GAN delivers record 14.6m Super Bowl bets and expands Parx deal
Dermot Smurfit, chief executive of GAN, said the supplier delivered uninterrupted performance for all of its US clients during last week’s Super Bowl, experiencing record transaction volumes before, during and after the event.
The supplier has also reached an agreement with existing customer Greenwood Gaming & Entertainment (trading as Parx Casino), to license its iBridge integration framework, which integrates operators’ online and offline loyalty reward schemes, for a period of 10 years.
The agreement will see Parx Casino pay a total licensing fee of $3m, implying a patent license of roughly $75 per reward card. A further amendment to the existing contract with Parx Casino sees the operator released from exclusivity moving forward.
The patent licensing deal with Parx Casino further validates GAN’s intellectual property, he said, and sets a new bar for its value per reward card.
“We continue to be engaged in numerous conversations with both large and small casino-operators to partner with GAN in order to seamlessly connect their loyal reward-card carrying customers to their various online offerings.”
“As a result, we believe we are on track to license our iBridge patent to additional U.S. casino operator groups in 2021 and throughout the patent’s remaining 13-year duration, which should help us drive long-term value for our shareholders,” Smurfit concluded.