1. New Jersey Online Gambling Revenue
2. New Jersey Internet Gambling Revenue
3. New Jersey Internet Gambling Revenue

LONDON--(BUSINESS WIRE)--GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading business-to-business supplier of internet gambling software-as-a-service solutions primarily to the U.S. land-based casino industry, today updated the market following the publication on May 13, 2020, by New Jersey’s Division of Gaming Enforcement (“DGE”) of Internet gaming and Internet sports betting financial information for the calendar month of April 2020 in New Jersey.

New Jersey Online Gambling Revenue

How much money does the gambling industry make? According to the latest online gambling statistics, in New Jersey, the annual gross gaming revenue generated was $323,332,204 in 2018. That number was up from $266,851,688 in 2017, displaying a 21% year-over-year increase in revenue. How much money is gambled every year? The November online gambling revenue reached close to $27 million – $14 million of which came from NJ sports betting sites, the NJ Division of Gaming Enforcement reports. In 2017 the New Jersey online gambling industry had revenues of total $245.6 million, which has already been surpassed by this years number, with one month left of this year. The state has taken in $194.1 million of revenue with $22.6 million of taxes collected as of May 31, according to figures released June 12 by New Jersey’s Division of Gaming Enforcement.

Highlights from the DGE include:

• Internet Gaming Win was $80.0 million in April, compared to $36.6 million in the prior year period, reflecting a year-over-year increase of 118.6%.
• Total Internet Sports Wagering Handle⁽¹⁾ was approximately $54.6 million for the month of April, a significant decrease from prior months as the result of most sporting events being canceled during the global COVID-19 pandemic, which compares to:
  • $163.4 million for the month of March 2020;
  • $436.5 million for the month of February 2020; and
  • $471.1 million for the month of January 2020.

• Internet Sports Wagering Gross Revenues⁽²⁾ (after payouts) for the month of April were $2.7 million, compared to $16.6 million in April 2019, and is further comparable to:
  • $13.3 million for the month of March 2020;
  • $15.9 million for the month of February 2020; and
  • $46.7 million for the month of January 2020.

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 Limited

GAN is a leading business-to-business supplier of internet gambling software-as-a-service solutions predominantly to the U.S. land-based casino industry. GAN has developed a proprietary internet gambling enterprise software system, GameSTACK™, which it licenses to land-based casino operators as a turnkey technology solution for regulated real-money internet gambling, encompassing internet gaming, internet sports gaming and virtual Simulated Gaming.

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