GAN PLC (LON:GAN) shares bounced on Friday following news of a strong surge in gambling market in the US state of New Jersey.

The AIM-listed gambling software specialist reported that in January gross revenues from internet sports wagering in the state had surged 200% year-on-year to US$46.7mln, while internet gaming win was up 64% at US$33.6mln.

READ: GAN doubles monthly sales from New Jersey online gaming

Total internet sports wagering handle, the amount of money accepted in wagers, was down month-on-month at US$471.1mln from US$488.9mln.

New Jersey is a key market for the company, which supplies internet gambling software to the US land-based casino industry.

Shares in GAN were up 4.1% at 178p in early deals.