GAN plc, a provider of sports and casino gaming software, reported that revenue more than doubled in the first half of 2019 as online sports betting surged in the U.S.

The London-based firm swung a profit of 12 cents a share (0.01 British pounds) during the first half, compared with a year-ago loss of 50 cents (0.04 British pounds) in the year-ago period. 

Revenues surged 145% to $14 million (11.3 million British pounds) from $5.7 million ($4.6 million pounds) a year ago.

In a presentation to investors, the company reported 10 times more active gamblers on the NFL's opening Sunday schedule than a year ago. 

"The first half of 2019 saw rapid growth in revenues driven by real money Internet gambling in the U.S. and the accelerating adoption of Internet sports betting by numerous states," Dermot Smurfit, CEO of GAN, said in a company release. "We're pleased to offer real money Internet gambling across four websites (and counterpart mobile apps) to end users in two U.S. states operated by three clients reliant on our technology platform for powering their Internet gambling business activities."

He said the company's balance sheet has improved significantly and the company plans to selectively grow development resources in Las Vegas and Sofia, Bulgaria, in order to capture incremental revenue from sports betting and online gaming as other states are expected to legalize those activities. 

Smurfit said the company has a positive outlook for the remainder of 2019, citing its recent expansion into Pennsylvania with sports betting and casino gaming, as well as a strong sales from existing clients. 

The company told investors that it plans to seek a public listing in the U.S. by 2020. 

Cover image: Courtesy of FanDuel