BUSINESS

GAN sign Goldbet Italy deal, extend Betfair New Jersey pact

TAGs: gan, goldbet, Italy, paddy power betfair

goldbet-italy-gan-online-gamblingOnline gambling technology provider GAN has bolstered its presence in the regulated markets of Italy and New Jersey.

On Tuesday, GAN announced that it had inked a “multi-year” agreement with Italian-licensed online sports betting and casino operator Goldbet, which GAN says holds a 3% market share. The deal marks the ninth Italian online gambling deal for GAN.

Italy accounted for roughly 31% of GAN’s overall revenue last year, and GAN CEO Dermot Smurfit called the market “a strategic stronghold” for his company. The Italian market enjoyed significant growth in 2017, with online sports betting revenue growing 59.5% to €556m and online casino revenue up 29% to €567m.

GAN is also active in New Jersey’s regulated online gambling market via its deal with the locally licensed Betfair online casino of UK-listed giant Paddy Power Betfair. On Wednesday, GAN announced that the two parties had agreed to renew and extend their New Jersey relationship for another “multi-year” period.

GAN is expected to add a second New Jersey online casino to its client list later this year following the opening of the Ocean Resort Casino (the former Revel) casino in Atlantic City.

GAN, which also provides its Simulated Gaming free-play social casino product to US land-based casinos, has struggled in recent years with the slow pace of US real-money online gambling regulation. But the company has a deal to provide Pennsylvania’s Parx Casino with a real-money gambling product once that state finishes crafting its online rules.

GAN has also inked a prospective US sports betting partnership with sportsbook provider SBTech that will help bring land-based casinos into the retail and online sports betting world, assuming the US Supreme Court strikes down the federal betting prohibition.

Comments

views and opinions expressed are those of the author and do not necessarily reflect those of CalvinAyre.com