Sports Betting now online in New Jersey
September 10 2018 - 7:00AM
Business Wire
IGT Sports betting now integrated by GAN for
FanDuel Group
GAN plc (“GAN” or the “Company”), an award-winning developer and
supplier of enterprise-level B2B Internet gambling software and
services in the United States, today announces the Company has
launched Internet sports betting in New Jersey delivered for Paddy
Power Betfair plc’s FanDuel Group, GAN’s first US client to operate
Internet sports betting via the GAN Platform.
The partnership with the FanDuel Group for delivery of Internet
sports betting serving New Jersey residents via the GAN Platform
was previously announced on July 18, 2018.
Highlights
- FanDuel Group1 is a subsidiary of Paddy
Power Betfair PLC, a leading international sports betting and
gaming operator
- GAN has completed the integration of
FanDuel’s nominated Internet sports betting software which is a
combination of IGT’s sports platform and Paddy Power Betfair’s
leading pricing, trading and risk management technology, along with
a user interface designed for the US customer by the FanDuel
team
- On September 1, 2018 FanDuel
soft-launched a FanDuel-branded website and accompanying mobile app
offering Internet sports betting, leveraging GAN’s enterprise
software. The FanDuel website and mobile apps are now available
24/7
Sports betting has been delivered as an integrated extension
into GAN’s enterprise software Platform and GAN participates in the
incremental sports betting revenues.
FAQ’s about Internet Gambling ‘Platform’ & US sports
betting regulation
- For investors and Industry analysts:
The core of a “Platform” from both a technical and regulatory
standpoint is the Player Account Management System i.e. where
highly sensitive customer and player activity data is stored and
processed. Other elements of Platform can include a sportsbook
transaction engine, gaming content integrations, payment services,
marketing services, trading services and other ancillary
activities. However, the core functionality to describe B2B systems
and services as a 'Platform' is the Player Account Management
System. This is also the layer of B2B activity which tends to
require regulatory approval as a 'Platform' since it is the focal
point of data and player security. Therefore, without the Player
Account Management System, a service provider might be offering
very valuable B2B functionality but not in the strictest sense a
'Platform' (source: Regulus Partners, an international gambling
advisory group).
- The Federal ban on sports betting
enshrined within Professional and Amateur Sports Protection Act
1992 (“PASPA”) was repealed by the Supreme Court of the United
States on May 14, 2018 permitting individual US States to pass
their own sports betting laws.
- New Jersey passed legislation bill
A4111 on June 7, 2018 enabling land-based casinos and racetrack
operators in the State of New Jersey, together with existing
Internet gaming operators in New Jersey, to launch sports betting
in retail properties and online.
- On June 7, 2018 GAN’s client Paddy
Power Betfair announced2 a relationship with a New Jersey racetrack
identified as ‘Meadowlands Racetrack’ which permitted the launch of
Internet sports betting, comprising the full range of US sporting
events for New Jersey residents alongside their existing Internet
casino gaming business operating on GAN’s enterprise-level B2B
Internet gambling software.
- GAN and Paddy Power Betfair launched
Internet casino gaming on November 21, 2013 in the State of New
Jersey. On April 18, 2018, the parties announced3 a multi-year
extension of GAN’s Platform Services which will now encompass the
delivery by GAN of Internet sports betting, integrated into GAN’s
enterprise-level Internet gambling software platform.
Notes:
1
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/PPB/13713019.html2
https://www.prnewswire.com/news-releases/betfair-us-reaches-long-term-agreements-for-sports-betting-in-new-jersey-and-new-york-with-meadowlands-racetrack-and-tioga-downs-300661947.html3
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/GAN/13608385.html
GAN | Overview
GAN is a leading B2B supplier of Internet gambling enterprise
software-as-a-service solutions to the US land-based casino
Industry. 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 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 betting and/or virtual Simulated Gaming.
GAN has fourteen (14) casino operators as clients of Simulated
Gaming coast-to-coast across the US and Internationally; two (2)
clients of real money Regulated Gambling in New Jersey; one (1)
client of real money Regulated Gambling in Pennsylvania and ten
(10) clients of real money Regulated Gambling in Europe.
The Internet Gambling System, developed in London under a UK
Gambling Commission license, is certified to the highest technical
standards currently required by gambling regulators. 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. In May 2018, the US
Supreme Court repealed PASPA and GAN confirmed the H2 launch of
sports betting for US clients integrated into GAN’s enterprise
software platform. In September 2018 GAN launched Internet sports
betting in New Jersey, available as an integrated option alongside
Internet gaming.
For more information please visit www.GAN.com
FanDuel Group overview
FanDuel Group is an innovative sports-tech entertainment company
that is changing the way consumers engage with their favorite
sports, teams, and leagues. The premier gaming destination in the
United States, FanDuel Group consists of a portfolio of leading
brands across gaming, sports betting, daily fantasy sports,
advance-deposit wagering, and TV/media, including FanDuel, Betfair
US, DRAFT, and TVG. FanDuel Group has a presence across 45 states
and 8 million customers. The company is based in New York with
offices in California, New Jersey, Florida, Oregon, and Scotland.
FanDuel Group is a subsidiary of PaddyPower Betfair plc, a leading
international sports betting and gaming operator and a constituent
of the FTSE 100 index of the London Stock Exchange.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180910005472/en/
GANDermot Smurfit, +44 (0) 20 7292 6262Chief Executive
Officerdsmurfit@GAN.comorUS Investors: The Equity GroupAdam
Prior, 212-371-8660aprior@equityny.comorUK & Ireland
Investors: Walbrook PRPaul Cornelius, +44 20 7933
8780GAN@WalbrookPR.comorDavy (Nominated Adviser, ESM Adviser and
Joint Broker)John Frain / Barry Murphy+353 1 679
6363orLiberum (Joint Broker)Neil Patel / Cameron Duncan+44
(0) 20 3100 2000
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