1 Oct 2015 15:44
Statement re: Foxwoods Resort Casino Announcement
| ISE: GAME | LSE: GAME |
London & Dublin | 1 October 2015: GameAccount Network plc (“GAN” or the “Company”), a leading developer and supplier of enterprise-level Business to Business gaming software, notes the following announcement by Foxwoods Resort Casinos (“Foxwoods”) of 30 September 2015:
“Mashantucket Pequot Gaming Enterprise (MPGE) and GameAccount Network PLC (GAN) have mutually agreed to a managed exit from their relationship over a period of no less than six (6) months in reflection of the parties’ divergent commercial objectives in the United States. The parties have had a productive and mutually beneficial relationship highlighted by the power of the Foxwoods brand, the performance of GAN’s technology platform, and the strength of MPGE’s information technology and marketing operations.”
Consistent with the terms of the contract, GAN is engaged in negotiations with Foxwoods with respect to the mutual obligations of both parties under the contract.
As announced with GAN’s 2015 first half results, the growth opportunity in Simulated Gaming™ remains significant. There is strong demand for GAN’s product which is reflected in the pipeline of prospective customers with a number of exciting deals expected to be completed in the coming quarters. GAN commenced 2015 with just two clients of Simulated Gaming operating online and is confident of commencing 2016 with a total of seven clients offering this compelling Internet gaming experience to their patrons online.
www.GAN.com
For further information please contact:
| GAN | FTI Consulting | ||
| Dermot Smurfit | Jonathan Neilan/Melanie Farrell | ||
| Chief Executive Officer | |||
| +44 (0) 20 7292 6262 | +353 1 663 3686/3683 | ||
| dsmurfit@GAN.com | gan@fticonsulting.com | ||
| Davy | |||
| John Frain / Roland French | |||
| +353 1 679 6363 | |||
GAN | Overview
GAN is a leading developer and supplier of enterprise-level Business to Business gaming software systems and online gaming content. GAN is listed on the ESM Market of the Irish Stock Exchange and the AIM Market of the London Stock Exchange under the ticker: GAME. The Company has developed an Internet gaming enterprise software system, GameSTACK™, which it licences to online and land-based gaming operators as a turn-key technology solution for both regulated real-money and simulated online gaming. The Internet Gaming System, developed in London under a UK Gaming Commission licence, is certified to the highest technical standards currently required by gaming regulators. GAN is also a leading developer of online casino games and converts offline casino slot machines into online equivalents on behalf of third party land-based slot machine manufacturers.
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