GAN, a leading online gaming technology and service provider recently announced that it has received its first gaming license in the United States.
The license has been issued by the New Jersey Division of Gaming Enforcement (NJDGE).
The license confirms the suitability of GAN, its shareholders as well as its management team to carry out regulated gaming activities in the state of New Jersey.
The company stated that receiving the license in New Jersey strengthened its position to obtain such licenses from other state in the country. GAN had submitted its application for a license back in 2013.
In a statement Dermot Smurfit, GAN CEO said,
GAN has been thoroughly and professionally investigated by the NJDGE and we welcome the grant of our first privileged gaming license in the United States. In the heavily regulated world of Internet gaming, the significance of this gaming license cannot be underestimated and is a major asset for our Company and will deliver our shareholders significant value over time
Smurfit said that the receiving the license was proof of GAN’s integrity, its compliance with regulations and clean investment funds. Since its launch, GAN has established itself as a leading B2B developer and supplier of online gaming content and software systems. It is listed on both the Irish Stock Exchange and the London Stock Exchange.
The company is currently supplying gaming content to several major European gaming operators such as Betfair, PaddyPower, Bet365, William Hill, Lottomatica, Rank, SNAI and Sisal. In the U.S. market, GAN has teamed up with Betfair Plc to support real money online gaming by offering its proprietary Gaming System after New Jersey legalized online gaming in 2013.
A large part of GAN’s revenue is from its online free-to-play Simulated Gaming social casino product. In the United States, GAN has partnered with a number of land based casinos to offer its Simulated Gaming platform and assist with setting up dedicated gaming sites for the casinos. Some of the casinos include the Maryland Live! Casino and the Borgata Casino Hotel & Spa in New Jersey who have since upgraded to the monetized version of the game.
The company recently released its first quarter results for 2017, which revealed that active player days were up by 9.3 percent from the last quarter of 2016. Its average revenue per daily active user climbed 3.7 percent on a quarterly basis to hit $7.69. Full year result for 2016 is expected to be released on May 30.