GAN plc, developer and supplier of B2B Internet gaming software, services and online gaming content in the US, has released its quarterly key performance indicators for the fourth quarter of 2018. The firm cited “…exceptionally strong momentum with all business units of the company” – including real-money gaming, simulated gaming, and online sports betting – operating at record levels in Q4 2018.
Putting that performance into figures, gross operator revenue increased by 103.9 per cent year-over-year and 56.4 per cent quarter-over-quarter to $41.8m. Instrumental to the increase, said the company, was strong growth in real money regulated gambling in the US and Europe.
The KPI update also revealed that active player-days increased to 4.6 million, an increase of 50.6 per cent year-over-year and 35.7 per cent quarter over quarter. Exceptional growth, it went on to say, was experienced in New Jersey-driven, regulated Internet sports betting.
In his management commentary, CEO Dermot Smurfit confirmed: “Internet Sports betting in New Jersey drove exceptional growth of gross operator revenue in the last quarter of 2018 with a significant positive impact on casino revenues from cross-selling casino games to sports gamblers.”
The update comes in the wake of GAN’s recent announcement that it has signed a material long-term deal with the FanDuel Group for rapid deployment of Internet casino, and account services for Internet sports betting in Pennsylvania and West Virginia, in addition to the existing services provided since 2013 by GAN to FDG in the State of New Jersey.