Posted on

GAN-Do Attitude: Software Company Raises $10m For US Casino Push

 

 

 

 

 

 

 

 

International internet gambling software developer and content supplier GAN is making some aggressive moves in the US online and sports gambling markets, following last week’s US Supreme Court decision to lift the federal ban on sports betting.

GAN issued a press release Monday saying it has raised approximately $10 million (£7,500,000) through the sale of Subscription Shares and will use the cash to expand its reach in the United States.

GAN CEO Dermot Smurfit said the capital will help the company take advantage of opportunities in states where online gambling and sports betting is either legal and regulated, or about to be:

“This strategic capital raising exercise positions GAN to consolidate its US market position and capture substantial incremental revenue opportunities available resulting from both Internet gaming and sports betting regulation in New Jersey, Pennsylvania and other US States expected to regulate Internet gambling in the near future.”

GAN eyes emerging US sports betting markets

The company will use the money to increase software engineering resources with an eye on better serving existing US clients and attracting new ones. Particularly those in sports gambling, anticipating a number of state sports betting markets will soon open up in the wake of last week’s Supreme Court decision.

Plus, it plans to pay back approximately $2.68 million (£2,001,483) in unsecured loan notes. That leaves the company debt free and capitalized to levels it believes are required to serve major US casino groups.

GAN has two regulated real money online gambling clients in New Jersey. This includes the Betfair online casino site, which operates under the Golden Nugget New Jersey online gambling license. Plus, it has an online casino site currently in development with Ocean Resort Casino. Ocean Resort Casino is the former Revel Atlantic City boardwalk casino and hotel property scheduled to open June 28.

It also provides social casino software for Parx Casino and Racing in Pennsylvania. In addition to holding an agreement with the casino to launch real-money online gambling together when the PA market opens up. PA lawmakers passed online gambling legislation in October 2017. The regulatory and licensing process is ongoing. The state’s first online gambling sites are likely to launch in the fourth quarter of 2018.

Play At Golden Nugget Now With Free Signup Bonus

The GAN-SBTech sports betting solutions deal

In January 2018, GAN inked a deal with sports betting solutions and online betting software supplier SBTech to serve the US land-based casino industry together.

The plan is for SBTech to supply real money sports betting services to GAN’s US casino clients. Plus, SBTech’s sports betting solution is being integrated with GAN’s GameSTACK enterprise online gambling software platform.

GAN also has 14 casino operator clients using its social casino software in the US and internationally. Plus, it provides the software platform for The Chickasaw Nation of Oklahoma WinStar European online gambling site.

GAN also boasts another ten real-money regulated online gambling clients in Europe. Its US casino clients represent more than 70 land-based casino properties across the country.

 

 

 

 

 

 

 

 

The post GAN-Do Attitude: Software Company Raises $10m For US Casino Push appeared first on Play USA.

Posted on

Two Weeks, $140 Million in Prizes: A Look at SCOOP, Powerfest and XL Inferno Performance

Records smashed with over $33 million in prizes awarded on the last Sunday alone across PokerStars, partypoker, and 888poker.

The month of May has always been one of the biggest on the online poker yearly calendar, but this spring the top three poker rooms in the industry paid out a staggering amount of over $140 million in prize money at their respective tournament series.

All three online operators finished on a high as they surpassed their main event guarantees with ease. Over $33 million was on the line this past Sunday making it the one of the biggest in recent history.

Read the full article on pokerfuse →

Posted on

Partypoker Announces World Cup-Themed “Click Card Championship” Promotion

The new leaderboard promotion spans the poker, sports and casino verticals and the top prize is an entry to MILLIONS Online.

Partypoker has announced its Click Card Championship promotion to celebrate the start of the World Cup. The promotion is open to players on their poker, sports and casino platforms.

The top prize is a free entry to MILLIONS online worth $5300. Other prizes include freeroll tickets to tournaments with prizes totaling $80,000.

Read the full article on pokerfuse →

Posted on

Top Poker Sites Smash Guarantees in Feature Tournaments

Last night´s simultaneous conclusions to PokerStars´ SCOOP, Party Poker´s PowerFest and 888 Poker´s XL Inferno series saw more than $18 million up for grabs across eleven Main Events; with all three sites smashing their prize pool guarantees thanks to the willingness of players to re-enter the feature tournaments. Yesterday was a colossal day for online […]