Irvine, California (May 24, 2021) — GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), the leading full-service internet gambling enterprise software-as-a-service provider to the U.S. retail casino industry, today announces that it has entered into binding agreement with the Saginaw Chippewa Indian Tribe of Michigan, who own and operate Soaring Eagle Casino & Resort (“Soaring Eagle”).
Soaring Eagle Casino & Resort is the largest casino in the State of Michigan, with an expansive 210,000 square-foot casino facility that offers thousands of slot machines and the widest variety of floor games available in the Midwest. It also possesses an extremely sizeable database of patrons, who the parties anticipate converting into active online players via GAN’s patented iBridge loyalty platform.
Under the terms of the Agreement, GAN will deploy the Company’s GameSTACK™ enterprise software Platform onto the client’s infrastructure deployed on-property. GAN will also collaborate with the client to design and develop their iGaming and sports betting front-end web application together with counterpart native Apple iOS and Android apps. GAN will deploy the Company’s patented iBridge Framework to optimally monetize the Soaring Eagle patron database and leverage their on-property retail loyalty program.
The announcement marks GAN’s fourth client in the state of Michigan and adds to the Company’s growing list of valued tribal clients. This also marks GAN’s ninth client for U.S. real money iGaming and online sports betting in the U.S. For investors, this new GAN client represents the core customer constituency in the U.S. – major regional casino operators, both Tribal and commercial – seeking access to a fast-to-market deployment of a proven enterprise technology solution for launching and developing a competitive product offering across both iGaming and sports betting.
Dermot Smurfit, Chief Executive Officer of GAN, noted:
“We are thankful for Soaring Eagle’s confidence in our B2B platform offering and the opportunity to partner together. We look forward to powering the Soaring Eagle brand in Michigan with our highly optimized technology platform and enabling them to efficiently attract loyal sports betting and iGaming players. The Michigan market is off to a great start with expectations that it will surpass $1 billion in gross operator revenue in its first twelve months of operations. Given Soaring Eagle’s strong brand, sizeable database and experience, we expect them to capture their fair share when they launch this fall.”
David Charles, Chief Operating Officer of Soaring Eagle, added:
“We are excited to leverage GAN’s proven Michigan platform capability and expertise to introduce an exciting online casino and sportsbook, which will allow us a new way to engage with our patrons. GAN has a proven solution and has demonstrated their ability to bring their platform to market quickly in Michigan. We look forward to collaborating with the team at GAN and our shared future together.”
About GAN Limited
GAN is a leading business-to-business supplier of internet gambling software-as-a-service solutions predominantly to the U.S. land-based casino industry. Coolbet, a division of GAN, is a market-leading operator of proprietary online sports betting technology with market leadership positions in selected European and Latin American markets. GAN has developed a proprietary internet gambling enterprise software system, GameSTACK™, which it licenses to land-based casino operators as a turnkey technology solution for regulated real money internet gambling, encompassing internet gaming, internet sports gaming and virtual Simulated Gaming. Additional information about GAN can be found online at www.GAN.com.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements, including statements regarding future business opportunities as well as statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate” and similar statements of a future or forward-looking nature. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the 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.