Connect with us
European Gaming Congress Milan
NSoft

Latest News

GAN Reports Strong March 2019 Internet Gambling Growth For New Jersey

Published

on

12-3 GAN Reports Strong March 2019 Internet Gambling Growth For New JerseyReading Time: 2 minutes

 

Total Internet Gaming Win Increased 52.7% from prior year monthly period

 

GAN plc, an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today updated the market following the publication on April 12, 2019 by the New Jersey’s Division of Gaming Enforcement (“DGE”) of Internet gaming and Internet sports betting financial information for the calendar month of March 2019 in New Jersey.

Highlights from the DGE include:

  • Internet Gaming Win was $39.1 million in March compared to $25.6 million in the prior year period, reflecting a year-over-year increase of 52.7%.
  • Total Internet Sports Wagering Handle (1) was approximately $298.3 million for the month of March 2019, up from $259.0 million in February 2019, but slightly down from $305.0 million in January 2019.
  • Internet Sports Wagering Gross Revenues (2) (after payouts) were $24.3 million, up significantly from February’s $12.8 million and January’s $15.5 million.
(1) Gross amount of money accepted in wagers
(2) Internet Sports Wagering Gross Revenues may vary from month to month due to the payouts for future events occurring months after the original wager was made and unredeemed winning wagers from prior months will become deductible upon redemption in future months

This information will be updated and published each month, following publication by the DGE, in order to enable the investor community to readily monitor growth of Internet gambling in New Jersey, which remains a key market for GAN.

 

About GAN Plc:

GAN is a leading business-to-business (“B2B”) supplier of internet gambling software-as-a-service solutions (“SaaS”) to the US land-based casino industry. The Company has developed a proprietary internet gambling enterprise software system, GameSTACK2122-49 GAN Reports Strong March 2019 Internet Gambling Growth For New Jersey, which it licenses principally to land-based US casino operators as a turnkey technology solution for regulated real-money internet gambling, encompassing internet gaming, internet sports gaming and virtual Simulated Gaming. The Company has also launched digital user acquisition & retention marketing in support of the Internet Casino provided by GAN’s Digital Marketing Agency in Tel Aviv, Israel.

GAN is listed on the London Stock Exchange (LSE:GAN) and on Euronext Dublin (Euronext Growth:GAME).

For more information please visit www.GAN.com.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: GAN Reports Strong March 2019 Internet Gambling Growth For New Jersey

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

Latest News

Rise in Staffing Costs Results in Full-year Revenue Loss for Genius Sports

Published

on

9-10 Rise in Staffing Costs Results in Full-year Revenue Loss for Genius SportsReading Time: 1 minute

 

Genius Sports Group has posted a loss of £7.6m for the year 2018 despite a 23.9% yearly rise in revenue for the 12-month period.

Revenue for the year ended December 31, 2018, amounted to £65.8m, up from £53.1m in the year 2018. Genius Sports experienced momentous growth in its rest of world business, with revenue up from £200m to £31.3m. UK revenue also climbed from £6.1m to £7.3m, while rest of Europe revenue increased a little from £26.9m to £27.2m.

Though, GS also noted a growth in expenses for the year, with the cost of sales rising 52.4% from £18.4m to £28.0m and administrative expenses up from £23.3m to £29.5m. Hiring more staff costs particularly hit Genius, with this jumping from £22.3m to £29.7m as the business increased its employee numbering from 669 to 901 in the year.

The increased costs drove Genius from an operating profit of £5.9m in 2017 to an operating loss of £4.2m for the full year. Evaluating the results, Regulus Partners said that Genius’s historical pattern of growing revenue at the expense of profitability also need to be changed in order to deliver viable potential.

Market Analyst at Regulus also emphasised Genius’s acquisition of English and Scottish football official betting data from what is now Stats Perform, saying that this is “transformational to Genius and potentially transformational to the betting as well as sports rights sectors.”


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Rise in Staffing Costs Results in Full-year Revenue Loss for Genius Sports

Continue Reading

Latest News

Svenska Spel Launches Verisec’s Freja eID Technology

Published

on

8-9 Svenska Spel Launches Verisec’s Freja eID TechnologyReading Time: 1 minute

 

Svenska Spel has launched Verisec’s Freja eID to enhance its customer identification process.

The new gambling legislation that came into force on 1 January this year requires gaming companies to use an e-ID for registration of their customers. This is to increase safety and to ensure players’ age and identity. Until now, the customers of Svenska Spel have been referred to a single e-ID but with the introduction of Freja eID is given both greater choice and independence, by not being locked to a specific login method.

“Most companies that digitize their services put considerable resources on good user experience and to eliminate eventual friction for users who want to access the digital service. Thus, not keeping users locked to a specific sign-in solution is an important step. We believe that this is not only positive for the users, we also believe it is a strong competitive factor in that Svenska Spel is the first gaming company with a gaming license that offers its users more than one e-ID,” Johan Henrikson, CEO of Verisec said.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Svenska Spel Launches Verisec’s Freja eID Technology

Continue Reading

Latest News

Trustly Launches its New Product Trustly Live

Published

on

7-10 Trustly Launches its New Product Trustly LiveReading Time: 1 minute

 

Online banking payments provider Trustly has launched Trustly Live, the product built specifically for land-based gaming. With the introduction of Trustly Live, Trustly is helping to remove the need for cash at land-based casinos and sportsbooks.

With Trustly Live, players can scan a Trustly QR code with their smartphone and instantly deposit funds from their online bank account. This helps operators to lower cash handling costs while also catering to the preferences of their players. Additionally, Trustly Live can strengthen KYC and AML checks, ultimately helping to enhance the trackability of players and meet increasingly strict regulatory requirements. Trustly Live is currently live with Cherry Spelglädje in 45 locations in Sweden and plans to expand across Europe in the coming months.

“The launch of Trustly Live will help land-based operators thrive in today’s increasingly cashless economies. Cash handling is expensive, unsafe and, frankly, outdated. Consumers are already adopting safer and more convenient ways to pay and Trustly is excited to be bringing innovation to the land-based gaming world by helping operators keep pace with their players’ preferences,” Samuel Barrett, Director of Gaming at Trustly said.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Trustly Launches its New Product Trustly Live

Continue Reading

Trending

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.