GAN Links Revenue Growth To Demand For US sports Betting

GameAccount Network (GAN) posted $121.5 m gross operator revenue for the four-month period ended Oct 31, a rise of 222% year-on-year.

Last month, the manufacturer provided its customers with revenue of $40.6 m, up 269 million from 2018.

GAN attributed revenue growth to the high demand for internet gambling in both New Jersey and Pennsylvania following the launch in September of the NFL season.

Cross-selling online sports bettors to online casino players in both states also improved performance.

After expanding its deal with FanDuel, the supplier also launched in Indiana last month.

GAN’s Q3 results were released last month, showing revenue growth of 203% to $80.9 million and an increase of $5.4 million in active player days, an increase of 59%.

Dermot Smurfit, GAN CEO, said: “We are pleased the ramp up in real money internet gambling is accelerating ahead of our budgeted expectations in Pennsylvania and New Jersey, particularly since the start of the American football season in early September.

“Given the rapid increase in the total addressable market for the US internet gambling operators and their infrastructure providers such as GAN, we expect to see continued and rapid growth.”