GAN reiterates 2020 forecast despite Covid-19

Gambling software supplier GAN has reiterated its confidence in its 2020 forecast, which projected revenue of $37m-$39m, even as the novel coronavirus (Covid-19) affects its sports betting vertical.

This came alongside the developer’s 2019 results, which revealed a 114% year-on-year increase in revenue, to $30.0m for the year, as well as the signing up of Penn National Gaming and Michigan’s Sault Tribe of Chippewa Indians as its latest clients.

GAN said that, as of March 12th, online sports betting revenues had exceeded expectations. Even considering the suspension of all major sports from mid-March, revenue for the vertical is projected to come in ahead of target.

Gross operator revenue for Q1 is expected to grow 15.9% to $140m. This is mostly driven by a 341% year-on-year increase in gross operator revenue from US online casino.

Read more on iGB North America.