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.
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.
