26 Nov 2018 07:00
LONDON STOCK EXCHANGE (LSE): GAN | IRISH STOCK EXCHANGE (ISE): GAME
Launch of Internet Gaming for Goldbet
9TH client launch cements GAN's position as the market leader in delivering Internet gaming content in Italy
London & Dublin | November 26, 2018: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gambling software and services, today announces the launch of Internet gaming content for GOLDBET Srl ("Goldbet") a leading Italian sports betting & casino gaming operator in Italy's regulated market.
Further to the announcement on April 17, 2018 announcing Goldbet as the Company's 9TH client in Italy, GAN has now integrated its Platform in Italy and launched internet gaming content for Goldbet. Goldbet operates a substantial network of more than 900 retail gambling shops accounting for approximately three per cent market share of Internet casino gaming in Italy.
Today, GAN delivers more than 500 high-quality casino slots, table games and non-traditional games in Italy to nine (9) Italian operators who together represent more than forty-five per cent of Italy's total Internet casino gaming market by Gross Gaming Revenue. Strong growth in the region resulted in revenues from Italy growing to £1.7m during H1 2018 (£1.2m H1 2017; £2.8m CY2017) accounting for just under 40% of GAN's net revenues and this latest launch further strengthens GAN's position as the country's leading independent Internet gambling software and services provider.
Management Commentary
Dermot Smurfit, CEO of GAN commented:
"GAN continues to win major clients in Italy by delivering an increasing number of high quality Internet casino games to our Italian clients, carefully procured from independent casino game design studios worldwide as well as major land-based casino equipment manufacturers. GAN's distribution reach now extends to nearly half of the regulated Italian Internet casino gaming market: We very much welcome the launch of Goldbet as our ninth operator client in Italy."
FAQ's about GAN's Italian real money online Regulated Gaming
· Internet gaming was effectively out-lawed in Italy until 2008 when legislation permitted Italy's existing retail & online sports betting operators to launch skill-based games online including Poker and traditional Italian card games played person-to-person. GAN launched its first Italian client SNAI SpA online in September 2008. Legislation permitting casino Table games passed in 2011 and casino Slots in 2013.
· GAN's client base in Italy comprises major retail gambling operators with counterpart Internet gambling operations. The ban in Italy on the advertising of gambling commenced in June 2018 and has been widely reported as negatively impacting online-only Italian operators of Internet gambling while favouring retail gambling operators.
· The Internet casino market in Italy averaged EUR 57.7m ($71.3m) in Gross Gaming based on the three (3) months of February 2018, January 2018 and December 2017 market share information reported by the Italian regulator AAMS. This was an increase of +31.3% Year on Year on the three (3) month average of EUR 44.0m ($49.4m) in February 2017, January 2017 and December 2016.
· There are sixty-nine (69) active operators of licensed Internet casino gaming in Italy. GAN's nine (9) clients, including Goldbet, represent in aggregate more than 45% of the Internet casino market in Italy based on the market share information reported by the Italian regulator AAMS.
For further information please contact:
GAN | US Investors: The Equity Group |
Dermot Smurfit | Adam Prior |
Chief Executive Officer | aprior@equityny.com |
+44 (0) 20 7292 6262 | 212.371.8660 |
dsmurfit@GAN.com |
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| UK & Ireland Investors: Walbrook PR |
| Paul Cornelius |
| GAN@WalbrookPR.com |
| +44 20 7933 8780 |
| Davy (Nominated Adviser, ESM Adviser and Joint Broker) |
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| John Frain / Barry Murphy |
|
| +353 1 679 6363 |
|
|
Liberum (Joint Broker) |
|
| Neil Patel / Cameron Duncan |
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| +44 (0) 20 3100 2000 |
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GAN | Overview
GAN is a leading B2B supplier of Internet gambling enterprise software-as-a-service solutions to the US land-based casino Industry. GAN is listed on the ESM Market of the Irish Stock Exchange and the AIM Market of the London Stock Exchange under the ticker: GAN
The Company has developed an Internet gambling enterprise software system, GameSTACK™, which it licenses principally to land-based US casino operators as a turnkey technology solution for regulated real-money Internet gambling encompassing Internet gaming & Internet sports betting and/or virtual Simulated Gaming.
GAN has fourteen (14) casino operators as clients of Simulated Gaming coast-to-coast across the US and Internationally; two (2) clients of real money Regulated Gambling in New Jersey; one (1) client of real money Regulated Gambling in Pennsylvania and ten (10) clients of real money Regulated Gambling in Europe.
The Internet Gambling System, developed in London under a UK Gambling Commission license, is certified to the highest technical standards currently required by gambling regulators. In April 2017 GAN was granted a Casino Service Industry Enterprise license by the New Jersey Division of Gaming Enforcement being GAN's first privileged gaming license in the United States. In May 2018, the US Supreme Court repealed PASPA and GAN confirmed the H2 launch of sports betting for US clients integrated into GAN's enterprise software platform. In September 2018 GAN launched Internet sports betting in New Jersey, available as an integrated option alongside Internet gaming.
For more information please visit www.GAN.com