iGaming platform and software supplier GAN has significantly expanded its US regulated market footprint through a new, expanded contract with long-term partner FanDuel Group.
The agreement with Paddy Power Betfair’s US-facing subsidiary will see GAN provide FanDuel a platform to power the launch of online casino, as well as a player account management solution for online wagering in West Virginia and Pennslyvania.
This builds on the companies’ existing relationship, which has seen GAN provide a platform and related services for FanDuel Group in the regulated New Jersey market since 2013. The new contract runs from 2019 until 2024.
FanDuel has deals in place with West Virginia’s Greenbrier luxury resort, with land-based betting already launched in September 2018. It has a deal in place with the Boyd Gaming-owned Valley Forge Casino in Pennsylvania, which will see it serve as the casino’s sports betting service provider, while GAN already provides player management services to Parx Casino in the state.
The expanded partnership will also see FanDuel license GAN’s US patented technology for linking casinos’ on-property loyalty programmes to iGaming accounts, allowing players to collect loyalty points by gambling online. This is designed to boost customer lifetime value and engagement among US casino patrons.
GAN said that the partnership would therefore boost the company’s bottom line by growing revenue share and professional services fees, as well as creating scope for more partnerships and opportunities to grow revenue from additional patent licensing deals.
“The contract extension combined with US patent licensing represents a significant milestone in GAN’s US 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,” GAN chief executive Dermot Smurfit said.
“GAN is therefore very well placed to capitalise on the growth in US online gambling markets in terms of new operator clients, new states and underlying growth momentum.”