Online sports betting in the US drives GAN’s revenues up by 202.7%. GAN said the demand for sports betting services across the US has been stronger than expected and has helped tremendously with its Q3 revenues and year to date gains.
GAN reported for three months to September 30, gross operating revenues amounted to $80.9 million. Q3 results from last year were $26.7 million, so a significant increase. Gross operating revenues are comprised of the total amount of GAN’s Simulated Gaming business and gross gaming revenue from all real money gaming and sports wins from regulated sports betting activities.
GAN said New Jersey players are starting to cross over into the online casino before and after sporting events which is helping the casino sector of the company. GAN also reported that Pennsylvania players have ramped up faster than what was anticipated since the launch of online sports betting in June of this year.
Not only has GAN experience a boost in revenues, they have seen an increase in active players per day by 58.8%, 5.4 million for the quarter. Average revenues per day per player jumped to $14.97, a 90.7% increase.