GAN highlights growth in New Jersey gambling market

Gambling software provider GAN updated the market on Friday, following the publication of internet gaming and internet sports betting financial information for the calendar month of January in New Jersey by the state’s Division of Gaming Enforcement.

The AIM-traded firm said the official statistics showed ‘internet gaming win’ was $33.6m in January, compared to $22m in the prior year period, reflecting a year-over-year increase of 53.0%.

Total ‘internet sports wagering handle’ was around $305m for the month, which the firm described as a “significant increase” from $241m in December 2018 and $238.6m in November.

Internet sports wagering gross revenues after payouts were $15.5m, compared to December's $14.7m and November's $14.5m.

“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,” the company’s board explained in its statement.