GAN.L Share News (GAN)

(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.The AIM-traded company described SYNOT as a "major manufacturer" of physical gaming machines, and a designer of gaming software, with gaming business activities across Europe, Asia and Africa.Under the terms, GAN would distribute six SYNOT-designed premium casino games, including their flagship slot title 'Alchemist's Gold', to the US market through its proprietary 'GameSTACK' internet gambling platform.The multi-year deal included paid-for development fees and ongoing revenue-share participation throughout the term.All games were expected to be launched and fully functional by the end of 2019, and would be released as both simulated gaming and real money gaming titles, contingent on regulatory laws in the various states."We are excited to begin working with SYNOT and look forward to bringing their successful European slot titles to select US markets," said GAN chief executive officer Dermot Smurfit."The deal solidifies GAN's US market position as a viable route for international and domestic gaming companies to gain immediate access to the new and fast-growing regulated US online gaming market."We expect full US-integration of all six SYNOT titles to be completed by the end of 2019 and expect material impacts to GAN's 2019 EBITDA and revenue in the same period."