LONDON--(BUSINESS WIRE)--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.
