Jan. 10, 2019
GAN plc, a London-based developer of gaming software, has reached a five-year contract extension with FanDuel Group to expand its internet sports betting to Pennsylvania and West Virginia.
The agreement expands on its existing business with FanDuel to provide sports betting business in New Jersey and represents a material increase in the value of the deal in terms of revenue share, professional services and patent licensing fees, according to a press release.
FanDuel will license GAN's patented technology, which allows land-based casino patrons to link loyalty cards to internet gaming accounts and get loyalty points, according to the release. FanDuel operates one of the leading fantasy sports apps in the U.S.
"The contract extension, combined with U.S. Patent licensing, represents a significant milestone in GAN' U.S. evolution and reinforces our view that in the heavily regulated U.S. online gambling market, effective and compliant 'platforms' are a premium component of the supply chain rather than a commodity," said GAN CEO Dermot Smurfit. "GAN is therefore well placed to capitalize on the growth in U.S. online gambling markets in terms of new operator clients, new states and underlying growth momentum."
The agreement makes FanDuel the second Pennsylvania client for GAN, which already does business with the Greenwood Gaming & Entertainment Inc., which operates Parx Casino, in Bensalem, Penn. GAN entered a multi-year deal with to provide retail and online sports betting at the property.
Topics: Gaming, Loyalty Programs, Mobile Apps, Regulatory Issues
Sponsored Links: