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Online Gambling Company GAN Raises 7.5 Million For US Sports Betting Push

GAN raises money sports betting Here’s CEO Dermot Smurfit on the funding: This strategic capital raising exercise, completed today, positions GAN to consolidate its US market position and capture substantial incremental revenue opportunities available resulting from both Internet gaming and sports betting regulation in New Jersey, Pennsylvania and other US States expected to regulate Internet gambling in the near future. Online gambling legislation is a little sluggish these days, but sports betting bills have dotted the map all year long. Three states have legal wagering right now, and at least four more will join before the end of 2018. Primarily a casino supplier, GAN began to maneuver toward sports betting in advance of the US Supreme Court ruling. Early this year , the company teamed up with SBTech, a fellow B2B giant with an established bookmaking platform. The agreement gives GAN the capacity to provide sports betting services to its existing casino clients. During the announcement, Smurfit indicated several clients had already asked GAN to “review, procure and support the delivery of a sports betting solution.” GAN has done pretty well to stay at the leading edge of US gambling expansion over the last several years. Way back in November 2014, the group struck a long-term deal with Parx Casino in Pennsylvania, starting with a social online casino. GAN’s portfolio of social partners also includes Winstar (Oklahoma), Borgata (New Jersey), Red Rock (Nevada), and Empire City (New York). The Parx deal was ahead of its time, predating PA gambling expansion by three years.

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