Online gaming technology provider GAN says it recorded its first ever ‘clean’ earnings in the first half of 2017 following significant investment in the US casino market.

On Thursday, GAN released its H1 earnings report, which showed gross revenue of £18.6m in the first six months of 2017, up 17% from the same period last year. Net revenue gained 6% to £4.1m but the company still booked a net loss of £2m, although that’s an improvement over the £2.3m GAN lost in H1 2016.

GAN (formerly known as GameAccount Network) chose to celebrate its maiden ‘clean’ earnings – basically, a non-GAAP measure that takes regular EBITDA and subtracts all items the company considers non-recurring one-offs – of £24k versus a £500k loss in H1 2016.

Nearly two-thirds of GAN’s H1 revenue came via the US market, which is primarily driven by brick-and-mortar casinos signing up for GAN’s Simulated Gaming online free-play casino, although GAN does supply real-money gambling technology to Betfair’s New Jersey-licensed gambling site.