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GAN Limited Releases Q2 Reports

GAN reports revenue over 8 million which is up 99% from last year, driven primarily by customer launches including Parx, FanDuel RMiG in Pennsylvania and New Jersey, and Snoqualmie Simulated Gaming, plus development that is organic. RMiG revenue increased 110% with Simulated Gaming increasing 79% duration to period. Through the six months ended June 30, 2020, earnings of $16.0 million increased 16% versus the prior year period, driven mainly by comparable client launches and growth that is organic. The growing season that is prior also included Other Revenue of $4.9 million related to hardware sales and the certification of GAN’s U.S. that is strategic patent.

RMiG segment gross revenue margin throughout the 3 months ended June 30, 2020 increased to 80% versus 47% in the year quarter that is prior. Simulated Gaming portion profit that is gross was flat versus the 12 months quarter that is prior. RMiG segment profit that is gross for 2019 was impacted by expenses linked to the manufacturing and launch for the money that is real B2C on the internet casino operated in the U.K. with WinStar Casino. Throughout the three and half a year ended June 30, 2019, the business recorded $0.5 million and $0.8 million in price of sales, respectively, with no revenue that is corresponding. GAN reports revenue over 8 million which is up 99% from last year.

Attribution is based upon the location of the entity that is legal of Company’s customer. Income generated into the United States represented 85% of total revenue during the 3 months ended June 30, 2020, versus 75% in the year quarter that is prior. This reflects the Company’s focus on the rising U.S. Internet casino gaming and sports industry that is betting supported by the GameSTACK™ platform optimized because of this market.

The Company generated $4.4 million in revenues from the U.K. in the half that is second of principally from the B2C online casino operated in conjunction with WinStar Casino. WinStar Casino withdrew from the collaboration December that is effective 31 2019. The Company does not really expect to produce significant revenues from the U.K. in 2020 unless it identifies another operator that is branded sponsor the B2C on-line casino.

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