21 Dec 2018 07:00
LONDON STOCK EXCHANGE (LSE): GAN | IRISH STOCK EXCHANGE (ISE): GAME
GAN Announces Partnership with Major European Slot Manufacturer, SYNOT
London & Dublin | December 21, 2018: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today announced the signing of a material long-term deal with Czech Republic-based slot machine and gaming technology manufacturer, SYNOT with a contract value in excess of £400,000 ($500,000).
SYNOT is a major manufacturer of physical gaming machines and designer of diverse gaming software, with gaming business activities across Europe, Asia and Africa. Under the terms, GAN will distribute six SYNOT-designed premium casino games, including their flagship slot title, "Alchemist's Gold", to the US market through GAN's proprietary 'GameSTACK' Internet Gambling Platform (IGS). The multi-year deal includes paid-for development fees and ongoing revenue-share participation throughout the term. All games are expected to be launched and fully functional by the end of 2019 and will be released as both Simulated Gaming and Real Money Gaming titles contingent on US regulatory State laws.
Management Commentary
Dermot Smurfit, CEO of GAN commented:
"We are excited to begin working with SYNOT and look forward to bringing their successful European slot titles to select US markets. The deal solidifies GAN's US market position as a viable route for international and domestic gaming companies to gain immediate access to the new and fast-growing regulated US online gaming market. We expect full US-integration of all 6 SYNOT titles to be completed by the end of 2019 and expect material impacts to GAN's 2019 EBITDA and revenue in the same period."
About GAN Plc
GAN is a leading business-to-business ("B2B") supplier of internet gambling software-as-a-service solutions ("SaaS") to the US land-based casino industry. The Company has developed a proprietary 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 gaming and virtual Simulated Gaming.
GAN is listed on the London Stock Exchange (LSE: GAN) and on the Irish Stock Exchange (ISE: GAME).
For more information please visit www.GAN.com.
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 |
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| +353 1 679 6363 |
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Liberum (Joint Broker) |
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| Neil Patel / Cameron Duncan |
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| +44 (0) 20 3100 2000 |
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