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GAN and Paddy Power Betfair expand US collaboration

Thu, 10th Jan 2019 10:12

(Sharecast News) - Gambling software provider GAN has signed an extension to its long-standing partnership with Paddy Power Betfair in the US.The Irish group will provide the platform for PPB's US business, FanDuel, to quickly get its internet casino and sports betting up and running in Pennsylvania and add internet sports betting in West Virginia.FanDuel has also agreed to license GAN's US patented technology that allows bricks and mortar casino punters to link their existing loyalty cards to internet gambling accounts and receive loyalty points in exchange for online gambling.GAN will receive an initial cash payment from PPB and represents a "material increase in the value of the partnership to GAN across revenue share, professional services and patent licensing fees".The contract is for five years and offers the potential for FanDuel to take GAN into further US States as they adapt their regulation after the US Supreme Court's decision to open up the market last year.This deal underpins our FY19 revenue forecast of £19m and our Target Price of 85p and we will review both when the company provides a trading update for the Financial Year to December'18 in the next few weeks.CEO Dermot Smurfit said: "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."PPB and GAN have been collaborating since 2013, first launching launch www.betfaircasino.com and later establishing an internet casino in New Jersey.Last September, FanDuel launched internet sports betting integrated into GAN's platform.Broker Liberum estimated GAN's revenues from PPB were around $1m.

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15 Feb 2019 10:31

GAN highlights growth in New Jersey gambling market

(Sharecast News) - Gambling software provider GAN updated the market on Friday, following the publication of internet gaming and internet sports betting financial information for the calendar month of January in New Jersey by the state's Division of Gaming Enforcement.

25 Jan 2019 12:22

GAN revenues boosted by increase in 'real money' betting

(Sharecast News) - Internet gambling software developer GAN expects to have exceeded market expectations in its recently wrapped up trading year as a result of an increased level of "real money" online betting.

21 Dec 2018 14:27

GAN partners with European slot manufacturer SYNOT

(Sharecast News) - Gambling software-as-a-service provider GAN announced a partnership with major European slot manufacturer SYNOT, worth in excess of £0.4m, on Friday.

21 Dec 2018 11:54

Friday broker round-up

(Sharecast News) - Dechra Pharmaceuticals: Numis upgrades to add with a target price of 2,525p.

26 Nov 2018 14:43

GAN expands presence in Italy with Goldbet launch

(Sharecast News) - Internet gambling software provider GAN announced the launch of internet gaming content for Italian sports betting and casino gaming operator Goldbet on Monday.

28 Sep 2018 10:19

GAN Interim Loss Deepens As Costs Rise Despite Revenue Growth

LONDON (Alliance News) - Gambling software firm GAN PLC said Friday interim losses deepened after costs jumped despite revenue rising, though it did emphasise its sales pipeline is the half year a

14 Sep 2018 10:49

GAN Awards Contracts Litigation Firm To Enforce US Patent

LONDON (Alliance News) - Internet gambling software developer GAN PLC said Friday that it has awarded a mandate to intellectual property litigation firm Irwin IP LLP to implement a US patent and a

25 May 2018 16:09

UK Shareholder Meetings Calendar - Next 7 Days

UK Shareholder CalendarMonday 28 Mayno events scheduledTuesday 29 Stobart Life

25 May 2018 12:34

GAN Appoints Richard Santiago As Chief Financial Officer

LONDON (Alliance News) - Gaming software developer GAN PLC said Friday that it has appointed Richard Santiago as chief financial officer of the company.Santiago will join the company on 18.

21 May 2018 11:25

GAN To Raise GBP7.5 Million Following US Court Betting Decision (ALLISS)

LONDON (Alliance News) - GAN PLC said on Monday it intends to raise GBP7.5 million through a subscription of 15.0 million shares at a price of 50 pence per share.Shares in the US-focused up

29 Mar 2018 13:43

GAN Loss Narrows In 2017 As Revenue Grows On US Expansion

LONDON (Alliance News) - GAN PLC said Thursday its online gaming expansion in the US market helped annual revenue to rise, leading to the narrowed loss in 2017.The and

2 Aug 2016 07:30

GameAccount Partners With Casino Operator For Simulated Gaming Service

29 Jun 2016 11:08

GameAccount Network celebrates Pennsylvania gambling bill

(ShareCast News) - Developer and supplier of enterprise-level B2B internet gaming software GameAccount Network welcomed the approval of a bill by the Pennsylvania House of Representatives on Wednesday. The AIM-traded firm said the bill includes provisions for the legalisation of full real money inte

29 Jun 2016 10:30

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