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Launch of Internet Sports Betting for Parx Casino

28 June, 2019
 
 
 
LONDON STOCK EXCHANGE (LSE): GAN
 
GAN Launches Internet Sports Betting for Parx Casino
Pennsylvania’s largest casino is now online offering Internet sports betting
integrated with their on-property rewards program
 
London & Dublin - June 28, 2019: GAN plc (“GAN” or the “Company”), an award-winning developer and supplier of enterprise-level B2B Internet gambling 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 launched Internet sports betting in the Commonwealth of Pennsylvania and as of yesterday, is now available online 24/7  following a three-day soft launch period.
 
Parx Casino’s nominated third party sports betting application software provider KAMBI was integrated by GAN into the GAN Platform. Parx Casino patrons can also link their Reward Card online to their counterpart Internet gambling account, enabled by GAN’s U.S. patented integration framework. Internet casino gaming is expected to launch on July 15, subject to all requisite regulatory approvals.
 
Highlights
 
  • 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 on-property slot machines and table games, representing an 18% share of the Pennsylvania’s $3.2bn gaming market.
 
  • GAN’s US-patented technology enables 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.
 
Management Commentary
 
Dermot Smurfit, Chief Executive Officer of GAN commented:
 
“Following the launch in Pennsylvania earlier this week, GAN now offers clients a premium Platform equipped with multiple options for integrated Sports betting.  We look forward to pairing this seamlessly alongside GAN’s market-leading Internet casino product that utilizes our patented technology for leveraging on-property reward programs.
 
John Dixon, Chief Operating Officer of Greenwood Gaming & Entertainment, Inc commented:
 
“GAN has now ably demonstrated its abilities with both its overall Platform and sports betting integration capability. By leveraging GAN’s proven Platform, Parx Casino has rapidly deployed Internet sports betting, integrated with our XCLUB on-property rewards program, to become the second Internet sports betting operator to launch in the Commonwealth of Pennsylvania.”
 
Notes
1                 US Industry analyst Chris Grove of Eilers & Krejcik Gaming, LLC July 28, 2018
2                 Regulus Partners, an International gambling advisory group June 18, 2018
3                 Eilers & Krejcik Gaming, LLC | ‘Pennsylvania Gambling Expansion – Overview and Analysis’ November 8, 2017
 
About GAN Plc
GAN 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.  The Company has also launched digital user acquisition & retention marketing in support of the Internet Casino (https://casino.winstar.com) provided by GAN’s Digital Marketing Agency in Tel Aviv, Israel.
 
GAN is listed on the London Stock Exchange (LSE: GAN).
 
For more information please visit www.GAN.com.
 
For further information please contact:
 
GAN US Investors: The Equity Group
Jameson Wang Adam Prior
VP, Investor Relations & Analytics aprior@equityny.com
jwang@GAN.com
+1 (310) 384-1132
212.371.8660
  UK & Ireland Investors: Walbrook PR
  Paul Cornelius
  GAN@WalbrookPR.com
  +44 20 7933 8780
   
 
  Davy (Nominated Adviser, 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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