BUSINESS

GAN hails record results on US online gambling, betting spread

TAGs: gan

gan-records-us-gambling-betting-expansionOnline gambling technology supplier GAN reported record activity in the third quarter of 2018 thanks in part to its new US sports betting operations.

On Tuesday, the UK- and Ireland-based GAN reported key performance indicators (KPI) for the three months ending September 30, during which active player days hit 3.4m, a 13.3% rise over the same period last year and 8.6% above Q2’s figure. Average revenue per daily average user hit $7.85, one-quarter higher year-on-year and 2.5% above Q2.

GAN introduced a new KPI in its latest report, ‘gross operator revenue,’ which encompasses “GAN-enabled” revenue generated via GAN’s Simulated Gaming social casino business, real-money online gambling and real-money sports betting. This metric hit $26.7m in Q3, up 11.3% from Q2 and 40% higher year-on-year.

GAN CEO Dermot Smurfit hailed his company’s “record” performance over the past two quarters and credited its second online gambling launch in New Jersey (Ocean Resort Casino) and the launch in September of real-money online sports betting for Paddy Power Betfair’s US-facing FanDuel brand.

The rapidly expanding US market already had GAN predicting that its full-year 2019 revenue will be one for the record books, while the company also warned that its H2 2018 performance was partly dependent on how soon Pennsylvania regulators approved their intrastate online gambling market (progress on which remains glacial).

GAN also said its H2 results would depend on how fast it could roll out marketing for Winstar.com, the new European regulated market online casino operations of the Chickasaw Nation. On September 12, GAN’s digital marketing agency in Tel Aviv launched digital user acquisition & retention marketing in support of the Winstar business.

In October, GAN extended its Simulated Gaming relationship with regional casino operator JACK Entertainment, which operates three venues in Ohio (and recently sold its Detroit casino to Penn National Gaming). GAN first hooked up with JACK’s previous identity, Rock Gaming, in 2016.

Comments

views and opinions expressed are those of the author and do not necessarily reflect those of CalvinAyre.com