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Sports betting boosts GAN in Q2


Online betting and gaming technology provider GAN has seen trading in the second quarter of its financial year beat expectations, with seasonal decline in igaming revenue offset by the strong performance of clients’ sportsbook offerings. 

While the supplier did not publish figures for the three months ended June 30, 2019, it noted that it benefitted from high levels of activity around basketball and baseball in New Jersey in Q2. 

It also benefitted from higher than expected cross-sell from internet sports betting into online casino in the state, where it powers clients including Flutter Entertainment’s FanDuel and Ocean Resorts Casino.

It said this contributed to a “highly positive” outlook for the year, with its Pennsylvania client, Greenwood Gaming & Entertainment’s Parx Casino, launching online wagering from June 24. Parx will expand its offering further when the state’s igaming market launches on July 15. 

This will be complemented by additional client launches, and signing contracts with new partners, and as a result it expects to report high double-digit revenue growth in its full-year results. 

However, it added, growth will also be contingent on the performance of, the Europe-facing igaming offering launched for the Oklahoma-based Chickasaw Nation tribe. It may also be affected by the impact of Italy’s gambling advertising ban, with GAN powering nine clients in the market.

In the second half of the year, GAN chief executive Dermot Smurfit said the supplier was focused on securing new clients and expanding relationships with existing customers. 

It will also enable browser-based gaming for mobile devices running on Apple’s iOS. This is designed to mitigate the tech giant’s policy change, announced in May, that will see it remove HTML5-based real-money gambling apps from its App Store.