US growth drives revenue up at GAN in first half
Online betting and gaming technologies provider GAN has put a 145% year-on-year increase in revenue during the first half down to the growth of its US business.
Group net revenue for the six months to June 30, 2019 amounted to £11.3m (€12.6m/$14.0m), which represents a significant increase on the £4.6m posted in the corresponding period last year.
The expansion of legal sports betting and online gambling in the US meant that revenue from the country was up substantially year-on-year. Real-money gaming US revenue in the first half amounted to £6.6m, compared to just £600,000 during the same period in 2018.
US simulated gaming revenue also rose, to £2.3m, with overall US recurring revenue up 67% on a year-on-year basis. GAN’s US operations accounted for 78% of group revenue in the six-month period.
GAN also noted growth in other markets, with European B2C revenue up from £100,000 to £600,000 and Italian revenue climbing from £1.7m to £1.8m.