State expansion beckons for GAN and Paddy Power Betfair alliance

State expansion beckons for GAN and Paddy Power Betfair alliance

Thursday, April 19, 2018 Posted by Craig Davies
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Multi-year extension for the continued provision of platform services

After joining forces five years ago, GAN and Paddy Power Betfair have announced a contract extension, which has the potential to cross state lines beyond its current New Jersey base.

With the successful collaboration between the two parties said to have established a “significant and profitable internet casino in New Jersey”, the new deal relates to the continued provision of platform services to the growing online gaming market within the US state.

Dermot Smurfit, chief executive officer of GAN, spoke to about the significance of this new deal, and how well it places both parties to potentially capitalise further via a roll out across more states: “It’s significant for GAN because it’s a long-standing client in New Jersey and together we’ve built into NJ’s number two Casino brand, despite Betfair not owning a bricks & mortar casino.

“It’s also our largest single client, by revenue contribution, and one of the world’s largest iGaming/Sports operators, so clearly a key client for GAN.

“Other states remain at Betfair’s option, but there would be a sensible presumption that the successful GAN/Betfair partnership will roll over state lines.”

Currently only Nevada and Delaware sit alongside New Jersey in being able to offer regulated online gaming, with Pennsylvania all set to join the trio at any point.

The introduction of The Keystone State into the online space could double the number of Americans able to wager real money on internet casino games.

Smurfit went on to detail the impact that this roll-out could have: “Pennsylvania will be a circa $200m gross gaming market in the first 12 months, possibly more. On ‘Day One’ in Pennsylvania the iGaming websites will offer solid payments and 400+ games, unlike in New Jersey where back in 2013/14 payments were erratic and the websites each had <100 games.

“If sports is permitted by the Supreme Court in the next few weeks the Pennsylvanian market likely doubles to $400m+ in gross gaming revenue from casino gaming and gross win on sports.”

Totally Gaming says: Being such a vast market, the opportunities afforded within the US are clear for all to see, with that set to rise drastically as more and more states roll-out regulated online gaming. Through this extension, GAN and Paddy Power Betfair have ensured that they are poised to capitalise, should a decision be made to extend their deal beyond its current New Jersey agreement.

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