15 May 2018 09:10
LONDON STOCK EXCHANGE (LSE): GAN | IRISH STOCK EXCHANGE (ISE): GAME
Welcomes Legalization of US Internet Sports Betting
Confirms H2 launch of Internet sports betting in the US
London & Dublin | May 15, 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 welcomes the decision of the Supreme Court of the United States ("SCOTUS") to overturn the previous Federal US prohibition on sports betting enshrined with the Professional and Amateur Sports Protection Act 1992 ("PASPA").
The Company confirms it is preparing to launch Internet sports betting in both New Jersey and Pennsylvania for its clients in H2.
Sports betting will be delivered as an integrated extension into GAN's enterprise software platform and GAN will participate in the material incremental sports betting revenues. These incremental revenues are expected to be material for GAN in H2.
Management Commentary
Dermot Smurfit, CEO of GAN commented:
"GAN has been preparing for sports betting since Q4 2017 at the request of multiple US Clients who asked GAN to review, procure and support the delivery of sports betting solutions both online and for deployment in the retail channel in the event PASPA was overturned. We welcome yesterday's repeal of PASPA and confirm that sports betting will be material to GAN's revenues going forwards, commencing in the second half of 2018."
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 gaming 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 gaming enterprise software system, GameSTACK™, which it licenses principally to land-based US casino operators as a turnkey technology solution for both regulated real-money 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 Gaming in New Jersey; one (1) client of real money Regulated Gaming in Pennsylvania and ten (10) clients of real money Regulated Gaming in Europe.
The Internet Gaming System, developed in London under a UK Gambling Commission license, is certified to the highest technical standards currently required by gaming regulators. In January 2018 GAN announced a strategic partnership with SBTECH, a leading European B2B sports betting technology provider. 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.
For more information please visit www.GAN.com