GAN, a major British-based supplier of enterprise-level B2B Internet gaming software, services and online gaming content today announced a formal deal with Parx Casino, owned by Greenwood Gaming & Entertainment, Inc., to offer Pennsylvania sports betting in both the retail and online markets in the Commonwealth of Pennsylvania.
Parx Casino, located in Bensalem about 20 miles northeast of Philadelphia, had previously filed a petition with the Pennsylvania Gaming Control Board (PGCB) confirming its intention to launch Internet gaming online in the state, identifying GAN as their wagering software platform provider.
GAN says it will receive a portion of the sports betting revenues generated both within the casino and online. Sports wagering is expected to arrive in Pennsylvania this year, but potential local operators are balking at the $10 million licensing fee and 36 percent tax rate that’s currently in place.
Pennsylvania Sports Betting Still Awaiting Final Regulations Amid Prohibitive Tax and Licensure Plan, But Parx Casino Takes Steps With An Eye Toward Future
Sports betting statewide could generate in excess of $100 million in gross win, according to some estimates, in the first 12 months alone. Sports betting online via the Internet is forecast to add an additional $189 million in the same period.
John Dixon, CTO of Greenwood Gaming & Entertainment, Inc. said,
“GAN has ably demonstrated it abilities with both its overall platform and its integration capability for existing major clients. By leveraging GAN’s platform, Parx Casino will have the opportunity to launch retail and online regulated sports betting together with online gaming in Pennsylvania later this year, subject to the regulatory approval of the PGCB.”
[Also See: Pennsylvania Sports Betting Game of Chicken Continues]
GAN is listed on the ESM Market of the Irish Stock Exchange and the AIM Market of the London Stock Exchange under the ticker: GAN.
GAN has fourteen (14) casino operators as clients of simulated gaming platform in the US and internationally, including two clients of real money regulated gaming in New Jersey.
Last week GAN announced its mobile sport wagering platform would be used for New Jersey sports betting by the FanDuel Group, current operators of the sports book at The Meadowlands in New Jersey, when the group obtains approval for its platform from the New Jersey Division of Gaming Enforcement.
The FanDuel Sportsbook is currently using IGT software for over-the-counter sports betting. GAN says, as in Pennsylvania, it will share in incremental sports betting revenues for online betting at The Meadowlands.