GAN PLC GAN announces GOLDBET as its 9th client in Italy (0970L)
17 April 2018 - 4:00PM
UK Regulatory
TIDMGAN
RNS Number : 0970L
GAN PLC
17 April 2018
LONDON STOCK EXCHANGE (LSE): GAN | IRISH STOCK EXCHANGE (ISE):
GAME
GAN announces GOLDBET as its 9th client in Italy
Increasing Italian market share for GAN's real money Internet
gaming content development and distribution business
London & Dublin | April 17, 2018: GAN plc ("GAN" or the
"Company") a leading B2B supplier of Internet gaming enterprise
software-as-a-service solutions to the US land-based casino
Industry, today announces that it has signed a multi-year agreement
with GOLDBET Srl ("Goldbet") a leading Italian Internet sports
betting & casino gaming operator in Italy's regulated
market.
GAN delivers more 500+ high-quality casino slots, table games
and non-traditional games in Italy to eight Italian clients who
together represent more than forty per cent of Italy's Internet
casino gaming market by Gross Gaming Revenue. Goldbet has
approximately three per cent market share of Internet casino gaming
in Italy and is anticipated to be accretive to GAN's Net Revenues
and EBITDA derived from Italy commencing in H2 2018.
Management Commentary
Dermot Smurfit, CEO of GAN commented:
"Italy remains a strategic stronghold for GAN and represents a
substantial long term investment in a market which first regulated
Internet skill-based games in 2009, Casino Table games in 2011 and
Casino Slot Games in 2013. The Italian regulated Internet gaming
market appears locked in a structural growth cycle which GAN
continues to benefit from by delivering an increasing number of
high quality Internet casino games to its clients. We very much
welcome the addition of Goldbet as our ninth client in Italy."
FAQ's about GAN's Italian real money online Regulated Gaming
-- Internet gaming was effectively out-lawed in Italy until 2008
when legislation permitted Italy's existing retail & online
sports betting operators to launch skill-based games online
including Poker and traditional Italian card games played
person-to-person. Legislation permitting casino Table games passed
in 2011 and casino Slots in 2013.
-- GAN launched its first Italian client SNAI SpA online in
September 2008. In CY2017 Italy represented 31% of GAN's GBP 9.12m
($12.9m) in Net Revenues.
-- The Internet casino market in Italy averaged EUR 57.7m
($71.3m) in Gross Gaming based on the trailing three (3) months of
February 2018, January 2018 and December 2017 market share
information reported by the Italian regulator AAMS. This was an
increase of +31.3% Year on Year on the three (3) month average of
EUR 44.0m ($49.4m) in February 2017, January 2017 and December
2016.
-- There are sixty-nine (69) active operators of licensed
Internet casino gaming in Italy. GAN's nine (9) clients, including
Goldbet, represent in aggregate more than 44% of the Internet
casino market in Italy based on the trailing three (3) months of
February 2018, January 2018 and December 2017 market share
information reported by the Italian regulator AAMS.
GAN | Overview
GAN is a leading B2B supplier of Internet gaming 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 gaming enterprise software
system, GameSTACK(TM), which it licenses principally to land-based
US casino operators as a turnkey technology solution for both
regulated real-money and/or virtual Simulated Gaming. GAN has
thirteen (13) casino operators as clients of Simulated Gaming
coast-to-coast across the US and Internationally; two (2) clients
of real money Regulated Gaming in New Jersey; one (1) client of
real money Regulated Gaming in Pennsylvania and ten (10) clients of
real money Regulated Gaming in Europe.
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. 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
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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