GAN Reports October 2019 Internet Gambling Growth For Pennsylvania

Internet Gambling Win Increased 8.8% from September

LONDON--(BUSINESS WIRE)--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 November 18, 2019, by the Pennsylvania Gaming Control Board (“PGCB”) of Internet gaming and Internet sports betting financial information for the calendar month of October 2019 in Pennsylvania.

Highlights from the PGCB include:

• Internet Gaming Win was $4.9 million in October, reflecting an increase of 19.5% from the prior sequential month.⁽¹⁾ This compares to:
  • $4.1 million for the month of September;
  • $3.4 million for the month of August; and
  • $0.8 million for the month of July.
• Total Internet Sports Wagering Handle⁽²⁾ was approximately $198.7 million for the month of October, compared to:
  • $158.2 million for the month of September;
  • $83.2 million for the month of August; and
  • $39.0 million for the month of July.
• Internet Sports Wagering Gross Revenues⁽³⁾ (after payouts) for the month of September were $14.5 million, compared to:
  • $13.7 million⁽⁴⁾ for the month of September;
  • $6.3 million for the month of August; and
  • $2.9 million for the month of July.

1. Internet Gaming Win was misstated in the Company’s previous press releases concerning Pennsylvania market data and has been adjusted accordingly in this announcement.
2. Gross amount of money accepted in wagers
3. 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
4. This number was understated as $13.4 million in GAN’s press release dated October 18, 2019, as it excluded gross revenues of $268,844 from Mount Airy casino.

This information will be updated and published each month, following publication by the PGCB, in order to enable the investor community to readily monitor growth of Internet gambling in Pennsylvania, which remains a key market for GAN.

About GAN Plc

GAN is a leading business-to-business (“B2B”) supplier of internet gambling software-as-a-service solutions (“SaaS”) to the US land-based casino industry. The Company has developed a proprietary internet gambling enterprise software system, GameSTACK™, which it licenses principally to land-based US casino operators as a turnkey technology solution for regulated real-money internet gambling, encompassing internet gaming, internet sports gaming and virtual Simulated Gaming. The Company has also launched digital user acquisition & retention marketing in support of the Internet Casino (https://casino.winstar.com) provided by GAN’s Digital Marketing Agency in Tel Aviv, Israel.

GAN is listed on the London Stock Exchange (LSE: GAN).

For more information please visit www.GAN.com.