Developer and supplier of software systems and gaming content for the international online gambling industry GAN plc today announced that a leading US casino operator has selected the company to launch together an international real-money online casino and accompanying mobile application.
GAN said that its latest partnership is an opportunity for the company to further extend its reach across the US land-based casino environment and to expand it into the international online gambling industry.
The unnamed casino operator is an existing GAN client. Under a seven-year agreement, the supplier and its partner will launch an overseas gambling website that will be aimed at entering various European and non-European gambling markets. The new online casino and its mobile app are expected to be rolled out in the first half of 2017.
GAN said in a statement that once launched, the new website will be integrated with the gambling operator’s on-property rewards program. This will be the first gambling website to be intended for overseas customers but to be tied to a US casino rewards program.
GAN was selected to join the major project after a comprehensive due diligence process. Thus, the company will be able to provide its partner with its casino management software and real-money gaming content. Under the seven-year contract with its client, the major supplier will be paid an upfront cash payment of $1.4 million, once the necessary regulatory approval are granted and the customary due diligence process is completed. In addition, GAN will have a material participation in the net income generated by the new online casino.
Commenting on the latest announcement, GAN CEO Dermot Smurfit said that being well-positioned in the New Jersey online gaming market, they expect it to perform equally well across Europe and its regulated markets. The executive further noted that the supplier’s products are anticipated to contribute substantial material revenue and earnings to its US casino partner, starting from the first half of the year.
As mentioned above, GAN will receive a considerable cash payment for the divestment of its B2C assets, with the money to be paid before the end of the year. After divesting the said assets, the company will only focus its attention on the provision of B2B services.
