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GAN Sports set for Nevada entry

| By Richard Mulligan
GAN is set to launch its sportsbook services in Nevada after being granted regulatory approval by state authorities.

The North American B2B gambling technology provider – whose board is considering its sale – said it will commence field trial operations of its GAN Sports betting platform with its Nevada customers after the platform is certified and approved.

It expects to launch in the coming months, with the platform to serve both mobile applications and retail sports betting.

Seamus McGill, chairman and interim chief executive, said: “We are very pleased and humbled to have received regulatory approval from the State of Nevada to hold a gaming licence. We are excited that we will be launching our leading-edge GAN Sports product in Nevada in the next few months.

“The Las Vegas Locals market is one of the largest and most recognisable gaming markets in the world and we are incredibly excited to be entering it.

“This is the third state where our B2B sports betting technology and trading solution, GAN Sports, will be operational and we look forward to bringing a unique and fun wagering experience to a large and growing market.”

Departure of CEO

The development in Nevada comes after a tough period for GAN, which saw the departure of long-time chief executive Dermot Smurfit in September 2022. In August, WynnBET, one of GAN’s most prominent partners, announced it was ceasing US sports betting operations in eight states.

In August, GAN said it had spoken with several prospective bidders interested in acquiring all or part of its business amid an ongoing strategic review, while it also reported a reduced net loss to $18.4m (£14.4m/€16.7m) in Q2.

The provider launched the review in Q1, looking at a “range of strategic alternatives” to improve value for GAN shareholders. The review is ongoing with a special committee on non-executive directors evaluating options for the business.

Among these options are potential sales of parts of or the entire GAN business. During Q2, the provider said it spoke to several interested parties, although it has not yet reached any sort of agreement.

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