Irish gaming company, Game Account Network (GAN), is planning the launch of Overseas Internet Casino, an online real money casino in the regulated European market.
GAN, the developer and supplier of enterprise-level B2B online gaming software, services and content in the US, has signed the deal with an unnamed casino giant in the US which it has described as a major casino operator with multiple properties and revenue of more than US$1 billion per annum. This will be GAN’s first US customer to extend their partnership into overseas regulated online gaming markets.
GAN was selected following an extensive due diligence process with emphasis placed on its experience in customer-designed real money gaming services, its loyalty program and its comprehensive casino management system.
Under the terms of the agreement, GAN will receive $1.4 million in cash to launch and power the website and mobile app of the Overseas Internet Casino. The new internet casino has an annual marketing budget of around $10 million per year for the first seven years. The casino is expected to go live in the first half of 2017 and will integrate into the Client’s on-property rewards program.
“GAN’s unique casino product is performing strongly in New Jersey’s regulated market and is anticipated to perform equally well in Europe’s fast-growing markets,” announced Dermot Smurfit, chief executive of GAN.
“Enabled by the US casino operator’s brand, US casino property facilities, balance sheet and marketing investment, we anticipate our B2B turnkey services delivered to this US casino operator to contribute material revenue and earnings commencing in the first half of 2017.”
“This contract is a material long-term revenue opportunity for GAN and an exciting opportunity for the client to expand their land-based US gaming operations into the online channel, overseas.”