GAN to deliver Sports betting for Parx Casino via its award-winning Platform
Multiyear partnership extension includes delivery of Sports betting in both Retail and Online channels for Pennsylvania's largest casino, a material increase in revenue opportunity
London & Dublin | July 30, 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 announces that GAN and Greenwood Gaming & Entertainment, Inc. trading as 'Parx Casino' ("Parx Casino") have executed a material contract to offer Sports betting in both the retail and online channels in the Commonwealth of Pennsylvania. Parx Casino's nominated third party sports betting application software provider will now be integrated by GAN with launch expected in H2 2018.
On July 16, 2018 GAN announced that Parx Casino had filed a petition with the Pennsylvania Gaming Control Board ("PGCB") confirming Parx Casino's intention to launch Internet gaming online in the State of Pennsylvania and identifying GAN as their enterprise software Platform provider.
· GAN will participate in the incremental Sports betting revenues generated both in the Retail channel (i.e. on-property within the casino) and in the Online channel.
· Multi-year contract extension secured, proving the strategic merit of developing Simulated Gaming with US casino operators in advance of real money intra-State regulation
· Pennsylvanian regulated Retail Sports betting is forecast to generate in excess of $100m1 in gross win in the first 12months and Internet Sports betting is forecast to generate a further $189m2 in the same period, in addition to the Pennsylvanian regulated Internet Gaming market forecast to generate $200m3 in gross gaming revenue online during the first twelve months of operation.
· Parx owns and operates the #1 land-based casino property in Pennsylvania located a short distance from Philadelphia, Pennsylvania's largest City. In the most recent fiscal year ended June 30, 2018 Parx Casino generated $570m from slot machines and table games on-property representing a 18% share of the Pennsylvania's $3.2bn gaming market.
· GAN's US-patented technology will enable Parx Casino patrons enrolled in the on-property loyalty program, to sign up online and instantly link their reward cards to their online account permitting those guests to trade in their reward points earned from on-property gaming for cash online and/or to earn rewards points from Internet gaming and/or sports betting, to be subsequently redeemed on-property.
Jeff Berman, Chief Commercial Officer of GAN commented:
"Following the execution of this extension and amendment, GAN now offers clients a Platform equipped with multiple options for integrated Sports betting to be launched seamlessly alongside GAN's market-leading Internet casino product. We welcome the opportunity to deliver Sports betting in the retail channel, as well as online, through GAN's unique Platform containing patented technology."
John Dixon, CTO of Greenwood Gaming & Entertainment, Inc commented:
"GAN has ably demonstrated it abilities with both its overall Platform and its integration capability for existing major clients. By leveraging GAN's Platform, Parx Casino will have the opportunity to launch retail and online Regulated Sports betting together with online Gaming in Pennsylvania later this year, subject to the regulatory approval of the PGCB."