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.