GAN Announces Multi-Year Agreement with Incredible Technologies for Exclusive U.S. Online Rights to Leading Casino Portfolio
17 June 2021 - 10:00PM
Business Wire
Second major agreement for exclusive content
solidifies GAN platform's industry leadership and operations across
all U.S. iGaming States for multiple clients
GAN Limited (the "Company" or "GAN") (NASDAQ: GAN), a leading
full-service internet gaming software-as-a-service provider to the
real money internet gaming, online sports betting, and simulated
gaming industries, today announced it has reached an agreement with
Illinois-based Incredible Technologies, Inc. ("Incredible
Technologies" or "IT") to obtain the exclusive online rights to all
current and future Incredible Technologies' online games, which
will grow to over 110 games during the term of the contract.
Incredible Technologies is a leading designer and manufacturer
of U.S. electronic gaming machines with evergreen slot machines
such as Crazy Money® and Money Rain® present on the majority of
retail casino gaming floors across America and available online in
New Jersey since 2014 and 2016, respectively.
For GAN, this deal adds to the content acquisition strategy
devised to increase the Company's overall 'take rate' on B2B Gross
Operator Revenue derived from iGaming as well as securing a
fast-growing share of existing iGaming revenues from B2C Operators
who are not already clients of GAN. GAN will immediately begin
deriving online content licensing fees from Incredible
Technologies' existing online operations in New Jersey. As a result
of this long-term deal, GAN's combined exclusive online slot
partners content represented approximately 7% of all slots sold in
the U.S during 2020.
For IT, which possesses a strong library of proven casino games
and other out-of-home entertainment games in tens of thousands of
establishments, this deal enables them to work with a single
long-term partner with an existing major online distribution
network in the U.S. while focusing resources to increase their
online portfolio rapidly. IT will provide GAN's Platform and Super
RGS clients with an exclusive and substantial portfolio of online
casino slot gaming experiences today and over the coming years. IT
will now distribute their entire online games library only through
the GAN's Platform or Super RGS in the U.S.
Jeff Berman, Chief Commercial Officer of GAN,
commented:
"We welcome this partnership with Incredible Technologies as
another validation of our market-leading presence in the regulated
intra-State markets of America. Today's announcement is another
exciting step toward building upon our strategy of establishing
exclusive online access rights to the most popular retail U.S. slot
games. Few content providers in the U.S. market have established a
reputation for innovation and creativity as well as the operational
excellence of Incredible Technologies. The popularity of IT's slot
games, including the player-favorite Ultra Rush themes, will be a
critical addition to our portfolio as we commit ourselves to
becoming a leading provider of exclusive online content."
Daymon Ruttenberg, SVP of Gaming of Incredible Technologies,
added:
"Our partnership with a proven and premier partner like GAN
advances the online U.S. distribution of our leading portfolio of
gaming content. Since our company's founding, we have been
committed to creating innovative and exciting ways to engage
players with new technologies and capabilities. We know that GAN
shares this commitment, and we look forward to bringing new online
experiences to our players through GAN's extensive online
distribution network. Together, we will be drivers of the U.S.
iGaming market as it continues to grow."
About GAN Limited
GAN is a leading business-to-business supplier of internet
gambling software-as-a-service solutions predominantly to the U.S.
land-based casino industry. Coolbet, a division of GAN, is a
market-leading operator of proprietary online sports betting
technology with market leadership positions in selected European
and Latin American markets. GAN has developed a proprietary
internet gambling enterprise software system, GameSTACK™, which it
licenses to land-based casino operators as a turnkey technology
solution for regulated real money internet gambling, encompassing
internet gaming, internet sports gaming, and virtual Simulated
Gaming. Additional information about GAN can be found online at
www.GAN.com.
About Incredible Technologies
Incredible Technologies (IT) is an amusement and gaming
manufacturer focused on delivering compelling entertainment to
casino floors and amusement locations across the world. The company
headquarters are located in the Chicago suburb of Vernon Hills, IL,
with remote offices in Lincolnshire, IL, and Las Vegas. IT products
represent the very best in innovation, serviceability, and
entertainment. IT is the largest manufacturer of coin-operated
video games in the United States, with its flagship product, Golden
Tee® Golf, recognized as the most successful pay-to-play video game
in history. Since their introduction to casino floors in 2011, IT
slots have been become known for their industry-leading and
award-winning innovation. Incredible Technologies is an associate
member of the National Indian Gaming Association, California
Nations Indian Gaming Association, Washington Indian Gaming
Association, American Gaming Association, Association of Gaming
Equipment Manufacturers, and is a certified Women's Business
Enterprise.
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
All statements contained in this release that do not relate to
matters of historical fact should be considered forward-looking
statements, including statements regarding future business
opportunities as well as statements that include the words
"expect," "intend," "plan," "believe," "project," "forecast,"
"estimate," "may," "should," "anticipate" and similar statements of
a future or forward-looking nature. These forward-looking
statements are based on management's current expectations. These
statements are neither promises nor guarantees but involve known
and unknown risks, uncertainties, and other important factors that
may cause actual results, performance, or achievements to be
materially different from any future results, performance, or
achievements expressed or implied by the forward-looking
statements. Readers are cautioned not to place undue reliance on
any forward-looking statements, which speak only as of the date on
which they are made. The Company undertakes no obligation to update
or revise any forward-looking statements for any reason, except as
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210617005163/en/
Investor Contacts:
GAN Robert Shore Vice President, IR and Capital Markets
(610) 812-3519 rshore@GAN.com
Alpha IR Group Ashley Gruenberg or Ryan Coleman (312)
445-2870 GAN@alpha-ir.com
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