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™.