GAN, FanDuel Expand Online Casino Partnership in Pennsylvania

Developer and supplier of B2B online gambling software and services GAN plc today announced a “material addition” to the existing services it provides to FanDuel Group, the US business of gambling operator Flutter Entertainment plc (formerly Paddy Power Betfair).

The expansion of the existing relations between the two companies comes ahead of what now seems to be the imminent launch of Internet gambling in the state of Pennsylvania.

News about the expanded relationship between GAN and FanDuel arrive as the Pennsylvania Gaming Control Board and the state’s authorized land-based casinos are gearing up for the launch of Pennsylvania’s first online casinos. First online gaming operations are expected to go live in the state in mid-2019.

GAN and FanDuel originally partnered in 2013 for a digital launch in New Jersey where online gaming became legal that year. In January 2019, the two companies announced that they would built on that initial relationship with an extended five-year contract, under the terms of which GAN became FanDuel’s platform provider for “rapid deployment of Internet casino, and account services for Internet sports betting in Pennsylvania and West Virginia.”

FanDuel entered Pennsylvania’s sports betting market earlier this year through a partnership with Valley Forge Casino near Philadelphia. The deal between the betting operator and the gambling venue included the provision of wagering services at a physical outlet and online. FanDuel Sportsbook at Valley Forge Casino launched in March 13.

As for GAN, it has previously secured its entry in the Pennsylvanian Internet gambling market through a partnership with Parx Casino.

Revenue Opportunity

The expanded partnership between GAN and FanDuel would help GAN deliver on its US growth strategy. Commenting on today’s announcement, the provider’s CEO, Dermot Smurfit, said:

The launch of an Internet casino service for another casino in Pennsylvania represents a material incremental revenue opportunity for GAN.

Details about the upcoming launch of an Internet casino are yet to be revealed by the two companies.

During GAN’s annual general meeting, which took place earlier this month, Mr. Smurfit said that the company is firmly focused on “taking advantage of the incremental US Internet sports betting opportunity and that their clients’ revenue have increased substantially since the start of regulated wagering across several states around the nation.

GAN ceased trading on Dublin’s Euronext Growth market earlier this week after shareholders approved the move recently. Mr. Smurfit said that the company floating on that market was “a waste of time and energy” and that there was zero trading going on.

GAN is in the middle of a strategic review of its options. The company has tapped Union Gaming to advise and assist with its review. GAN has said that the review could result in its sale or its listing in the US, among other options.

Mr. Smurfit himself seems to believe that GAN equity should be listed in the US, “where there is a much higher ceiling in valuations for enterprise software companies.”

Follow us on Facebook and Twitter to stay up to date on the day’s top casino news stories.

The post GAN, FanDuel Expand Online Casino Partnership in Pennsylvania appeared first on Casino News Daily.

Original source: https://www.casinonewsdaily.com/2019/06/20/gan-fanduel-expand-online-casino-partnership-in-pennsylvania/

Relevant news

Leave a Reply