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GAN expands agreement with FanDuel Group
23rd Oct 2019 15:52
(Sharecast News) - Gambling software developer GAN announced the expansion of its existing agreement with FanDuel Group on Wednesday, to be the latter's platform for rapid deployment of account services for internet sports betting in the state of Indiana.
The AIM-traded firm said the deal followed that state's legalisation of sports betting on 8 May, and the intra-state Indiana market commencement of Internet gambling on 3 October.
FanDuel launched internet sports betting for residents of Indiana on Tuesday, following the parties obtaining all applicable regulatory consents, which the board said represented a "material increase" in the value of the partnership to GAN.
It said the expansion followed GAN's launch of account services for FanDuel in Pennsylvania on 22 July, in addition to the long-standing existing services provided since 2013 by GAN to FanDuel in the state of New Jersey.
Additionally, GAN confirmed the receipt of a temporary supplier license from the Indiana Gaming Commission, which it said demonstrated its continuing ability to rapidly submit to licensure in "highly regulated" US internet gambling markets.
It was GAN's second gaming license awarded in 2019, and third US gaming license following approval in the states of New Jersey and Pennsylvania.
"Our effective and compliant Platform represents a premium component of the supply chain and our team has a track record of on-time delivery for our long-standing client FanDuel, which has proven to be an exceptionally successful partnership to date in both New Jersey and Pennsylvania," said GAN chief executive officer Dermot Smurfit.
"Rapid deployment into the State of Indiana is a logical extension of our relationship to best support FanDuel in capturing early market share of Internet sports betting in Indiana."
The AIM-traded firm said the deal followed that state's legalisation of sports betting on 8 May, and the intra-state Indiana market commencement of Internet gambling on 3 October.
FanDuel launched internet sports betting for residents of Indiana on Tuesday, following the parties obtaining all applicable regulatory consents, which the board said represented a "material increase" in the value of the partnership to GAN.
It said the expansion followed GAN's launch of account services for FanDuel in Pennsylvania on 22 July, in addition to the long-standing existing services provided since 2013 by GAN to FanDuel in the state of New Jersey.
Additionally, GAN confirmed the receipt of a temporary supplier license from the Indiana Gaming Commission, which it said demonstrated its continuing ability to rapidly submit to licensure in "highly regulated" US internet gambling markets.
It was GAN's second gaming license awarded in 2019, and third US gaming license following approval in the states of New Jersey and Pennsylvania.
"Our effective and compliant Platform represents a premium component of the supply chain and our team has a track record of on-time delivery for our long-standing client FanDuel, which has proven to be an exceptionally successful partnership to date in both New Jersey and Pennsylvania," said GAN chief executive officer Dermot Smurfit.
"Rapid deployment into the State of Indiana is a logical extension of our relationship to best support FanDuel in capturing early market share of Internet sports betting in Indiana."