Business Irish

Friday 20 September 2019

Smurfit Jnr’s Gan reports strong momentum with trading at 'record levels'

Dermot Smurfit Jr
Dermot Smurfit Jr
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 quarterly key performance indicators for the second and third quarters of 2018, the gaming software company said that it is experiencing "continued strong momentum".

Gan reported an 11.3pc quarter-on-quarter increase in gross operator revenue, (client revenue enabled by Gan) in its third quarter over its second quarter to $26.7m. 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.

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