TIDMGAN
RNS Number : 6311C
GAN PLC
18 April 2017
GAN plc
LONDON STOCK EXCHANGE (LSE): GAN | IRISH STOCK EXCHANGE (ISE):
GAME
GAN Receives New Jersey CSIE License Award
Company granted privileged Casino Service Industry Enterprise
license from the New Jersey Division of Gaming Enforcement
London & Dublin | April 18, 2017: 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 the grant of
its first privileged gaming license in the US issued to GAN by the
New Jersey Division of Gaming Enforcement ("NJDGE"). This
establishes the suitability of GAN, its major shareholders,
directors and key employees to conduct regulated Internet gaming
business in New Jersey. In parallel, this important milestone
strongly positions GAN to obtain licenses in other US States which
may elect to regulate real money Internet gaming in the future.
GAN submitted an initial license application in 2013 and has
supported the NJDGE in undertaking customary and necessary
investigations into GAN's current and historic business activities,
major shareholders, directors and key employees.
Management Commentary
Dermot Smurfit, CEO of GAN commented:
"We have long maintained that a key benefit of choosing GAN is
the guaranteed integrity and strong compliance profile of our
current and historic business activities, clean source of
investment funds and the unquestioned suitability of our major
shareholders, directors and employees to be licensed in New Jersey.
Here is the proof of those long-standing statements. GAN has been
thoroughly and professionally investigated by the NJDGE and we
welcome the grant of our first privileged gaming license in the
United States. In the heavily regulated world of Internet gaming,
the significance of this gaming license cannot be underestimated
and is a major asset for our Company and will deliver our
shareholders significant value over time."
FAQ's about GAN's real money online Regulated Gaming
-- GAN is among the first B2B technology providers to secure a CSIE license in New Jersey.
-- Launched in the US by Betfair on GAN's technology platform in
November of 2013 www.BetfairCasino.com has established itself as
one of the most successful independent Internet casino operators in
New Jersey and publicly reports its Internet gross gaming revenues
each month under the Golden Nugget Atlantic City casino
license.
-- Regulated real money Internet gaming in New Jersey achieved
$21.75m in Gross Gaming Revenue in March 2017, up +40% compared to
this time last year. In 2016, New Jersey's Internet gaming market
generated total Gross Gaming Revenues was $197m, an +32% increase
from $149m in the prior year 2015.
-- Industry analysts and press reports widely predict the
regulation of Internet gaming in New Jersey's neighbouring State of
Pennsylvania where GAN has secured the #1 'brick & mortar'
gaming operator, Parx Casino, as a client in the event Pennsylvania
does proceed to regulate Internet gaming. The population of
Pennsylvania is approximately +43% larger than the population of
New Jersey and Internet gaming could commence in early 2018 in the
event enabling legislation is passed in Pennsylvania on or before
June 30, 2017.
www.GAN.com
For further information please contact:
GAN Investors: The Equity
Group
Dermot Smurfit Adam Prior
Chief Executive Officer aprior@equityny.com
+44 (0) 20 7292 6262 Main telephone: 212.371.8660
dsmurfit@GAN.com
Davy
John Frain / Roland
French
+353 1 679 6363
GAN | Overview
GAN is a leading developer and supplier of enterprise-level
Business to Business gaming software systems and online gaming
content. GAN is listed on the ESM Market of the Irish Stock
Exchange and the AIM Market of the London Stock Exchange under the
ticker: GAN
The Company has developed an Internet gaming enterprise software
system, GameSTACK(TM), which it licenses to online and land-based
gaming operators as a turn-key technology solution for both
regulated real-money and simulated online gaming. The Internet
Gaming System, developed in London under a UK Gambling Commission
license, is certified to the highest technical standards currently
required by gaming regulators.
GAN is also a leading developer of proprietary online games with
a complementary business converting offline casino slot machines
and table games into online equivalents on behalf of major
land-based slot machine manufacturers including Aristocrat,
Ainsworth, KONAMI, Everi (formerly Multimedia Games), Incredible
Technologies, GamoMat, Reel Time Gaming, High Flyer Games and
Scientific Games (via DEQ Systems Corp).
GAN has an established business in Europe, licensing gaming
content to major European gaming operators including Bet365,
Betfair PaddyPower, William Hill, Rank, Lottomatica, Sisal and
SNAI.
In the United States for real money Internet gaming, GAN has
partnered with Betfair Plc to provide its Internet Gaming System
following the introduction of regulated real-money online gaming in
New Jersey in November 2013.
In the United States for Simulated Gaming(TM), GAN has partnered
with an increasing number of major land-based US casinos
coast-to-coast. In New York, GAN has launched a Simulated
Gaming(TM) website via www.EmpireCityCasino.com in September 2014.
In Pennsylvania, GAN launched a Simulated Gaming(TM) website
www.ParxOnline.com in March 2015. In March 2015 Maryland Live!
Casino in Maryland chose GAN to upgrade their existing free-to-play
website to a monetized Simulated Gaming(TM) website, soft-launched
in July 2015 and launched integrated with their casino management
system in November 2015. In September 2015 major Californian Tribal
casino operator San Manuel chose GAN's Simulated Gaming(TM)
launched in November 2015. In October 2015 American Casino &
Entertainment Properties (ACEP) chose GAN's Simulated Gaming(TM)
launched in December 2015. In December 2015 Borgata Casino Hotel
& Spa chose GAN's Simulated Gaming(TM) launching in H1 2017.
Also in December 2015 Lady Luck Interactive, a wholly-owned
subsidiary of Isle of Capri Corporation, chose GAN's Simulated
Gaming(TM) and launched in July 2016. In February 2016 Rock Gaming
(re-branded as JACK Entertainment) chose GAN's Simulated Gaming(TM)
to support their Ohio-based casino properties launched online in
October 2016. In March 2016 Twin River in the North East chose
GAN's Simulated Gaming(TM) and launched in November 2016. In April
2016 major Tribal casino operator Chickasaw Nation chose GAN's
Simulated Gaming(TM) launching in H1 2017. In June 2016 Tribal
casino operator TurningStone Casino Resort chose GAN's Simulated
Gaming(TM) and launched in March 2017. In July 2016 Nevada's
Station Casinos chose GAN's Simulated Gaming(TM) launching in H1
2017. In September 2016 a major existing US casino client nominated
GAN to launch real money Internet casino gaming in Europe and other
Rest of World regulated markets commencing in H1 2017.
In April 2017 GAN was granted a Casino Service Industry
Enterprise license by the New Jersey Division of Gaming Enforcement
being GAN's first privileged gaming license in the United
States.
For more information please visit www.GAN.com
This information is provided by RNS
The company news service from the London Stock Exchange
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