Positive 2017 developments in the US for igaming enterprise software supplier GAN have fuelled growth for the company.
The company launched its Simulated Gaming product for five new US-based clients and signed a casino client for real money Regulated Gaming in New Jersey.
Regulation of internet gaming in Pennsylvania was completed October 30, 2017, making it the fourth US state to regulate it.
Last year also saw the continued delivery of Betfair's New Jersey internet casino business BetfairCasino.com, supported by GAN's igaming platform, and continued investment in US infrastructure.
GAN's net revenue for the year was £9.1m, representing an increase of 17 per cent compared to 2016. Gross income was £41.1m, a 30 per cent increase. In addition, 2017 was the first time since 2013 that the company delivered its first full year of positive EBITDA, with a profit of £0.5m.
Dermot Smurfit, CEO, said: “GAN has continued to position its business to capture growth in emerging online gaming markets in the US. 2017 saw significant progress, with the launch of five new clients of Simulated Gaming, together with a number of significant commercial and strategic developments. The most significant of these was the passage into law of legislation on October 30, 2017 permitting 12.8 million Pennsylvanian residents to play real money internet casino games, starting in H2 2018.”
