GAN Announces New Tier One Client Churchill Downs in Multistate Roll-out of Real Money Internet Gambling

GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading business-to-business supplier of internet gambling software-as-a-service solutions to the U.S. land-based casino industry, today announced a multi-year agreement with Churchill Downs Incorporated (“Churchill”) (NASDAQ: CHDN) to be the enterprise software platform for Churchill’s Internet sports betting and Internet casino gaming business, BetAmerica.

This new client relationship will position BetAmerica to participate in Internet sports betting markets where permitted by leveraging GAN’s U.S.-optimized enterprise software. BetAmerica currently manages sportsbooks in New Jersey, Pennsylvania, Indiana, Mississippi and Arkansas.

Due to the expansive range of Churchill’s retail gambling assets in the U.S., combined with its existing market access agreements for Internet gambling, GAN classifies Churchill as a “tier one” operator client.

Together with a market-leading range of Internet casino games developed by and/or aggregated from third parties, GAN will publish third-party sports betting content procured from Kambi, a global leader in sports betting content that is currently integrated into GAN’s platform and made available to clients.

Dermot S. Smurfit, Chief Executive Officer of GAN, commented:

“We look forward to powering the BetAmerica brand with our highly optimized technology platform and enabling CDI to efficiently invest their marketing capital to attract loyal sports betting and iGaming players.”

Bill Carstanjen, Chief Executive Officer of Churchill Downs Incorporated, commented:

“We believe the transition to GAN and Kambi as our new technology providers will enable our team to execute the rollout of BetAmerica sportsbooks and iGaming product offering more efficiently as states move to legalize and implement regulations permitting sports betting and iGaming in the coming years. BetAmerica will benefit from the proven excellence of these market-leading providers.”

Forward-Looking Statements

This press release contains forward-looking statements that are subject to the safe harbors created under federal securities laws. Words such as “anticipate,” “believe,” “expect,” “intend,” “may,” “will,” and similar expressions are intended to identify forward-looking statements. The forward-looking statements in this press release include, without limitation, statements regarding the rollout of BetAmerica product offerings and the implementation by states of regulation permitting online sports betting and iGaming. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. GAN undertakes no obligation to update or revise any forward-looking statements for any reason, except as required by law.

About GAN Limited

GAN is a leading business-to-business supplier of internet gambling software-as-a-service solutions to the U.S. land-based casino industry. GAN has developed a proprietary internet gambling enterprise software system, GameSTACK™, which it licenses principally to land-based U.S. casino operators as a turnkey technology solution for regulated real-money internet gambling, encompassing internet gaming, internet sports gaming and virtual Simulated Gaming.

About Churchill Downs Incorporated

Churchill Downs Incorporated is an industry-leading racing, online wagering and gaming entertainment company anchored by its iconic flagship event - The Kentucky Derby. CDI owns and operates Derby City Gaming, a historical racing machine facility in Louisville, Kentucky. CDI also owns and operates one of the largest online horse racing wagering platforms in the U.S., TwinSpires.com, and operates sports betting and iGaming through its BetAmerica platform in multiple states. CDI is also a leader in brick-and-mortar casino gaming with approximately 11,000 slot machines and video lottery terminals and 200 table games in eight states. Additional information about CDI can be found online at www.churchilldownsincorporated.com.

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Investor: GAN Jack Wielebinski Head of Investor Relations [phone] [e-mail] The Equity Group Adam Prior [phone] [e-mail] Carolyne Sohn [phone] [e-mail]