GAN says 2017 performance to date in line with its expectations

GAN said 2016 was a year of investment for the company and that performance to date in 2017 was in line with its expectations.

The B2B supplier of internet gaming enterprise software-as-a-service solutions to the US land-based casino industry posted a pre-tax loss for the year of £5.2m, from a wider loss of £5.6m.

Gross income from gaming operations and services rose to £31.7m, against £25.8m in the same period for 2015.

Chief executive Dermot Smurfit said 2016 had "continued the period of investment for GAN, and, performance to date in 2017 is in line with our expectations."

He said GAN's investment in the business continued and it had grown itsteam and expanded its technical expertise, US infrastructure and gaming content portfolio throughout 2016.

"Consistent with earlier statements, the US patent awarded to GAN in September 2015 has served to provide material benefit to the Simulated Gaming business as we grew in the US market in 2016," said Smurfit in a statement.

GAN remained confident in its prospects for 2017 and beyond.

At 12:39 BST, shares in AIM-traded GAN were flat at 26.5p each.