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October 2018 New Jersey Stats

22 November, 2018
 
 
LONDON STOCK EXCHANGE (LSE): GAN | IRISH STOCK EXCHANGE (ISE): GAME
 
Strong Growth of Internet Gambling in New Jersey

Internet Gambling Market Accelerates in H2 2018
 
London & Dublin | November 22, 2018: GAN plc (“GAN” or the “Company”), an award-winning developer and supplier of enterprise-level B2B Internet gambling software and services in the United States, today updates the market following publication on November 15, 2018 by the New Jersey’s Division of Gaming Enforcement (“DGE”) of Internet sports betting and Internet gaming financial information for the calendar month of October 2018 in New Jersey.
 
This information will be updated and published each month as a Regulatory News Service statement until further notice, following publication by the DGE, in order to enable the investor community to readily monitor growth of Internet gambling in New Jersey which remains a key market for GAN.
 
New Jersey CY2015 CY2016 CY2017 1H 2018 Q3 2018 Oct 2018 YTD
Gross Revenue $148.9M $196.8M $245.6M $139.5M $92.1M $35.6M $267.3M
% Change YoY +14.4% +32.2% +24.8% +14.9% +48.0% +73.1% +30.9%
               
Casino GGR $125.1M $170.2M $221.3M $128.4M $71.2M $25.1M $224.7M
% Change YoY +23.8% +36.1% +30.1% +18.0% +26.5% +34.7M +22.3%
               
Poker GGR $23.8M $26.6M $24.3M $11.1M $5.3M $1.7M $18.1M
% Change YoY -18.1% +11.6% -8.7% -11.5% -12.0% -14.5% -11.9%
               
Sports Handle1 - -- - -- - -- - -- $126.6M $174.4M $301.0M
% Margin - -- - -- - -- - -- 12.4% 5.1% 8.2%
Gross Win - -- - -- - -- - -- $15.7M $8.8M $24.5M
% Change YoY - -- - -- - -- - -- - -- - -- - --
               
 
 
FAQ’s about New Jersey, Internet Gambling ‘Platform’ & US sports betting regulation
 
  • New Jersey’s regulated Internet gaming market commenced in November 2013. The regulated Internet sports betting market commenced in August 2018. New Jersey has a population of 9.0M people (2.8% of the total US population). New Jersey was the third US State to regulate Internet gaming in 2013, following passage of similar enabling legislation in the State of Nevada and the State of Delaware.
 
  • Pennsylvania has a population of 12.8M (3.9% of US total) and passed legislation for Internet gambling in October 2017. The market for Internet gaming and Internet sports betting in the State of Pennsylvania is anticipated to commence in H1 2019.
 
  • For investors and Industry analysts: The core of a “Platform” from both a technical and regulatory standpoint is the Player Account Management System i.e. where highly sensitive customer and player activity data is stored and processed. Other elements of Platform can include a sportsbook transaction engine, gaming content integrations, payment services, marketing services, trading services and other ancillary activities. However, the core functionality to describe B2B systems and services as a 'Platform' is the Player Account Management System. This is also the layer of B2B activity which tends to require regulatory approval as a 'Platform' since it is the focal point of data and player security. Therefore, without the Player Account Management System, a service provider might be offering very valuable B2B functionality but not in the strictest sense a 'Platform' (source: Regulus Partners, an international gambling advisory group). 
 
  • The Federal ban on sports betting enshrined within Professional and Amateur Sports Protection Act 1992 (“PASPA”) was repealed by the Supreme Court of the United States on May 14, 2018 permitting individual US States to pass their own sports betting laws.
 
 
Notes:
 
1              Internet sports betting launched in New Jersey on August 3, 2018 and “Handle” is defined as the sum of all sports betting wagers by the DGE
 
 
 
For further information please contact:
 
GAN US Investors: The Equity Group
Dermot Smurfit Adam Prior
Chief Executive Officer [email protected]
+44 (0) 20 7292 6262 212.371.8660
[email protected]  
  UK & Ireland Investors: Walbrook PR
  Paul Cornelius
  [email protected]
  +44 20 7933 8780
 
  Davy (Nominated Adviser, ESM Adviser and Joint Broker)  
  John Frain / Barry Murphy  
  +353 1 679 6363  
   
Liberum (Joint Broker)
 
  Neil Patel / Cameron Duncan  
  +44 (0) 20 3100 2000  
 
GAN | Overview
 
GAN is a leading B2B supplier of Internet gambling enterprise software-as-a-service solutions to the US land-based casino Industry. GAN is listed on the ESM Market of the Irish Stock Exchange and the AIM Market of the London Stock Exchange under the ticker: GAN
 
The Company has developed an 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 betting and/or virtual Simulated Gaming.
 
GAN has fourteen (14) casino operators as clients of Simulated Gaming coast-to-coast across the US and Internationally; two (2) clients of real money Regulated Gambling in New Jersey; one (1) client of real money Regulated Gambling in Pennsylvania and ten (10) clients of real money Regulated Gambling in Europe.
 
The Internet Gambling System, developed in London under a UK Gambling Commission license, is certified to the highest technical standards currently required by gambling regulators. In April 2017 GAN was granted a Casino Service Industry Enterprise license by the New Jersey Division of Gaming Enforcement being GAN’s first privileged gaming license in the United States. In May 2018, the US Supreme Court repealed PASPA and GAN confirmed the H2 launch of sports betting for US clients integrated into GAN’s enterprise software platform. In September 2018 GAN launched Internet sports betting in New Jersey, available as an integrated option alongside Internet gaming.
 
For more information please visit www.GAN.com
 
 

Recent News

28 May, 2020
GAN Announces Cordish Gaming Group as a Major New Client of Internet Gambling in Pennsylvania

London | May 28, 2020: GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading business-to-business supplier of internet gambling software-as-a-service solutions to the U.S. land-based casino industry, today announced that Cordish Gaming Group, the global gaming division of The Cordish Companies, has engaged GAN as their enterprise software Platform provider to power their new “PlayLive!” branded Internet gambling business in the State of Pennsylvania, complementing the development of two new Live!-branded gaming facilities in Philadelphia and Pittsburgh.
 

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19 May, 2020
GAN Provides April 2020 Internet Gambling Market Update For Pennsylvania as Reported by the Pennsylv

London | May 19, 2020: GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading business-to-business supplier of internet gambling software-as-a-service solutions primarily to the U.S. land-based casino industry, today updated the market following the publication on May 18, 2020, by the Pennsylvania Gaming Control Board (“PGCB”) of Internet gaming and Internet sports betting financial information for the State of Pennsylvania during the calendar month of April 2020. 

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14 May, 2020
GAN Reports April 2020 Internet Gambling Growth For New Jersey

London | May 14, 2020: GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading business-to-business supplier of internet gambling software-as-a-service solutions primarily to the U.S. land-based casino industry, today updated the market following the publication on May 13, 2020, by New Jersey’s Division of Gaming Enforcement (“DGE”) of Internet gaming and Internet sports betting financial information for the calendar month of April 2020 in New Jersey. 

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