TIDMGAN
RNS Number : 7505A
GAN PLC
14 September 2018
LONDON STOCK EXCHANGE (LSE): GAN | IRISH STOCK EXCHANGE (ISE):
GAME
GAN Announces Appointment of
Leading Intellectual Property Litigation Firm to Drive Licensing
& Enforcement of US Patent
London & Dublin | September 14, 2018: 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 awarded a mandate to
specialist intellectual property litigation firm Irwin IP LLP
("Irwin IP") in Chicago, IL to implement a US patent licensing and
enforcement program principally targeting operators in the
regulated intra-State Internet gambling markets of New Jersey,
Nevada, Delaware and Pennsylvania which are currently infringing
upon the Company's US-patented intellectual property rights.
The commencement of GAN's Patent licensing program was announced
on May 30, 2017 following an unsuccessful 'ex parte' (anonymous)
legal challenge to GAN's US patent number 8,821,296, reinforcing
the value of GAN's US-patented technology for linking land-based
casino reward cards to online gambling accounts.
Following the completion of the GBP7.5M Equity Placing in June
2018 and the appointment of Irwin IP LLP, the Company will now
proceed to assert its rights over US-patented intellectual property
and seek commercial settlements for prior and continuing
infringements by regulated Internet gambling operators and/or
relevant technology vendors, who have been substantially and
progressively placed on notice of the Company's US intellectual
property rights.
A further update will be provided at GAN's H1 2018 interim
results on September 28, 2018.
Highlights
-- GAN's US Patent was awarded in September 2014 and this
US-patented technology has been licensed by GAN to many of the
largest US casino operators including Station Casinos, Chickasaw
Nation, MGM Resorts, Ocean Resort Casino and Parx Casino for both
Simulated Gaming (social casino gaming) and regulated real money
Internet gambling in both New Jersey and Pennsylvania
-- Irwin IP is an experienced intellectual property litigation
firm in Chicago, Illinois with a substantial track record in the US
casino gaming Industry securing injunctions and/or commercial
licensing agreements with major US casino equipment manufacturers
and/or US casino operators
-- Irwin IP's accomplishments include representing a mid-sized
software company in a three-week jury trial culminating in a $16
million jury verdict; helping a small, disruptive start-up defeat
patent infringement and false advertising claims asserted by a
large, multi-national company; and securing a permanent injunction
and $7.3 million jury award in an offensive gaming patent
infringement matter protecting a $100-million-dollar-a-year product
line
Patent licensing and/or settlement awards represent a
potentially high-margin incremental income stream for GAN.
FAQ's about Internet Gambling 'Platform' & US Patent
-- 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).
-- All US casinos operate an on-property rewards program (also
called 'loyalty programs') where visitors to the land-based casino
can enrol in a loyalty program, collect a rewards card and
accumulate reward points from real money gambling on-property.
Typically, US casinos have more than half of their active
on-property patrons enrolled in these reward programs.
-- GAN's US-patented technology principally permits US casino
operators' carded patrons to link their reward card to their online
gambling account in order to identify themselves as a patron of the
land-based casino and a member of their retail rewards program.
-- The Patent was awarded to GAN plc in September 2014 by the US
Patent & Trademark Office ("USPTO") with the Patent reissued
under the same Patent number by the USPTO on March 17, 2017
following an unsuccessful ex parte challenge brought by an
anonymous US Industry actor.
Notes:
1
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/GAN/13241403.html
For further information please contact:
GAN US Investors: The Equity Group
Dermot Smurfit Adam Prior
Chief Executive Officer aprior@equityny.com
+44 (0) 20 7292 6262 212.371.8660
dsmurfit@GAN.com
UK & Ireland Investors: Walbrook
PR
Paul Cornelius
GAN@WalbrookPR.com
+44 20 7933 8780
Davy (Nominated Adviser,
ESM Adviser and Joint
Broker)
John Frain / Barry
Murphy
+353 1 679 6363
Liberum (Joint Broker)
Neil Patel / Cameron
Duncan
+44 (0) 20 3100 2000
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(TM), 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
About Irwin IP LLP
Irwin IP specializes in intellectual property and
technology-related litigation. Irwin IP's founder, Barry Irwin, has
been recognized as a 'Super Lawyer' and 'Leading Lawyer' each year
for nearly two decades, and was recently named one of the Top 100
lawyers in Illinois, one of only eight intellectual property
attorneys.
Barry and several of the other senior Irwin IP attorneys spent
decades working at one of the most prestigious law firms in the
country where they had a long history of achieving successful
results in the gaming industry for companies like IGT, Action
Gaming and Shuffle Master.
For more information please visit www.IrwinIP.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCLLFLDAIIVLIT
(END) Dow Jones Newswires
September 14, 2018 02:00 ET (06:00 GMT)
GAN (NASDAQ:GAN)
Historical Stock Chart
From Apr 2024 to May 2024
GAN (NASDAQ:GAN)
Historical Stock Chart
From May 2023 to May 2024