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.

Premium+ Connections
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Chicken Ranch Casino
The Responsible Gambling Affiliate Association (RGAA)
Catena Media
Gambling Commission
Follow Us
The most prestigious Awards in the industry are heading to the Philippines! The Global Gaming Awards Asia-Pacific will recognise and reward (as the name suggests) the strongest performers from the Asia-Pacific gaming industry across the previous 12 months.
This year's winners will be announced at a luncheon ceremony on Day 2 of SiGMA Asia, 4th June, in Manila.
The eleventh annual Global Gaming Awards Americas will recognize and reward the gaming industry's strongest performers across the previous 12 months. These are the most prestigious and trusted Awards in the industry and have gained respect amongst industry heavyweights, due to the strict rules and procedures put in place.

Facing Facts: Operator Q3s from across the globe

Gambling Insider compares Q3 2023 results from major gamblin...

Taking Stock: Operators and suppliers across the world

Sticking with our theme of gambling across the globe, Gambli...

CEO Special: Jade Entertainment and Gaming CEO Joe Pisano - down to earth

Jade Entertainment and Gaming CEO Joe Pisano speaks to Gambl...

CEO Special: Betfred CEO Joanne Whittaker - saying it as it is

Betfred CEO Joanne Whittaker joins Gambling Insider Editor T...