Net revenue and earnings were both down for GameAccount Network for the six months to June 30, with CEO Dermot Smurfit saying the results were as forecast.
“The first half of 2014 has continued the period of investment [for GAN] and performance to date is in line with expectations,” said Smurfit in a statement.
In H1, net revenue fell to £4.2m from £9.1m for the same period in 2013, while clean EBITDA showed a loss of £0.4m, down from earnings of £5.9m year on year.
“Following our launch of real-money gaming in New Jersey last year, the launch of Simulated Gaming across the US has been another innovative step for the business,” said Smurfit, going on to cite recent Simulated Gaming deals with Osage Casinos, Parx Casino and Empire City Casino, which built on the 2013 contract with Foxwoods.
“Our first half revenue from gaming system sales was down year on year,” continued Smurfit, “however we are actively engaging with multiple potential system buyers and we remain confident in our ability to continue to deliver on sales of our gaming system to casino equipment manufacturers.”
