GAN Announces Favorable Trading Update for FY 2019
Summary
LONDON--(BUSINESS WIRE)--GAN plc (“GAN” or the “Company”), an award-winning developer and supplier of enterprise-level B2B Internet gambling software, services and online gaming content in the United States, today provided a trading update ahead of its preliminary results for the year ended December 31, 2019 (FY 2019). Trading was ahead of expectations as a result of the following factors: Later today, being January 31, 2020, GAN plc expects to file the required F-1 filing to the U.S. Securities Exchange Commission (“SEC”), formally initiating the U.S. listing process and ultimately seeking admission to trading on NASDAQ as a Foreign Private Issuer as soon as reasonably practical. As a result of this U.S. listing process, and associated SEC compliance obligations relating to forward-looking statements, no outlook can be provided at this time. Our intellectual property and technical expertise put us at the forefront of the Internet sports betting and casino gaming market as demonstrated by our diverse and expanding client base. Our recent new client announcements, continued focus on acquiring additional new clients and expectations for further real money Internet gambling legislation to pass in new States in the U.S. set the stage for 2020 to be yet another very exciting year.” 1 Clean EBITDA is a non-GAAP Company specific measure and excludes interest, tax, depreciation, amortisation, share based payment expenses and other items which the directors consider to be non-recurring and one time in nature.