StockMarketWire.com - GAN said Monday that it was 'confident' it would deliver on full year guidance following strong trading conditions and lower Pennsylvanian licensing costs.

Gan expected mid-to-high double-digit percentage year on year revenue growth in 2019 and full year positive earnings (EBITDA), based on the current fixed cost base. 'The Board does not anticipate any additional capital requirement on the current business plan and the Company is therefore fully funded.'

The upbeat note comes as the company said it expected the the Internet gambling market in Pennsylvania to commence in Summer 2019.

Gan was approved as an Interactive Gaming Manufacturer on March 6 by the Pennsylvania Gaming Control Board. This license was GAN's second gaming license in the US following the receipt of a full Casino Service Industry Enterprise license in the neighbouring State of New Jersey in April 2017.

Gan's Pennsylvania licensing fee of $10,000, which was now due, was significantly lower than the company's previous expectations for $1m in direct licensure costs for delivering interactive gaming services to clients in Pennsylvania.

Gan also confirmed it had extended its relationships with Greenwood Gaming & Entertainment, trading as Parx Casino.

Parx intended to offer Internet sports betting and casino gaming in the State of New Jersey subject to approval by the relevant NJ regulatory authority, as well as in the State of Pennsylvania as previously announced on July 30, 2018 with commercial launch expected in 2019, the company said.


At 8:53am: [LON:GAN] GAN Plc share price was +5.5p at 50.5p



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