GameAccount Network (GAN) reported a 222% revenue rise year-on-year for the third quarter. The operator has seen their profits rise $121.5m for the period, ending on the 30th of September. Let’s take a look at the story as a whole.
It was only last month when GAN announced an expansion following a deal with sports betting giant FanDuel. The deal will allow the supplier to expand to Indiana, as FanDuel is licensed to operate there. You can read up more about that at the latest online gambling news.
GAN Q3 Shines with Credit Due to US Sports Betting Handle
Last month, the supplier delivered revenue of $40.6m to its clients, up 269% from 2018.
The revenue rise was attributed by the supplier to the high demand for internet gambling in both New Jersey and Pennsylvania, following the launch of the NFL season in September.
Performance was also improved by the cross-selling of online sports bettors to online casino gaming in both states.
GAN Q3 results show us that the revenue grew and there was a rise in active player days to $5.4m, an increase of 59%.
Dermot Smurfit, GAN CEO, commented on the matter:
“We are pleased the ramp up in real money internet gambling is accelerating ahead of our budgeted expectations in Pennsylvania and New Jersey, particularly since the start of the American football season in early September.
“Given the rapid increase in the total addressable market for the US internet gambling operators and their infrastructure providers such as GAN, we expect to see continued and rapid growth.”
It shall be interesting to see where the gambling supplier goes from here. To read up more about GAN and how well they fare in the US with their performances, check out our designated page for online casino news.