TIDMGAN
RNS Number : 2217K
GAN PLC
05 July 2017
LONDON STOCK EXCHANGE (LSE): GAN | IRISH STOCK EXCHANGE (ISE):
GAME
GAN Releases Quarterly Key Performance Indicators for its 2017
Second Quarter
Continued Strong Growth from its core US market and Simulated
Gaming
London & Dublin | July 5, 2017: GAN plc ("GAN" or the
"Company"), an award-winning developer and supplier of
enterprise-level B2B Internet gaming software, services and online
gaming content in the United States, today announced the release of
quarterly key performance indicators for the second quarter of
2017. This allows the US and global institutional investment
community to properly track progress of GAN's diverse business on a
quarterly basis.
Over the past twelve months, GAN has begun to increase its
institutional outreach to the United States, where the Company
conducts the predominate portion of its business activities. The
expanded financial information flow supports the increasing number
of suitably-qualified US institutional investors who engaged with
GAN's equity story in late 2016 and 2017 to date. This third
Quarterly publication discloses the Active Player-Days and Average
Revenue Per Active Player-Day (ARPDAU), in which GAN participates
worldwide in regulated real money Internet gaming markets and
Simulated Gaming(TM). Q3 2017 Key Performance Indicators will be
released in October 2017.
Second Quarter 2017 Highlights
-- Fourth successive Quarter of growth in Active Player-Days.
-- +16.7% Quarter-on-Quarter growth in Active Player-Days in Q2
2017 over Q1 2017 to 2,600,842 Active Player-Days.
-- -9.2% Quarter-on-Quarter decline in Average Revenue Per Daily
Active User in Q2 2017 over Q1 2017 to $6.98 reflecting strong
growth in higher-margin Simulated Gaming which proved modestly
dilutive to ARPDAU across the enterprise.
Management Commentary
Dermot Smurfit, CEO of GAN commented:
"GAN has now reported four successive quarters of growth more
recently driven by Simulated Gaming in the Company's key market of
the US. Overall 'GAN-enabled revenue' in which GAN participates
increased +6% in Q2 2017 over Q1 2017. Moving 'bricks & mortar'
US casinos online with GAN's Simulated Gaming continued to deliver
growth quarter on quarter despite the onset of Summer seasonality
which generally reduces players' levels of online engagement and
propensity to spend money. GAN, like all Internet gaming companies
with players principally located in the Northern Hemisphere,
experiences Summer-related seasonality in both calendar Q2 and Q3
each year."
FAQ's about GAN's Simulated Gaming(TM) & real money online
Regulated Gaming
-- 96% of Americans cannot legally play online casino games for
real money. Launched in the US by GAN in January of 2014, Simulated
Gaming(TM) allows these Americans to engage with a realistic
for-entertainment-only online casino. American 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. American casino patrons frequently cite 'practising at home
online before visiting the casino' as a major reason for playing
casino gaming online, despite not being permitted to win real
money.
-- Supported by GAN's 193 months of operating data across
thirteen (13) major US casinos' deployments, Simulated Gaming(TM)
has repeatedly proven to drive increased visitation back to the
casino and is proven to increase property visitation among existing
patrons, reactivate lapsed patrons bringing them back to the casino
and drive acquisition of new patrons from outside the typical drive
distance to the property.
-- Real money online Regulated Gaming for GAN comprises
wholly-regulated and US-compliant Internet gaming where end user
players resident in wholly-legal jurisdictions deposit & 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. GAN's Regulated Gaming business activities are centred
on the UK and Italy in Europe and the State of New Jersey in the
US.
GAN | Overview
GAN is a leading B2B supplier of Internet gaming enterprise
software-as-a-service solutions to the US land-based casino
Industry. GAN is listed on the ESM Market of the Irish Stock
Exchange and the AIM Market of the London Stock Exchange under the
ticker: GAN
The Company has developed an Internet gaming enterprise software
system, GameSTACK(TM), which it licenses to online and land-based
gaming operators as a turn-key technology solution for both
regulated real-money and simulated online gaming. The Internet
Gaming System, developed in London under a UK Gambling Commission
license, is certified to the highest technical standards currently
required by gaming regulators.
GAN is also a leading developer of proprietary online games with
a complementary business converting offline casino slot machines
and table games into online equivalents on behalf of major
land-based slot machine manufacturers including Aristocrat,
Ainsworth, KONAMI, Everi (formerly Multimedia Games), Incredible
Technologies, GamoMat, Reel Time Gaming, High Flyer Games and
Scientific Games (via DEQ Systems Corp).
GAN has an established business in Europe, licensing gaming
content to major European gaming operators including Bet365,
Betfair PaddyPower, William Hill, Rank, Lottomatica, Sisal and
SNAI.
In the United States for real money Internet gaming, GAN has
partnered with Betfair Plc to provide its Internet Gaming System
following the introduction of regulated real-money online gaming in
New Jersey in November 2013.
In the United States for Simulated Gaming(TM), GAN has partnered
with an increasing number of major land-based US casinos
coast-to-coast. In New York, GAN has launched a Simulated
Gaming(TM) website via www.EmpireCityCasino.com in September 2014.
In Pennsylvania, GAN launched a Simulated Gaming(TM) website
www.ParxOnline.com in March 2015. In March 2015, Maryland Live!
Casino in Maryland chose GAN to upgrade their existing free-to-play
website to a monetized Simulated Gaming(TM) website, soft-launched
in July 2015 and launched integrated with their casino management
system in November 2015. In September 2015, major Californian
Tribal casino operator San Manuel chose GAN's Simulated Gaming(TM)
launched in November 2015. In October 2015, American Casino &
Entertainment Properties (ACEP) chose GAN's Simulated Gaming(TM)
launched in December 2015. In December 2015, Borgata Casino Hotel
& Spa chose GAN's Simulated Gaming(TM) launched in May 2017.
Also in December 2015 Lady Luck Interactive, a wholly-owned
subsidiary of Isle of Capri Corporation, chose GAN's Simulated
Gaming(TM) and launched in July 2016. In February 2016 Rock Gaming
(re-branded as JACK Entertainment) chose GAN's Simulated Gaming(TM)
to support their Ohio-based casino properties launched online in
October 2016. In March 2016 Twin River in the North East chose
GAN's Simulated Gaming(TM) and launched in November 2016. In April
2016, the owners of major tribal casino WinStar World Casino and
Resort chose GAN's Simulated Gaming(TM), which launched in May
2017. In June 2016, Tribal casino operator TurningStone Casino
Resort chose GAN's Simulated Gaming(TM) and launched in March 2017.
In July 2016 Nevada's Station Casinos chose GAN's Simulated
Gaming(TM) launched in May 2017. In September 2016, a major
existing US casino client nominated GAN to launch real money
Internet casino gaming in Europe and other Rest of World regulated
markets commencing in 2017.
In April 2017 GAN was granted a Casino Service Industry
Enterprise license by the New Jersey Division of Gaming Enforcement
being GAN's first privileged gaming license in the United
States.
For more information please visit www.GAN.com
For further information please contact:
GAN Investors: The Equity
Group
Dermot Smurfit Adam Prior
Chief Executive Officer aprior@equityny.com
+44 (0) 20 7292 6262 212.371.8660
dsmurfit@GAN.com
Davy (Nominated
Adviser, ESM Adviser
and Joint Broker)
John Frain / Barry
Murphy
+353 1 679 6363
Liberum (Joint
Broker)
Neil Patel / Cameron
Duncan
+44 (0) 20 3100
2000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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