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GAN signals commitment to move to Nasdaq as 2019 revenue rises 114%

GameAccount Network (GAN) has signaled its commitment to move its stock listing to The Nasdaq Stock Market, after filing its registration statement on Form F-1 with the US Securities and Exchange Commission (SEC).

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The supplier expects the public listing to take place after the SEC completes its review process, which is subject to market conditions.

The supplier also announced net revenue increased 114% year-on-year to $30m for 2019, while adjusted EBITDA was $8.4m.

Yearly income after tax was up to $1.8m, following a loss of $7.7m in 2018.

GAN provided an update regarding the coronavirus outbreak, saying technical development has yet to be affected, while a rise in online gambling is expected to have a positive impact on overall revenue.

It expects Q1 2020 Gross Operator Revenues (GOR) to be in excess of $140m, while GOR from internet casino gaming in the US has increased 341% year-on-year since the coronavirus impact period commenced on 12 March.

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