B. Riley Securities 2021 Vision Day
January 28, 2021
GAN | B. Riley Conference | January 28, 2021
Forward Looking Statement and Legal Disclaimer
This presentation has been prepared by GAN Limited (the "Company") solely for informational purposes based on its own information, as well as information from public sources. This presentation has been prepared to assist interested parties in making their own evaluation of the Company and does not propose to contain all of the information that may be relevant. In all cases, interested parties should conduct their own investigation and analysis of the Company and the data set forth in the presentation and any other information provided by or on behalf of the Company.
Except as otherwise indicated, this presentation speaks as of the date hereof. The delivery of this presentation shall not, under any circumstances, create any implication that there has been no change in the affairs of the Company after the date hereof.
Certain of the information contained herein may be derived from information provided by industry sources. The Company believes that such information is accurate and that the sources from which it has been obtained are reliable. The Company cannot guarantee the accuracy of such information and has not independently verified such information.
This presentation contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as "may," "might," "should," "could," "predict," "potential," "believe," "expect," "continue," "will," "anticipate," "seek," "estimate," "intend," "plan," "strive," "projection," "goal," "target," "outlook," "aim," "would," and "annualized" or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectation, estimates and projections about our industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, estimates and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements.
This presentation includes certain non-IFRS financial measures intended to supplement, not substitute for, comparable IFRS measures. Reconciliations of certain non-IFRS financial measures are provided in the appendix to this presentation.
This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.
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GAN | B. Riley Conference | January 28, 2021
GAN Leadership Team
Confidential - Not for Distribution | 2Pg. 3 |
GAN | B. Riley Conference | January 28, 2021
Key Investment Highlights
Confidential - Not for Distribution | 2Pg. 4 |
GAN | B. Riley Conference | January 28, 2021
GAN's Technology: Best-in-Class B2B Platform
Superior end-to-end solution for an operator's online gaming operations: modular platform, IP, conversion
funnel and analytics framework provide a competitive advantage
Confidential - Not for | 2Pg. 5 |
GAN | B. Riley Conference | January 28, 2021
COOLBET Acquisition: Our Strategic Rationale
COOLBET's sportsbook technology provides the missing piece of GAN's B2B technology stack for a fully-
integrated offering, customizable at client discretion
Confidential - Not for Distribution | 2Pg. 6 |
GAN | B. Riley Conference | January 28, 2021
State of the Union - Legislation Momentum
GAN will be better positioned to capitalize on the expanding group of US states regulating both sports betting and iGaming with the acquisition of COOLBET
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GAN | B. Riley Conference | January 28, 2021
Putting the "GAN" in Michigan
Michigan is slated to be one of the largest RMiG opportunities in the U.S. with $1.2B of GOR at maturity and will be a key SaaS revenue growth driver for GAN in 2021
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GAN | B. Riley Conference | January 28, 2021
'Big Bang' Market Commencement in Michigan
Successful commercial launch of three B2C Operators in Michigan on January 22, 2021 at 12noon ET
Michigan =
17x New Jersey2
18x Indiana
133x Pennsylvania
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GAN | B. Riley Conference | January 28, 2021
Why GAN Needs to Own A Proprietary Sportsbook
Additional margin capture opportunity for GAN with a single-source solution that also allows our operator customers to differentiate their entertainment offering
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GAN | B. Riley Conference | January 28, 2021
COOLBET Differentiators
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GAN | B. Riley Conference | January 28, 2021
COOLBET Solves GAN's Need for a Proprietary Sportsbook Engine and for Geographic Diversification
Best of Breed Sportsbook Technology Proven to Operate at Scale and Comes With a Growing and Sustainable International B2C Business to Self-Fund Continued Product Development
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GAN | B. Riley Conference | January 28, 2021
COOLBET's Outsized B2C Revenue Growth Validates Organic Customer Acquisition and Retention Model
Y-o-Y Revenue Growth for 9 Month Period ended September 30th, 2020
(1)
(1) | |||||||||||||||||||
(1) | |||||||||||||||||||
-25% | -20% | -15% | -10% | -5% | 0% | 5% | 10% | 15% | 20% | 25% | 30% | 35% | |||||||
Source: Public Company Filings. | Confidential - Not for Distribution | 2Pg. | |||||||||||||||||
(1) Growth based on year-on-year for the 9 months ended June 30th, 2020. | 13 |
GAN | B. Riley Conference | January 28, 2021
COOLBET Leadership Team: Retaining Talent to help withU.S. Integration and Global Expansion Talented team of professionals with deep technical expertise and knowledge of international markets
Confidential - Not for Distribution | 14 |
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GAN | B. Riley Conference | January 28, 2021
International B2B and B2C Playbook
(1) Data from Peru not included which launched in Nov. 2020
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GAN | B. Riley Conference | January 28, 2021
GAN's B2B Offering Improves Dramatically with the Integration of COOLBET
GAN will become a more complete and flexible solution for operators domestically and internationally with its expanded offering
Confidential - Not for | 2Pg.16 |
GAN | B. Riley Conference | January 28, 2021
Transaction Multiples, Sources/Uses and Pro Forma Capitalization based on EUR 149 Million Purchase Price
Confidential - Not for Distribution | 17 |
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GAN | B. Riley Conference | January 28, 2021
Unaudited Pro Forma Financial Summary
Confidential - Not for Distribution | 18 |
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GAN | B. Riley Conference | January 28, 2021
Conclusion
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Appendix
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GAN | B. Riley Conference | January 28, 2021
Financial Reconciliation: GAN Adjusted EBITDA
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GAN | B. Riley Conference | January 28, 2021
Financial Reconciliation: COOLBET Adjusted EBITDA
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GAN | B. Riley Conference | January 28, 2021
Financial Reconciliation: Pro Forma Adjusted EBITDA
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GAN Ltd. published this content on 28 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 January 2021 20:35:02 UTC.