GAN reports strong growth in US market
GAN, the gaming software company headed up by Dermot Smurfit Jr, has reported strong growth in its core US market as it increases its outreach there.
The company recorded 15pc quarter-on-quarter growth in active player-days to 3 million, up from the 1.7 million active player-days that the company had this time last year.
This represents the fifth successive quarter of growth in active player days for GAN.
However GAN experienced a 9pc quarter-on-quarter decline in average revenue to $6.36 per daily active user in the three months to 30 October.
Overall 'GAN-enabled revenue' in which GAN participates increased 5pc in the thee month period when compared with the three months to 31 July.
"Moving 'bricks and mortar' US casinos online with GAN's Simulated Gaming continued to deliver growth quarter-on-quarter despite the full impact of summer seasonality which generally reduces players' levels of online engagement and propensity to spend money," Dermot Smurfit, CEO of GAN, said.
Over the past fifteen months, GAN has begun to increase its institutional outreach to the US, where the company conducts the predominant portion of its business activities.
In September this year the company reported a 6pc increase in net revenue to £4.1m for the six month period to 30 June.