GAN targets US sports betting with SBTech partnership
Two firms aim to capitalize on a potential $6bn market should PASPA be invalidated
GAN has announced plans to offer sports betting services to its US partners after integrating SBTech’s sports betting solution into its platform.
GAN has more than 70 casino properties among its US clients, generating more than $8bn in land-based gaming revenues. The firm also provides the platform for Betfair’s New Jersey casino.
The two providers said the deal puts them in a “strong position” should the Supreme Court invalidate PASPA this spring.
“GAN has been asked by several clients to review, procure and support the delivery of a sports betting solution both online and in the on-property retail channel in the event PASPA is overturned,” said Dermot Smurfit, CEO of GAN.
“We have conducted a lengthy diligence process in Europe to identify a preferred sports betting partner based on their technical capability, US licensing suitability, ability to integrate seamlessly with GAN’s enterprise software platform and the sophistication of their managed sports services. We are delighted to announce this strategic relationship with SBTech.”
The agreement is also the first major US-facing partnership for SBTech after the provider announced plans to establish a US office late last year.
The US market opportunity for retail, online and mobile sports betting deployed on-property and online could to exceed $6bn by 2023 according to Eilers & Krejcik Gaming.
Richard Carter, CEO of SBTech, said: “GAN is a licensed, trusted partner to more than a dozen US casino operators, and is equipped with unique intellectual property and a proven track record in delivering and growing internet gaming businesses in the United States.
“This partnership is a logical step for SBTech and allows the company to rapidly introduce its sports betting technology and services to a wide range of US casinos with a view to being the first provider to settle a US sports bet online and on-property in States such as New Jersey and Pennsylvania, in close collaboration with GAN.”
Both New Jersey and Pennsylvania have passed legislation enabling existing internet gaming operators to launch online sports betting in the event PASPA is overturned by the Supreme Court.
Twelve states in total have introduced some form of bill to allow sports betting.