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GAN announces GOLDBET as its 9th client in Italy

Released 07:00 17-Apr-2018

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™, 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
 
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GAN announces GOLDBET as its 9th client in Italy - RNS