Software and content provider GAN has announced an expanded partnership with the FanDuel Group in the U.S.
GAN will provide rapid deployment of Internet casino, and account services for Internet sports betting in Pennsylvania and West Virginia as well as continuing existing services for the group in New Jersey. The expanded contract represents a material increase in the value of the partnership to GAN across revenue share, professional services and patent licensing fees, the company said in a press release.
As part of the contract expansion, FanDuel has agreed to license GAN’s US Patent. Gan’s management said the recognition of GAN’s US Patent significantly underpins GAN’s intangible asset value and could potentially lead to further client partnerships and US Patent licensing revenue opportunities.
GAN’s technology allows land-based casino patrons enrolled in on-property loyalty programs to link existing loyalty cards to Internet gambling accounts and receive loyalty points in exchange for online gambling, the release said.
“The contract extension combined with U.S. Patent licensing represents a significant milestone in GAN’s U.S. evolution and reinforces our view that in the heavily regulated US online gambling market, effective and compliant ‘platforms’ are a premium component of the supply chain rather than a commodity,” said Dermot Smurfit, CEO of GAN. “GAN is therefore very well placed to capitalize on the growth in US online gambling markets in terms of new operator clients, new States and underlying growth momentum.”
