Online gambling firm GAN reports record activity in first quarter of 2018

Online gambling software developer GAN PLC said Monday that its 2018 first quarter saw its simulated gaming and real money regulated gaming trade at record levels.

GAN‘s first quarter 2018 saw its seventh straight quarter of growth in active player-days, which refers to the average active players multiplied by the number of days in the period.

There was a 4.2% quarter-on-quarter growth in active player-days in the first quarter of 2018 over the fourth quarter of 2017 to 3.2 million from 3.1 million.

The online gambling software company also saw a 12.9% quarter-on-quarter increase in average revenue per daily active user in the first quarter of 2018 to USD7.55 from USD6.68 in the fourth quarter of 2017.

Simulated gaming allows users to engage with a realistic for-entertainment-only online casino. Players may open an account online and purchase virtual credits with real money in order to extend their time playing their favourite casino games online.

Real money online regulated gaming comprises wholly-regulated and US-compliant internet gaming where end user players resident in wholly-legal jurisdictions deposit and wager real money while playing casino games online. GAN received its first full US gaming licence in April 2017 awarded by the state of New Jersey.

Shares in GAN were trading up 4.4% Monday midday at 28.20 pence each.

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

Source: iii.co.uk – By Paul McGowan; [email protected]