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.