders in General Meeting ("GM") and upon admission of the Subscription Shares to trading on AIM and the ESM. Notice convening the GM containing full details of the Subscription and all applicable time periods will be sent to Shareholders and announced as soon as is practicable following this announcement. The Subscription Shares will rank pari passu with the existing Ordinary Shares and, subject to the receipt of shareholder approval at the GM, application will be made to the London Stock Exchange and the Irish Stock Exchange, trading as Euronext Dublin, for the Subscription Shares to be admitted to trading on AIM and the ESM respectively. Upon completion of the Subscription, GAN's enlarged issued share capital will consist of 85,051,924 Ordinary Shares.

Management Commentary

Dermot Smurfit, CEO of GAN commented:

"This strategic capital raising exercise positions GAN to consolidate its US market position and capture substantial incremental revenue opportunities available resulting from both Internet gaming and sports betting regulation in New Jersey, Pennsylvania and other US States expected to regulate Internet gambling in the near future."

GAN Welcomes Legalization of US Internet Sports Betting

Confirms H2 launch of Internet sports betting in the US

London & Dublin | May 15, 2018: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today welcomes the decision of the Supreme Court of the United States ("SCOTUS") to overturn the previous Federal US prohibition on sports betting enshrined with the Professional and Amateur Sports Protection Act 1992 ("PASPA").

 

The Company confirms it is preparing to launch Internet sports betting in both New Jersey and Pennsylvania for its clients in H2.

Sports betting will be delivered as an integrated extension into GAN's enterprise software platform and GAN will participate in the material incremental sports betting revenues. These incremental revenues are expected to be material for GAN in H2.

 

Management Commentary

 

Dermot Smurfit, CEO of GAN commented:

"GAN has been preparing for sports betting since Q4 2017 at the request of multiple US Clients who asked GAN to review, procure and support the delivery of sports betting solutions both online and for deployment in the retail channel in the event PASPA was overturned. We welcome yesterday's repeal of PASPA and confirm that sports betting will be material to GAN's revenues going forwards, commencing in the second half of 2018."

Mississippi Band of Choctaw Indians selects GAN for Simulated Gaming

Three MBCI owned casinos to offer Simulated Gaming in H2 2018

London & Dublin | April 30, 2018: GAN plc ("GAN" or the "Company"), a leading B2B supplier of Internet gaming enterprise software-as-a-service solutions to the US land-based casino Industry, today announces the Mississippi Band of Choctaw Indians ("Client") as a new client of Simulated Gaming anticipated to launch in H2 2018.

The Mississippi Band of Choctaw Indians owns and operates Pearl River Resort whose portfolio of assets includes Silver Star Hotel & Casino, Golden Moon Hotel & Casino, Dancing Rabbit Golf Club, and Geyser Falls Water Theme Park located in Choctaw Mississippi.

The Mississippi Band of Choctaw Indians also operates the Resort's sister property, Bok Homa Casino located in Sandersville, Mississippi. Pearl River Resort is a major gaming destination for residents of Mississippi and Alabama offering 1,000+ hotel rooms together, with over 2,400 slot machines, 69 table games, 14 table elevated poker room, and bingo room which seats up to 306 players. Bok Homa Casino provides players with over 720 slot machines, 12 table games, and a bingo room which seats up to 236 players.

Highlights

· Major client win in a new regional US gaming market reinforces GAN's market position as the leading B2B enterprise software solution provider to 'bricks and mortar' US casino.

· Fourteenth US casino operator to license GAN's US Patent to permit patrons to link reward cards to their online Simulated Gaming account and receive reward points automatically triggered by the patrons' diverse online activities.

· Fifth major Native American casino operator in the United States to select GAN since the launch of Simulated Gaming.

· Optional real money Mobile On-property Gaming, at the Client's election, reinforcing the relevance of GAN's real money Internet gaming capabilities in support of Simulated Gaming.

Management Commentary

Dermot Smurfit, CEO of GAN commented:

"We are enormously privileged to bring one of America's largest and most vibrant Native American casino resort properties online with our Simulated Gaming solution. Pearl River Resort is the largest casino resort in the Mississippi gaming region and we anticipate their audience of patrons will engage heavily with Simulated Gaming."

William A. Johnson III, Interim President & CEO commented:

"We selected GAN for its proven success in helping casino properties to offer online gaming and for its capability to embed our on-property rewards program into an online experience. Equipped with GAN's Simulated Gaming, Pearl River Resort will now introduce our casino properties online to a wider audience of casino enthusiasts located in adjacent regional markets."

FAQs about GAN's Simulated Gaming™

· Launched in the US by GAN in 2014, Simulated Gaming™ has proven to monetize and retain casino patrons at levels substantially greater than those generally reported by social casino operators.

· Supported by 306 months of operating data, Simulated Gaming™ is now proven to drive increased visitation on-property among high-value casino patrons.

· US casino operators report more than 50% of their surveyed casino patrons are already engaged in playing multiple Social Casinos online. Simulated Gaming™ enables land-based US casinos to increase their 'share of wallet' among existing patrons as well as reactivate long-term lapsed patrons to return on-property.

GAN | Overview

GAN is a leading B2B supplier of Internet gaming enterprise software-as-a-service solutions to the US land-based casino Industry. GAN is listed on the ESM Market of the Irish Stock Exchange and the AIM Market of the London Stock Exchange under the ticker: GAN

The Company has developed an Internet gaming enterprise software system, GameSTACK™, which it licenses principally to land-based US casino operators as a turnkey technology solution for both regulated real-money and/or virtual Simulated Gaming. GAN has fourteen (14) casino operators as clients of Simulated Gaming coast-to-coast across the US and Internationally; two (2) clients of real money Regulated Gaming in New Jersey; one (1) client of real money Regulated Gaming in Pennsylvania and ten (10) clients of real money Regulated Gaming in Europe.

The Internet Gaming System, developed in London under a UK Gambling Commission license, is certified to the highest technical standards currently required by gaming regulators. In April 2017 GAN was granted a Casino Service Industry Enterprise license by the New Jersey Division of Gaming Enforcement being GAN's first privileged gaming license in the United States.

For more information please visit www.GAN.com

GAN Digital marketing agency & senior exec appointment

GAN opens Digital Marketing Agency in Tel Aviv, Israel 
 
Appoints senior executive Meir Deutsch, formerly of William Hill Online

 

London & Dublin | April 20, 2018: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, has opened 'GAN Digital', an in-house marketing agency to provide digital user acquisition & retention services to selected GAN clients worldwide. Operations at GAN Digital will be led by experienced senior digital marketing executive Mr. Meir Deutsch who joins GAN from William Hill Online and will serve as the Managing Director of GAN Digital.

Marketing services by GAN Digital are anticipated to commence in Q2 2018 focused on driving user acquisition and retention of real money Internet gaming customers in diverse regulated European markets.

Highlights

· Proven European digital marketing experience on-boarded within GAN's enterprise and offered as an incremental service to selected clients of real money Internet gaming.
· Widens the strategic scope of ancillary services available to GAN's operator clients worldwide.
· Formerly the Head of Marketing Planning, Operations & CRM at William Hill Online, Mr. Deutsch brings more than a decade of digital marketing experience to GAN, together with a deep understanding of Internet gaming marketing and associated investment strategies.

Management Commentary

Dermot Smurfit, CEO of GAN commented:

"Bringing proven real money Internet gaming marketing experience to GAN's current and future clients is an increasingly important strategic aspect of GAN's US market position as a provider of both our enterprise Platform for Internet gaming together with ancillary marketing services to support client success. We're delighted to announce the formal opening of GAN Digital in Tel Aviv, long-established as a hotbed of marketing innovation and Internet gaming expertise."

Meir Deutsch, Managing Director of GAN Digital commented:

"After more than six years building William Hill Online and investing substantial marketing capital for one of the UK's largest and best-known brands, GAN offers the exciting opportunity to bring online new challenger brands in Europe designed to leverage land-based casino properties in the US. Tel Aviv remains one of the world's pre-eminent centers of digital marketing technology and offers the intellectual capital required to build substantial Internet gaming businesses online for our clients."

GAN extends iGaming deal with Paddy Power Betfair in New Jersey

Multi-year Extension by Key Client of GAN's iGaming Platform Services

London & Dublin | April 18, 2018: GAN plc ("GAN" or the "Company") a leading B2B supplier of Internet gaming enterprise software-as-a-service solutions to the US land-based casino Industry, today announces that key client Paddy Power Betfair Plc has entered into a multi-year extension with GAN for the continued provision of Platform Services in New Jersey's fast-growing Internet gaming market.

Paddy Power Betfair Plc and GAN collaborated in 2013 to launch www.BetfairCasino.com reliant on GAN's Internet gaming system and associated services and has since established a significant and profitable Internet casino in New Jersey.

Management Commentary

Dermot Smurfit, CEO of GAN commented:

"We're privileged to renew and extend our agreement with Paddy Power Betfair in the United States, one of the largest Internet sports betting and gaming operators in the world today. Our respective teams have performed well over an extended period in order to establish BetfairCasino.com as the leading independent Internet casino in New Jersey. We look forward to continued shared success."

Kip Levin, CEO of Betfair US commented:

"BetfairCasino.com offers a unique iGaming product experience for customers in New Jersey. The extension of this agreement is a reflection of GAN's flexible technology system, 'can-do' attitude and their overall commitment".

FAQ's about US regulation & GAN's real money online Regulated Gaming

· Internet gaming was effectively out-lawed in the United States during October 2006 by the Unlawful Internet Gaming Enforcement Act by prohibiting financial institutions from processing Internet gaming payments.

· In 2013 three (3) US States passed laws to regulate Internet gaming within their borders: Nevada (pop. 2.8m), Delaware (1m) and New Jersey (8.9m) comprising a total of 12.6m people representing less than 4% of the US population (324m). In the State of New Jersey (pop. 9m) the Internet gaming market commenced in November 2013 and generated $197m in gross Internet gaming revenues in calendar year 2016 representing 8.2% of the $2.4bn in land-based gross gaming revenues generated by New Jersey's eight (8) casino properties operational in full or in part throughout 2016.

· Both New Jersey and Pennsylvania have passed legislation enabling existing Internet gaming operators to launch Internet sports betting in the event PASPA is overturned by SCOTUS.

· Pennsylvania has a population of 12.8m, which more than doubles the number of Americans, who will be legally permitted to wager real money on Internet casino games following the commencement of Regulated Gaming in the State of Pennsylvania, anticipated in the first half of 2018.

· Real money online Regulated Gaming for GAN comprises wholly-regulated and US-compliant Internet gaming where end user players resident in wholly-legal jurisdictions deposit & wager real money while playing casino games online.

· GAN received its first full US gaming licence in April 2017 awarded by the State of New Jersey.

GAN announces GOLDBET as its 9th client in Italy

Increasing Italian market share for GAN's real money Internet gaming content development and distribution business

 

London & Dublin | April 17, 2018: GAN plc ("GAN" or the "Company") a leading B2B supplier of Internet gaming enterprise software-as-a-service solutions to the US land-based casino Industry, today announces that it has signed a multi-year agreement with GOLDBET Srl ("Goldbet") a leading Italian Internet sports betting & casino gaming operator in Italy's regulated market.

 

GAN delivers more 500+ high-quality casino slots, table games and non-traditional games in Italy to eight Italian clients who together represent more than forty per cent of Italy's Internet casino gaming market by Gross Gaming Revenue. Goldbet has approximately three per cent market share of Internet casino gaming in Italy and is anticipated to be accretive to GAN's Net Revenues and EBITDA derived from Italy commencing in H2 2018.

 

Management Commentary

 

Dermot Smurfit, CEO of GAN commented:

 

"Italy remains a strategic stronghold for GAN and represents a substantial long term investment in a market which first regulated Internet skill-based games in 2009, Casino Table games in 2011 and Casino Slot Games in 2013. The Italian regulated Internet gaming market appears locked in a structural growth cycle which GAN continues to benefit from by delivering an increasing number of high quality Internet casino games to its clients. We very much welcome the addition of Goldbet as our ninth client in Italy."

Q4 2017 Key Performance Indicators

Continued Growth driven by real money Regulated Gaming

London & Dublin | January 26, 2018: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today announced the release of quarterly key performance indicators for the fourth quarter of 2017, highlighting continued strong momentum with the Company breaking through three million active player days for the first time with Average Revenue Per Active Player-Day (ARPDAU) returning to growth following decreases in the previous two quarters as a result of increased growth in real money Regulated Gaming relative to Simulated Gaming.

Today's update allows the US and global institutional investment community to properly track progress of GAN's diverse business on a quarterly basis.

Key Performance Indicators for Q1 2018 will be released in April 2018.

Quarterly KPIs Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017
Active Player-Days 1,700,908 2,037,233 2,227,905 2,600,842 2,996,914 3,066,920
% Change - -- +19.8% +9.4% +16.7% +15.2% +2.3%
ARPDAU $7.09 $7.42 $7.69 $6.98 $6.36 $6.68
% Change - -- +4.6% +3.6% -9.2% -8.9% +5.1%

 

Fourth Quarter 2017 Highlights

·     Sixth successive Quarter of growth in Active Player-Days.

·     +2.3% Quarter-on-Quarter growth in Active Player-Days in Q4 2017 over Q3 2017 to 3,066,920 Active Player-Days.

·     +5.1% Quarter-on-Quarter increase in Average Revenue Per Daily Active User in Q4 2017 over Q3 2017 to $6.68 reflecting strong growth in real money Regulated Gaming.

Management Commentary

Dermot Smurfit, CEO of GAN commented:

"Our sixth successive quarter of growth continues to demonstrate the sustained progress GAN has made in developing our market position in the US focusing on real money Regulated Gaming in New Jersey and Simulated Gaming for clients coast-to-coast across America supported by substantial organic growth in Italy, one of Europe's largest regulated markets for Internet gambling."

Over the past eighteen months, GAN has begun to increase its institutional outreach to the United States, where the Company conducts the predominant portion of its business activities. The expanded financial information flow supports the increasing number of suitably-qualified US institutional investors who engaged with GAN's equity story in late 2016 and 2017. This Quarterly publication discloses the Active Player-Days and Average Revenue Per Active Player-Day (ARPDAU), in which GAN participates worldwide in regulated real money Internet gaming markets and Simulated Gaming™.

Trading Statement & Notice of Results

London & Dublin | January 23, 2018: GAN plc ("GAN" or the "Company") a leading B2B supplier of Internet gaming enterprise software-as-a-service solutions to the US land-based casino Industry, provides an update on trading for the year ended December 31, 2017.

GAN performed in line with market expectations during the second half of 2017 in both its real money Regulated Gaming and Simulated Gaming activities due to the launch of several new clients, including the launch of the Overseas Internet Casino2. During the period, the Company benefited from strict cost management and generated positive clean EBITDA1 for the full year 2017. Furthermore, the outlook for 2018 remains positive due to continued growth in real money Regulated Gaming and Simulated Gaming.

Regulated Gaming

In Italy, growth in Net Revenue experienced during H1 has continued into H2 where the Company has benefitted from the seasonally strong Q4 period.

In New Jersey, GAN's business continues to enjoy favourable market conditions and performed strongly in 2017. In H2 2017, GAN signed a multi-year agreement with AC Ocean Walk LLC which will be GAN's second client for real money Regulated Gaming in New Jersey. AC Ocean Walk LLC is the newly-announced owner-operator of Ocean Resort Casino for the launch of a real money Regulated Gaming online experience offering Internet casino gaming together with Internet sports betting integrated with the on-property rewards program in reliance on GAN's Patent3. This new Internet gaming destination is currently expected to launch in H1 2018 and will contribute materially to GAN's revenue and earnings in H2 2018. Ocean Resort Casino in Atlantic City New Jersey is the substantial casino property formerly known as TEN/Revel Casino.

In Europe, the identity of GAN's client for the Overseas Internet Casino2 can now be confirmed as the major Native American US casino operator Chickasaw Nation. The Overseas Internet Casino launched for the Chickasaw Nation was delivered in H2 2017 and is now available in regulated European markets at www.WinStar.com.

In Pennsylvania, regulation of real money Internet gaming occurred on October 30, 2017. GAN has served Simulated Gaming to Pennsylvania's market-leading land-based US casino Parx Casino with GAN's GameSTACK™ enterprise gaming software platform installed on-property at Parx Casino since 2015 and is currently preparing to deliver real money Regulated Gaming upon commencement of the Pennsylvanian Internet gaming market anticipated later in 2018.

Simulated Gaming™

GAN's US-facing Simulated Gaming business continued to benefit from the launch of several new US casino operator clients in 2017 including Ocean Resort Casino (formerly TEN/Revel Casino), Chickasaw Nation's WinStar World Casino, MGM's The Borgata, Oneida Nation's TurningStone and Station Casinos.

As on December 31, 2017 GAN operated Simulated Gaming for 12 major US casinos coast-to-coast (December 31, 2016: 8) together representing in excess of $8bn in annual land-based gaming revenues as well as for a consortium of land-based gaming venues in Queensland, Australia identified as 'Club8Casino'.

Regulatory Progress

On October 30, 2017 the State of Pennsylvania regulated Internet gaming becoming the fourth US State to regulate Internet gaming and the first new State to regulate Internet gaming since 2013. Additional US States are now considering the regulation of Internet gaming including Illinois, New York and Michigan.

With respect to online sports betting in the US, GAN welcomes any potential repeal of the Professional and Amateur Sports Protection Act 1992 ("PASPA") by the US Supreme Court and has taken preparatory steps to deliver a managed sports betting solution to its US clients via GAN's GameSTACK™ enterprise gaming software platform in partnership with a leading European B2B sports betting system and services provider SBTECH (as announced previously by the Company on January 15, 2018).

Patent

The US Patent3 comprises multiple claims principally for linking on-property rewards accounts held within casino management systems to patrons' online accounts held within an Internet gaming system and delivering a converged online-to-onproperty experience for US casino patrons. This Patent has now been licensed more than a dozen times by GAN to major US casino operators for the conduct of both real money Regulated Gaming and Simulated Gaming in the United States.

The Patent was subjected to an ex parte re-examination process which successfully concluded in 2017 in favour of GAN with the issuance of a certificate by the United States Patent and Trademark Office ("USPTO") confirming the validity of GAN's claims within the Patent.

GAN has now placed a selected number of US casino operators on notice of GAN's Patent and associated intellectual property and anticipates concluding commercial licensing arrangements which shall contribute to GAN's revenue and earnings in 2018.

Notice of Results

The Company will release its results for the year ended December 31, 2017 on March 29, 2018.

Management Commentary

Dermot Smurfit, CEO of GAN commented on the 2017 period:

"The Company generated positive clean EBITDA1 in H1 2017 following a substantial multi-year period of investment focused on the US land-based casino Industry. This favourable EBITDA trend has continued throughout H2 and we have delivered on the market's expectations to generate positive EBITDA for the full calendar year 2017."

1Clean EBITDA is a non GAAP Company specific measure and excludes interest, tax, depreciation, amortisation, share based payment expenses and other items which the directors consider to be non-recurring and one time in nature.

2Overseas Internet Casino to be delivered by GAN to an anonymous US casino operator and existing client of Simulated Gaming was previously announced by GAN plc on September 12, 2016.

3Network Gaming System and Casino Management System Link, patent number 8,821,296 ("the Patent"), issued to GAN by the United States Patent and Trademark Office ("USPTO") on September 2, 2014.

FAQ's about US regulation & GAN's real money online Regulated Gaming

·     In the event PASPA is overturned by SCOTUS in H1 2018 the US market opportunity for retail, online and mobile sports betting deployed on-property and online is expected to exceed $6bn by 2023 (source: Eilers & Krejcik Gaming, LLC November 2017).

·     Internet gaming was effectively out-lawed in the United States during October 2006 by the Unlawful Internet Gaming Enforcement Act by prohibiting financial institutions from processing Internet gaming payments.

·     In 2013 three (3) US States passed laws to regulate Internet gaming within their borders: Nevada (pop. 2.8m), Delaware (1m) and New Jersey (8.9m) comprising a total of 12.6m people representing less than 4% of the US population (324m).  In the neighbouring State of New Jersey (pop. 9m) the Internet gaming market commenced in November 2013 and generated $197m in gross Internet gaming revenues in calendar year 2016 representing 8.2% of the $2.4bn in land-based gross gaming revenues generated by New Jersey's eight (8) casino properties operational in full or in part throughout 2016.

·     Both New Jersey and Pennsylvania have passed legislation enabling existing Internet gaming operators to launch Internet sports betting in the event PASPA is overturned by SCOTUS.

·     Pennsylvania has a population of 12.8m, which more than doubles the number of Americans, who will be legally permitted to wager real money on Internet casino games following the commencement of Regulated Gaming in the State of Pennsylvania, anticipated in the first half of 2018.

·     Real money online Regulated Gaming for GAN comprises wholly-regulated and US-compliant Internet gaming where end user players resident in wholly-legal jurisdictions deposit & wager real money while playing casino games online.

·     GAN received its first full US gaming licence in April 2017 awarded by the State of New Jersey.

GAN | Overview

GAN is a leading B2B supplier of Internet gaming enterprise software-as-a-service solutions to the US land-based casino Industry. GAN is listed on the ESM Market of the Irish Stock Exchange and the AIM Market of the London Stock Exchange under the ticker: GAN

The Company has developed an Internet gaming enterprise software system, GameSTACK™, which it licenses principally to land-based US casino operators as a turnkey technology solution for both regulated real-money and/or virtual Simulated Gaming. GAN has thirteen (13) casino operators as clients of Simulated Gaming coast-to-coast across the US and Internationally; two (2) clients of real money Regulated Gaming in New Jersey; one (1) client of real money Regulated Gaming in Pennsylvania and ten (10) clients of real money Regulated Gaming in Europe.

The Internet Gaming System, developed in London under a UK Gambling Commission license, is certified to the highest technical standards currently required by gaming regulators. In April 2017 GAN was granted a Casino Service Industry Enterprise license by the New Jersey Division of Gaming Enforcement being GAN's first privileged gaming license in the United States.

For more information please visit www.GAN.com

GAN announces SBTECH as a Strategic Partner for US Sports Betting

London & Dublin | January 15, 2018: GAN plc (“GAN” or the “Company”) a leading B2B supplier of Internet gaming enterprise software-as-a-service solutions to the US land-based casino Industry, today announces a strategic relationship with SBTECH to serve real money sports betting to GAN’s diverse US casino operator clients (“Clients”). Integrated with GAN’s GameSTACKTM enterprise software platform, SBTECH’s sports betting solution is anticipated to be delivered to selected Clients’ end users engaging via both the Internet and retail channels. GAN’s Clients together represent more than seventy casino properties located coast-to-coast generating in excess of $8bn in land-based casino gaming revenues annually.

This strategic partnership positions both GAN and SBTECH in the event the Supreme Court of the United States (“SCOTUS”) overturns or otherwise modifies the current Federal US prohibition on sports betting enshrined with the Professional and Amateur Sports Protection Act 1992 (“PASPA”).

SBTECH is a leading European B2B provider of sports wagering technology and related managed services including sports trading, odds compilation and risk management.

 

Management Commentary

Dermot Smurfit, CEO of GAN commented:

GAN has been asked by several Clients to review, procure and support the delivery of a sports betting solution both online and in the on-property retail channel in the event PASPA is overturned. We have conducted a lengthy diligence process in Europe to identify a preferred sports betting partner based on their technical capability, US licensing suitability, ability to integrate seamlessly with GAN’s enterprise software platform and the sophistication of their managed sports services. We are delighted to announce this strategic relationship with SBTECH.

Richard Carter, CEO for SBTECH commented:

GAN is a licensed, trusted partner to more than a dozen US casino operators equipped with unique intellectual property and a proven track record in delivering and growing Internet gaming businesses in the United States. This partnership is logical for SBTECH and permits SBTECH to rapidly introduce its sports betting technology and services to a wide range of US casinos with a view to being the first to settle a US sports bet online and on-property in States such as New Jersey and Pennsylvania, in close collaboration with GAN.

 

FAQs about US regulation & GAN’s real money online Regulated Gaming

  • In the event PASPA is overturned by SCOTUS in H1 2018 the US market opportunity for retail, online and mobile sports betting deployed on-property and online is expected to exceed $6bn by 2023 (source: Eilers & Krejcik Gaming, LLC November 2017). 
  • Internet gaming was effectively out-lawed in the United States during October 2006 by the Unlawful Internet Gaming Enforcement Act by prohibiting financial institutions from processing Internet gaming payments.
  • In 2013 three (3) US States passed laws to regulate Internet gaming within their borders: Nevada (pop. 2.8m), Delaware (1m) and New Jersey (8.9m) comprising a total of 12.6m people representing less than 4% of the US population (324m). In the neighbouring State of New Jersey (pop. 9m) the Internet gaming market commenced in November 2013 and generated $197m in gross Internet gaming revenues in calendar year 2016 representing 8.2% of the $2.4bn in land- based gross gaming revenues generated by New Jersey’s eight (8) casino properties operational in full or in part throughout 2016.
  • Both New Jersey and Pennsylvania have passed legislation enabling existing Internet gaming operators to launch Internet sports betting in the event PASPA is overturned by SCOTUS.
  • Pennsylvania has a population of 12.8m, which more than doubles the number of Americans, who will be legally permitted to wager real money on Internet casino games following the commencement of Regulated Gaming in the State of Pennsylvania, anticipated in the first half of 2018.
  • Real money online Regulated Gaming for GAN comprises wholly-regulated and US-compliant Internet gaming where end user players resident in wholly-legal jurisdictions deposit & wager real money while playing casino games online.
  • GAN received its first full US gaming licence in April 2017 awarded by the State of New Jersey.


GAN | Overview

GAN is a leading B2B supplier of Internet gaming enterprise software-as-a-service solutions to the US land-based casino Industry. GAN is listed on the ESM Market of the Irish Stock Exchange and the AIM Market of the London Stock Exchange under the ticker: GAN

The Company has developed an Internet gaming enterprise software system, GameSTACKTM, which it licenses principally to land-based US casino operators as a turnkey technology solution for both regulated real-money and/or virtual Simulated Gaming. GAN has thirteen (13) casino operators as clients of Simulated Gaming coast-to-coast across the US and Internationally; two (2) clients of real money Regulated Gaming in New Jersey; one (1) client of real money Regulated Gaming in Pennsylvania and ten (10) clients of real money Regulated Gaming in Europe.

The Internet Gaming System, developed in London under a UK Gambling Commission license, is certified to the highest technical standards currently required by gaming regulators. In April 2017 GAN was granted a Casino Service Industry Enterprise license by the New Jersey Division of Gaming Enforcement being GAN’s first privileged gaming license in the United States.

For more information please visit www.GAN.com

SBTECH | Overview

SBTech is the leading B2B supplier to the online betting and gaming industry in regulated markets worldwide. Its award-winning sportsbook platform is widely acknowledged as the industry’s leading solution offering operators best-in-class technology. SBTech is also recognised as one of the leading innovators when it comes to ground-breaking betting products and features.

The company’s recently-launched Managed Services offers gaming companies the opportunity to choose the services they want to manage or leave to SBTech; such as CRM, compliance or risk management.

As a member of the American Gaming Association’s sports betting taskforce, SBTech is proud to support the US gaming industry’s efforts to regulate its sports betting sector and work towards the best possible regulatory framework in the country. Defined by technical excellence, a powerful sportsbook engine and informed by deep market knowledge, SBTech’s innovative solutions deliver competitive edge and rapid growth for its clients.

For more information on SBTECH please visit www. SBTECH.com 


For further information please contact:

GAN Dermot Smurfit Chief Executive Officer +44 (0) 20 7292 6262 dsmurfit@GAN.com

US Investors: The Equity Group Adam Prior aprior@equityny.com 212.371.8660

UK & Ireland Investors: Walbrook PR Paul Cornelius GAN@WalbrookPR.com +44 20 7933 8780

Davy (Nominated Adviser, ESM Adviser and Joint Broker) John Frain / Barry Murphy +353 1 679 6363

Liberum (Joint Broker) Neil Patel / Cameron Duncan +44 (0) 20 3100 2000

GAN Releases Quarterly Key Performance Indicators for its 2017 Third Quarter

Continued Strong Growth from its core US market and Simulated Gaming
(Photo: Business Wire)(Photo: Business Wire)

LONDON & DUBLIN--()--GAN plc (“GAN” or the “Company”), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today announced the release of quarterly key performance indicators1 for the third quarter of 2017. This allows the US and global institutional investment community to properly track progress of GAN’s diverse business on a quarterly basis.Over the past fifteen months, GAN has begun to increase its institutional outreach to the United States, where the Company conducts the predominant portion of its business activities. The expanded financial information flow supports the increasing number of suitably-qualified US institutional investors who engaged with GAN’s equity story in late 2016 and 2017 to date. This Quarterly publication discloses the Active Player-Days and Average Revenue Per Active Player-Day (ARPDAU), in which GAN participates worldwide in regulated real money Internet gaming markets and Simulated Gaming™.Key Performance Indicators for Q4 2017 and CY2017 will be released with GAN’s full year CY2017 financial results on or before March 31, 2018. The composition and nature of GAN’s Key Performance Indicators will be reviewed by the US-based CFO anticipated to join GAN in early 2018.
                               
Quarterly KPIs     Q3 2016     Q4 2016     Q1 2017     Q2 2017     Q3 2017
Active Player-Days     1,700,908     2,037,233     2,227,905     2,600,842     2,996,914
% Change     - --     +19.8%     +9.4%     +16.7%     +15.2%
ARPDAU     $7.09     $7.42     $7.69     $6.98     $6.36
% Change     - --     +4.6%     +3.6%     -9.2%     -8.9%
                               
Third Quarter 2017 Highlights
  • Fifth successive Quarter of growth in Active Player-Days.
  • +15.2% Quarter-on-Quarter growth in Active Player-Days in Q3 2017 over Q2 2017 to 2,996,914 Active Player-Days.
  • -8.9% Quarter-on-Quarter decline in Average Revenue Per Daily Active User in Q3 2017 over Q2 2017 to $6.36 reflecting strong growth in higher-margin Simulated Gaming which proved modestly dilutive to ARPDAU across the enterprise.
Management CommentaryDermot Smurfit, CEO of GAN commented:“Five successive quarters of growth more recently driven by Simulated Gaming in the Company’s key market of the US. Overall ‘GAN-enabled revenue’ in which GAN participates increased +5% in Q3 2017 over Q2 2017. Moving ‘bricks & mortar’ US casinos online with GAN’s Simulated Gaming continued to deliver growth quarter on quarter despite the full impact of Summer seasonality which generally reduces players’ levels of online engagement and propensity to spend money.”

GAN Positioned for Strong Revenue Growth Commencing in 2018 as Bill to Legalize Real Money Internet Gaming in Pennsylvania Becomes Law

London & Dublin | October 31, 2017: GAN plc ("GAN" or the "Company") a leading B2B supplier of Internet gaming enterprise software-as-a-service solutions to the US land-based casino Industry, today announces that HB 271, a bill that includes provisions for the legalisation of full real money Internet gaming in Pennsylvania, was signed into law by the Governor of Pennsylvania yesterday. HB 271 was passed by the Senate in Pennsylvania on October 25, by the House of Representatives on October 26 and signed into law by Governor Tom Wolf on October 30.

Pennsylvania is the second largest casino market in the United States and becomes the fourth State where Americans will be permitted to undertake Internet gaming. The Pennsylvanian regulated Internet gaming market is now expected to commence in H1 2018 and GAN is positioned for strong revenue growth from that market commencing in 2018.

Management Commentary

Dermot Smurfit, CEO of GAN commented:

"The signing into law yesterday of House Bill 271 provides full certainty that real money Internet gaming is coming to Pennsylvania in 2018. Governor Tom Wolf elected to sign this major gaming expansion bill in order to start the clock ticking as soon as possible. GAN is positioned for strong revenue growth in 2018 both prior to and following the commencement of the new Pennsylvanian Internet gaming market in H1 2018 as the first land-based casino operators 'ready to go' are likely permitted to move online first. GAN is very well prepared for Pennsylvania to regulate. We have a full Internet gaming system already deployed inside a leading Pennsylvania casino, hold a full gaming license in New Jersey as well as being a registered authorized gaming services provider in Pennsylvania since 2014."

FAQ's about US regulation & GAN's real money online Regulated Gaming

·     Internet gaming was effectively out-lawed in the United States during October 2006 by the Unlawful Internet Gaming Enforcement Act by prohibiting financial institutions from processing Internet gaming payments.

·     In 2013 three (3) US States passed laws to regulate Internet gaming within their borders: Nevada (pop. 2.8m), Delaware (1m) and New Jersey (8.9m) comprising a total of 12.6m people representing less than 4% of the US population (324m).  In the neighbouring State of New Jersey (pop. 9m) the Internet gaming market commenced in November 2013 and generated $197m in gross Internet gaming revenues in calendar year 2016 representing 8.2% of the $2.4bn in land-based gross gaming revenues generated by New Jersey's eight (8) casino properties operational in full or in part throughout 2016.

·     Pennsylvania has a population of 12.8m, which more than doubles the number of Americans, who will be legally permitted to wager real money on Internet casino games following the commencement of Regulated Gaming in the State of Pennsylvania, anticipated in the first half of 2018.

·     Real money online Regulated Gaming for GAN comprises wholly-regulated and US-compliant Internet gaming where end user players resident in wholly-legal jurisdictions deposit & wager real money while playing casino games online.

·     GAN received its first full US gaming licence in April 2017 awarded by the State of New Jersey.

GAN | Overview

GAN is a leading B2B supplier of Internet gaming enterprise software-as-a-service solutions to the US land-based casino Industry. GAN is listed on the ESM Market of the Irish Stock Exchange and the AIM Market of the London Stock Exchange under the ticker: GAN

The Company has developed an Internet gaming enterprise software system, GameSTACK™, which it licenses principally to land-based US casino operators as a turnkey technology solution for both regulated real-money and/or virtual Simulated Gaming. GAN has thirteen (13) casino operators as clients of Simulated Gaming coast-to-coast across the US; two (2) clients of real money Regulated Gaming in New Jersey; and ten (10) clients of real money Regulated Gaming in Europe.

The Internet Gaming System, developed in London under a UK Gambling Commission license, is certified to the highest technical standards currently required by gaming regulators. In April 2017 GAN was granted a Casino Service Industry Enterprise license by the New Jersey Division of Gaming Enforcement being GAN's first privileged gaming license in the United States.

For more information please visit www.GAN.com

LONDON STOCK EXCHANGE (LSE): GAN | IRISH STOCK EXCHANGE (ISE): GAME

GAN Plc

Investor Presentation

London & Dublin | October 5, 2017: GAN plc ("GAN" or the "Company") a leading B2B supplier of Internet gaming enterprise software-as-a-service solutions to the US land-based casino Industry, announces that it will be hosting an investor presentation in London on Thursday 12 October 2017.

Dermot Smurfit, Chief Executive Officer of the Company will present the operational and financial results for the half year ended 30 June 2017, as well as an overview of the Company and its plans for the future.

The event is open to all investors and will be held from 16.30 for a 16.45 start at a venue in the City.

To register for the event, please email GAN@walbrookpr.com or call the Walbrook PR team, below.

GAN Chief Financial Officer Transition

Desmond Glass to Depart in Q4 2017 as CFO role relocates to Las Vegas

GAN plc (“GAN” or the “Company”) a leading B2B supplier of Internet gaming enterprise software-as-a-service solutions to the US land-based casino Industry, today announces the Group’s Chief Financial Officer (“CFO”) role will relocate from London to GAN’s US operations in Las Vegas commencing in Q4 2017 following interim H1 2017 results in September.

The CFO role transition better reflects GAN’s continued growth in the North American market. This follows the relocation of the CEO’s role to Las Vegas in Summer 2015; the relocation of the Chief Information Officer role to Las Vegas in Summer 2016; and the appointment of Las Vegas-resident Mr Seamus McGill as Chairman in April 2017, all of which have proven instrumental in accelerating growth of Simulated Gaming for GAN’s thirteen US casino clients coast-to-coast as well as GAN’s New Jersey real money Internet casino gaming services delivered to PaddyPower Betfair plc.

GAN’s CFO and Company Secretary Desmond Glass has decided not to transition to the United States at this time in order to pursue UK-based opportunities.

Management Commentary

Dermot Smurfit, CEO of GAN commented:

“After a successful multi-year period with GAN, and having been instrumental in preparing the Group for its successful public listing in November 2013, Desmond leaves behind a strong legacy best represented by GAN’s growing business in the US and selected regulated Internet gaming markets in Europe. We wish Desmond every success in the future. The relocation of the CFO role from London to Las Vegas aligns with GAN’s medium term strategy to seek admission to the US capital markets. Desmond will remain CFO in London until October and I expect that the new US-based CFO will be announced with our interim results on or before September 30, 2017. I look forward to working with Desmond closely in the coming months to prepare for the transition of his responsibilities.”

GAN Releases Quarterly Key Performance Indicators for its 2017 Second Quarter

Continued Strong Growth from its core US market and Simulated Gaming

London & Dublin | July 5, 2017: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today announced the release of quarterly key performance indicators for the second quarter of 2017. This allows the US and global institutional investment community to properly track progress of GAN's diverse business on a quarterly basis.

Over the past twelve months, GAN has begun to increase its institutional outreach to the United States, where the Company conducts the predominate portion of its business activities. The expanded financial information flow supports the increasing number of suitably-qualified US institutional investors who engaged with GAN's equity story in late 2016 and 2017 to date. This third Quarterly publication discloses the Active Player-Days and Average Revenue Per Active Player-Day (ARPDAU), in which GAN participates worldwide in regulated real money Internet gaming markets and Simulated Gaming™. Q3 2017 Key Performance Indicators will be released in October 2017.

Second Quarter 2017 Highlights

  • Fourth successive Quarter of growth in Active Player-Days.
  • +16.7% Quarter-on-Quarter growth in Active Player-Days in Q2 2017 over Q1 2017 to 2,600,842 Active Player-Days.
  • -9.2% Quarter-on-Quarter decline in Average Revenue Per Daily Active User in Q2 2017 over Q1 2017 to $6.98 reflecting strong growth in higher-margin Simulated Gaming which proved modestly dilutive to ARPDAU across the enterprise.

Management Commentary

Dermot Smurfit, CEO of GAN commented:

"GAN has now reported four successive quarters of growth more recently driven by Simulated Gaming in the Company's key market of the US. Overall 'GAN-enabled revenue' in which GAN participates increased +6% in Q2 2017 over Q1 2017. Moving 'bricks & mortar' US casinos online with GAN's Simulated Gaming continued to deliver growth quarter on quarter despite the onset of Summer seasonality which generally reduces players' levels of online engagement and propensity to spend money. GAN, like all Internet gaming companies with players principally located in the Northern Hemisphere, experiences Summer-related seasonality in both calendar Q2 and Q3 each year."