GAN trading at ‘record’ levels in Q1

GAN has revealed that it was able to trade at record levels across its Simulated Gaming and real-money regulated operations during the first quarter.

The company reported a seventh consecutive quarter of growth in active player days, with this key performance indicator (KPI) rising 4.2% quarter-on- quarter to 3.2 million.

Average revenue per daily active user was also up 12.9% from $6.68 (€5.40) in the final quarter of last year to $7.55 in the opening three months of 2018.

Dermot Smurfit, chief executive of GAN, said: “GAN is trading at record levels, demonstrating the sustained progress GAN has made in developing our market position.

“In the US, GAN is focusing on real-money regulated gaming in New Jersey and Simulated Gaming for clients coast-to-coast across America supported by substantial organic growth in Italy, one of Europe’s largest regulated markets for internet gambling.”

Confirmation of growth across KPIs during the first quarter comes after GAN last month announced a 17% year-on-year increase in revenue to just over £9m for 2017.

Earnings before interest, tax, depreciation and amortisation for the 12 months was also up from a loss of £1m in 2016 to a positive of £454,000, while gross income climbed 30% to around £41m.

GAN intends to release its KPIs for the second quarter along with interim results for the third quarter of the current year.

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