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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Gan Plc | LSE:GAN | London | Ordinary Share | GB00BGCC6189 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 225.00 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
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 the FanDuel Group (“FDG”) to be FDG’s Platform for rapid deployment of Internet casino, and account services for Internet sports betting in Pennsylvania (pop. 13M) and West Virginia (pop. 1.8M), in addition to the existing services provided since 2013 by GAN to FDG in the State of New Jersey (pop. 9M).
This expanded contract represents a material increase in the value of the partnership to GAN across revenue share, professional services and patent licensing fees.
As part of the contract expansion FDG has agreed to license GAN’s US Patent. GAN’s patented technology allows land-based casino patrons enrolled in on-property loyalty programs to link existing loyalty cards to Internet gambling accounts and receive loyalty points in exchange for online gambling. Linking of patrons’ loyalty cards is proven to greatly enhance online engagement by US casino patrons as well as substantially increasing lifetime value realized online through increased monetization and retention. Management believes that the recognition of GAN’s US Patent significantly underpins GAN’s intangible asset value and could potentially lead to further client partnerships and US Patent licensing revenue opportunities
Deal Highlights
Management Commentary
Dermot Smurfit, CEO of GAN commented:
“The contract extension combined with US Patent licensing represents a significant milestone in GAN’s US evolution and reinforces our view that in the heavily regulated US online gambling market, effective and compliant ‘platforms’ are a premium component of the supply chain rather than a commodity. GAN is therefore very well placed to capitalize on the growth in US online gambling markets in terms of new operator clients, new States and underlying growth momentum.”
About GAN PlcGAN 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190109005757/en/
GANDermot SmurfitChief Executive Officer+44 (0) 20 7292 6262dsmurfit@GAN.com
US Investors: The Equity GroupAdam Prioraprior@equityny.com212.371.8660
UK & Ireland Investors: Walbrook PRPaul CorneliusGAN@WalbrookPR.com+44 20 7933 8780
Davy (Nominated Adviser, ESM Adviser and Joint Broker)John Frain / Barry Murphy+353 1 679 6363
Liberum (Joint Broker)Neil Patel / Cameron Duncan+44 (0) 20 3100 2000
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