GAN Provides Update on 2017 Year End Financial Results Highlighted by Positive EBITDA

GAN plc (“GAN” or the “Company”) a leading B2B supplier of Internet gaming enterprise software-as-a-service solutions to the US land-based casino Industry, provides an update on trading for the year ended December 31, 2017.

GAN performed in line with market expectations during the second half of 2017 in both its real money Regulated Gaming and Simulated Gaming activities due to the launch of several new clients, including the launch of the Overseas Internet Casino². During the period, the Company benefited from strict cost management and generated positive clean EBITDA¹ for the full year 2017. Furthermore, the outlook for 2018 remains positive due to continued growth in real money Regulated Gaming and Simulated Gaming.

Regulated Gaming

In Italy, growth in Net Revenue experienced during H1 has continued into H2 where the Company has benefitted from the seasonally strong Q4 period.

In New Jersey, GAN’s business continues to enjoy favourable market conditions and performed strongly in 2017. In H2 2017, GAN signed a multi-year agreement with AC Ocean Walk LLC which will be GAN’s second client for real money Regulated Gaming in New Jersey. AC Ocean Walk LLC is the newly-announced owner-operator of Ocean Resort Casino for the launch of a real money Regulated Gaming online experience offering Internet casino gaming together with Internet sports betting integrated with the on-property rewards program in reliance on GAN’s Patent³. This new Internet gaming destination is currently expected to launch in H1 2018 and will contribute materially to GAN’s revenue and earnings in H2 2018. Ocean Resort Casino in Atlantic City New Jersey is the substantial casino property formerly known as TEN/Revel Casino.

In Europe, the identity of GAN’s client for the Overseas Internet Casino² can now be confirmed as the major Native American US casino operator Chickasaw Nation. The Overseas Internet Casino launched for the Chickasaw Nation was delivered in H2 2017 and is now available in regulated European markets at www.WinStar.com.

In Pennsylvania, regulation of real money Internet gaming occurred on October 30, 2017. GAN has served Simulated Gaming to Pennsylvania’s market-leading land-based US casino Parx Casino with GAN’s GameSTACK™ enterprise gaming software platform installed on-property at Parx Casino since 2015 and is currently preparing to deliver real money Regulated Gaming upon commencement of the Pennsylvanian Internet gaming market anticipated later in 2018.