GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading
business-to-business supplier of internet gambling
software-as-a-service solutions to the U.S. land-based casino
industry, today announced that Cordish Gaming Group, the global
gaming division of The Cordish Companies, has engaged GAN as their
enterprise software Platform provider to power their new
“PlayLive!” branded Internet gambling business in the State of
Pennsylvania, complementing the development of two new
Live!-branded gaming facilities in Philadelphia and Pittsburgh.
The new Live! Casino & Hotel, located in the Stadium
Entertainment District in the City of Philadelphia, will be a
world-class hotel, gaming & entertainment destination featuring
2,200 slot machines and 150+ live action table games. The second
new Live! Casino, located in Westmoreland County, near Pittsburgh,
will feature more than 100,000 square-feet of gaming, dining and
entertainment space, including 750 slots and approximately 30 live
action table games. Both locations are expected to open in
2020.
Leveraging the nationally-recognized “Live! Rewards” customer
loyalty program, this new Internet gambling destination website and
counterpart mobile apps will launch in Fall 2020, in advance of the
new Live! Casino openings—the first time a branded online gambling
site has launched prior to the bricks and mortar facility.
“PlayLive” will enable residents of Pennsylvania to enroll in
advance, online, for their Live! Rewards Players Card, and feature
a full range of gambling content for end users to engage with,
encompassing Internet slots, table games and non-traditional online
gambling games.
Live! is an existing client of GAN’s Simulated Gaming launched
online in 2015 as an amenity complementing the Live! Casino &
Hotel at Arundel Mills in Hanover, Maryland, proving once again the
strategic advantage of GAN deploying this entertainment-only form
of Internet gaming years in advance of regulated, intrastate, real
money Internet gambling. In doing so, GAN increases the propensity
of Simulated Gaming clients to extend their relationship with the
Company to encompass real money Internet gambling.
Live! Casino will be GAN’s third client of real money Internet
gambling enterprise software in the State of Pennsylvania,
expanding GAN’s real money Internet gambling operations in the U.S.
These operations now include the following states—New Jersey,
Pennsylvania, Indiana, and Michigan and Ohio, both of which are
expected to commence in the first half of 2021.
Management Commentary
Dermot Smurfit, CEO of GAN Limited, stated:
“We’re delighted to expand upon our long-standing relationship
with one of America’s premier commercial real estate families.
Bringing Pennsylvania’s newest casino online later this year will
be a genuine privilege, and we look forward to supporting their
on-property gaming business by leveraging our U.S. patented iBridge
Framework, bridging the Internet gambling experience with that of
retail gaming. Online will remain the growth driver of this
Industry for decades to come, not just in Pennsylvania but across
the nation.”
Robert J. Norton, President of Cordish Gaming Group, stated:
“With our established relationship, GAN was the logical provider
of our enterprise platform for launching real money Internet
gambling and offers Cordish the ability to extend on-property
rewards into the online channel, which has been shown to increase
loyalty amongst players of Simulated Gaming.”
This press release does not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful before
registration or qualification under the securities laws of any such
state or jurisdiction.
About GAN Limited
GAN is a leading business-to-business supplier of internet
gambling software-as-a-service solutions to the U.S. land-based
casino industry. GAN has developed a proprietary internet gambling
enterprise software system, GameSTACK™, which it licenses
principally to land-based U.S. casino operators as a turnkey
technology solution for regulated real-money internet gambling,
encompassing internet gaming, internet sports gaming and virtual
Simulated Gaming.
About Live! Casinos & Hotels
Live! Casinos & Hotels set a new standard in best-in-class
customer experiences with highly-acclaimed resort, casino and
entertainment destinations throughout the Mid-Atlantic region.
Live! delivers a renowned blend of world-class amenities,
award-winning accommodations, headline entertainment and an
exciting, spontaneous atmosphere that has become synonymous with
the Live! brand nationwide – “when you go LIVE! anything can
happen.” Live! offers a premier gaming experience, including a
strategic partnership with FanDuel Group, to bring unique
promotions and sports engagement opportunities to all Live!
properties. With a commitment to impeccable customer service and
treating guests like part of the family, the flagship Live! Casino
& Hotel, located in the Washington, DC/Baltimore corridor, has
a AAA Four Diamond rating and is the #1 tourist destination in
Maryland. Live! attracts more than 10 million visitors per year
seeking a unique setting with gaming, dining, entertainment and
shopping, all in one location. Two new Live! properties are soon to
open in Philadelphia and Pittsburgh, transforming each location
into first-class, must-see gaming and entertainment destinations.
Live! Casinos & Hotels are owned and operated by companies that
are affiliated with world-renowned developers The Cordish
Companies. Visit LiveCasinoHotel.com.
Forward-Looking Statements
This press release contains forward-looking statements that are
subject to the safe harbors created under federal securities laws.
Words such as “anticipate,” “believe,” “expect,” “intend,” “may,”
“will,” and similar expressions are intended to identify
forward-looking statements. The forward-looking statements in this
press release include statements about the Company’s expectations
regarding the closing of its proposed initial public offering and
the anticipated use of proceeds from the offering. These statements
involve risks, estimates, assumptions and uncertainties that could
cause actual results to differ materially from those expressed in
these statements, including, among others, risks and uncertainties
associated with market conditions and the satisfaction of customary
closing conditions related to the proposed offering, as well as
risks and uncertainties associated with the Company’s business and
finances in general. Because the risks, estimates, assumptions and
uncertainties referred to above could cause actual results or
outcomes to differ materially from those expressed in any
forward-looking statements, readers are cautioned not to place
undue reliance on any forward-looking statements, which speak only
as of the date on which they are made. The Company undertakes no
obligation to update or revise any forward-looking statements for
any reason, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20200528005301/en/
Investors:
GAN Jack Wielebinski Head of Investor Relations (214)
799-4660 jwielebinski@GAN.com The Equity Group Adam Prior
(212) 371-8660 aprior@equityny.com Carolyne Sohn (415) 568-2255
csohn@equityny.com
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