GAN net revenues increase 30% in 2016
Dermot Smurfit, chief executive of GAN said: “Real-money internet gaming in New Jersey and the pace of regulation in the US market has remained slower than expected although growth in New Jersey out-performed our full year expectations with gross gaming revenues up 32% year on year to $197m. We are confident in the long-term prospects for real-money gaming.
“For 2017 we believe that the opportunity for GAN with Simulated Gaming will more than adequately compensate for the delays in regulating real-money internet gaming in the US which also positions GAN to serve existing clients of Simulated Gaming with real money Regulated Gaming in the event their casino properties' host state does regulate.
“The State of Pennsylvania appears to be in the process of regulating internet gaming with a number of legislative bills actively considered in 2016 of which derivative bills have been the subjects of legislative action in 2017 with the latest bill regulating real money Internet gaming being approved by the Pennsylvanian Senate just last week."
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