GAN PLC GAN Receives New Jersey CSIE License Award (6311C)

TIDMGAN

RNS Number : 6311C

GAN PLC

18 April 2017

GAN plc

LONDON STOCK EXCHANGE (LSE): GAN | IRISH STOCK EXCHANGE (ISE): GAME

GAN Receives New Jersey CSIE License Award

Company granted privileged Casino Service Industry Enterprise license from the New Jersey Division of Gaming Enforcement

London & Dublin | April 18, 2017: 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 announces the grant of its first privileged gaming license in the US issued to GAN by the New Jersey Division of Gaming Enforcement ("NJDGE"). This establishes the suitability of GAN, its major shareholders, directors and key employees to conduct regulated Internet gaming business in New Jersey. In parallel, this important milestone strongly positions GAN to obtain licenses in other US States which may elect to regulate real money Internet gaming in the future.

GAN submitted an initial license application in 2013 and has supported the NJDGE in undertaking customary and necessary investigations into GAN's current and historic business activities, major shareholders, directors and key employees.

Management Commentary

Dermot Smurfit, CEO of GAN commented:

"We have long maintained that a key benefit of choosing GAN is the guaranteed integrity and strong compliance profile of our current and historic business activities, clean source of investment funds and the unquestioned suitability of our major shareholders, directors and employees to be licensed in New Jersey. Here is the proof of those long-standing statements. GAN has been thoroughly and professionally investigated by the NJDGE and we welcome the grant of our first privileged gaming license in the United States. In the heavily regulated world of Internet gaming, the significance of this gaming license cannot be underestimated and is a major asset for our Company and will deliver our shareholders significant value over time."

FAQ's about GAN's real money online Regulated Gaming

   --     GAN is among the first B2B technology providers to secure a CSIE license in New Jersey. 

-- Launched in the US by Betfair on GAN's technology platform in November of 2013 www.BetfairCasino.com has established itself as one of the most successful independent Internet casino operators in New Jersey and publicly reports its Internet gross gaming revenues each month under the Golden Nugget Atlantic City casino license.

-- Regulated real money Internet gaming in New Jersey achieved $21.75m in Gross Gaming Revenue in March 2017, up +40% compared to this time last year. In 2016, New Jersey's Internet gaming market generated total Gross Gaming Revenues was $197m, an +32% increase from $149m in the prior year 2015.

-- Industry analysts and press reports widely predict the regulation of Internet gaming in New Jersey's neighbouring State of Pennsylvania where GAN has secured the #1 'brick & mortar' gaming operator, Parx Casino, as a client in the event Pennsylvania does proceed to regulate Internet gaming. The population of Pennsylvania is approximately +43% larger than the population of New Jersey and Internet gaming could commence in early 2018 in the event enabling legislation is passed in Pennsylvania on or before June 30, 2017.

www.GAN.com

For further information please contact:

 
           GAN                Investors: The Equity 
                                       Group 
     Dermot Smurfit                 Adam Prior 
 Chief Executive Officer       [e-mail] 
  [phone]     Main telephone: [phone] 
    [e-mail] 
 
 
         Davy 
  John Frain / Roland 
         French 
    [phone] 
 

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: GAN

The Company has developed an Internet gaming enterprise software system, GameSTACK(TM), which it licenses 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 Gambling Commission license, is certified to the highest technical standards currently required by gaming regulators.

GAN is also a leading developer of proprietary online games with a complementary business converting offline casino slot machines and table games into online equivalents on behalf of major land-based slot machine manufacturers including Aristocrat, Ainsworth, KONAMI, Everi (formerly Multimedia Games), Incredible Technologies, GamoMat, Reel Time Gaming, High Flyer Games and Scientific Games (via DEQ Systems Corp).

GAN has an established business in Europe, licensing gaming content to major European gaming operators including Bet365, Betfair PaddyPower, William Hill, Rank, Lottomatica, Sisal and SNAI.

In the United States for real money Internet gaming, GAN has partnered with Betfair Plc to provide its Internet Gaming System following the introduction of regulated real-money online gaming in New Jersey in November 2013.

In the United States for Simulated Gaming(TM), GAN has partnered with an increasing number of major land-based US casinos coast-to-coast. In New York, GAN has launched a Simulated Gaming(TM) website via www.EmpireCityCasino.com in September 2014. In Pennsylvania, GAN launched a Simulated Gaming(TM) website www.ParxOnline.com in March 2015. In March 2015 Maryland Live! Casino in Maryland chose GAN to upgrade their existing free-to-play website to a monetized Simulated Gaming(TM) website, soft-launched in July 2015 and launched integrated with their casino management system in November 2015. In September 2015 major Californian Tribal casino operator San Manuel chose GAN's Simulated Gaming(TM) launched in November 2015. In October 2015 American Casino & Entertainment Properties (ACEP) chose GAN's Simulated Gaming(TM) launched in December 2015. In December 2015 Borgata Casino Hotel & Spa chose GAN's Simulated Gaming(TM) launching in H1 2017. Also in December 2015 Lady Luck Interactive, a wholly-owned subsidiary of Isle of Capri Corporation, chose GAN's Simulated Gaming(TM) and launched in July 2016. In February 2016 Rock Gaming (re-branded as JACK Entertainment) chose GAN's Simulated Gaming(TM) to support their Ohio-based casino properties launched online in October 2016. In March 2016 Twin River in the North East chose GAN's Simulated Gaming(TM) and launched in November 2016. In April 2016 major Tribal casino operator Chickasaw Nation chose GAN's Simulated Gaming(TM) launching in H1 2017. In June 2016 Tribal casino operator TurningStone Casino Resort chose GAN's Simulated Gaming(TM) and launched in March 2017. In July 2016 Nevada's Station Casinos chose GAN's Simulated Gaming(TM) launching in H1 2017. In September 2016 a major existing US casino client nominated GAN to launch real money Internet casino gaming in Europe and other Rest of World regulated markets commencing in H1 2017.

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.

For more information please visit www.GAN.com

This information is provided by RNS

The company news service from the London Stock Exchange

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April 18, 2017 10:54 ET (14:54 GMT)