GAN Q3 results exceed expectations, rising to $80.9m

GAN grew its Q3 gross operator revenue by 203% year-on-year to $80.9m, with the supplier attributing this growth to expansion in real money regulated gambling in the US.

ganresults

Active player days rose to 5.4m, an increase of 59%, while average revenue per daily active user grew 91% to $15m.

Dermot Smurfit, CEO of GAN, said the company experienced a "better-than-expected" third quarter and pointed to the demand for US sports betting during the seasonally weaker summer months as an explanation.

From 11 to 13 September, GAN saw its share price jump from £0.68 ($0.83) to £0.88. It has however, declined since a peak of £0.91 on 23 September; it currently sits at £0.79.

Smurfit said: "The exceptional growth rate year-on-year is exaggerated by mass-market US online sports bettors in New Jersey crossing over into the online casino before, during and after sports events and the faster-than-anticipated ramp-up of Pennsylvania online gamblers."

The CEO also said GAN sees more online gamblers in Pennsylvania than in New Jersey.


Casino News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Nederlandse Loterij
Relax Gaming
Hoiana Resort & Golf
Tipico
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...