GAN was formerly known as GameAccount Network, and decided to change its name in 2016. The company supplies turnkey online casino and sports wagering solutions. According to its website, it is the number one online gaming platform in America. Normally, companies call themselves ‘leading’ as it’s not quantifiable, but in this instance, we have a company claiming to be top dog. Whether it’s true or not, is another story. 

The GAN product suite consists mainly of its “core GameSTACK™ IGS platform, CMS-to-IGS loyalty integration, an unrivaled [sic] back office, and a complete casino in the palm of your hand.”


On 24 May 2018, the Supreme Court of the United States lifted the federal ban on sports betting. 

The decision was made during London Stock Exchange trading hours, and many gambling stocks immediately started moving on increased volume.


888 surged double digits, which was way in excess of the average range.


GVC saw a rise, with a brief period of taking profit, before a continued rise.


Gamesys, or Jackpot Joy as it was then known, also responded in earnest. A whole new frontier had just opened up for gambling, and the prospects and future cash flows of these businesses were instantly changed with one swift decision to lift the federal ban on sports betting.

It also shows that the market is just not efficient. If it was, then these stocks would’ve instantly gapped up into an auction. But they didn’t. It took people time to work out why the stock was moving, and those who were on the ball following the US Supreme Court’s decision cleaned up shop.

Naturally, smaller businesses saw bigger rises than others, due to the feedback effect often seen in illiquid stocks. A stock begins to rise, and punters begin to jump on, causing the price to spike. As the stock keeps rising, it confirms that there is a reason for the rise, and so others jump on too! This is further exacerbated by the market makers who may be forced to deal several times their usual average volume in the space of a few minutes, and so they raise their bid in order to flush sellers. This of course only encourages momentum traders to jump on…

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