Sunday 22 September 2019

Gan on a roll as it sets trading record

Momentum: Dermot Smurfit Jnr’s Gan has benefited from an expansion in online sports betting in the US
Momentum: Dermot Smurfit Jnr’s Gan has benefited from an expansion in online sports betting in the US
Ellie Donnelly

Ellie Donnelly

Dermot Smurfit Jr's Gan has said it was "trading at record levels" in the third quarter of 2018.

Releasing its key performance indicators for the second and third quarters of 2018 yesterday, the gaming software company said that it is experiencing "continued strong momentum".

Gan reported an 11pc quarter-on-quarter increase in gross operator revenue, which is client revenue enabled by Gan, in its third quarter to $26.7m (€23m).

This was driven by strong growth in real money regulated gambling in both Italy and New Jersey.

In New Jersey, the group launched its second client, Ocean Resort Casino, and also benefited from the commencement of regulated internet sports betting.

Meanwhile, daily active players increased by 8.6pc quarter-on-quarter.

"Gan traded at record levels during these past two quarters with significant growth in Q3 driven by the launch of our second New Jersey client of regulated gaming accelerated by the first month of US internet sports betting in September," Mr Smurfit said.

In September, Gan launched regulated internet sports betting for client PaddyPower Betfair's enlarged US business FanDuel.

In September, the group reported a 28pc jump in income in the six months to June 30 to €26.7m, with the US and Italy accounting for 61pc and 38pc of the gaming software company's net revenue respectively.

Irish Independent

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