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SBTech and GAN establish partnership for US sports betting

15 January 2018

(PRESS RELEASE) -- SBTech, the leading supplier of sports betting solutions to the online betting and gaming industry in regulated markets worldwide, has launched a strategic relationship with GAN, a major B2B supplier of internet gaming enterprise software-as-a-service solutions to the U.S. land-based casino industry.

SBTech will now supply real-money sports betting services to GAN's diverse portfolio of U.S. casino operator clients.

SBTech's sports betting solution will be integrated with GAN's GameSTACK enterprise software platform and delivered to players through both online and retail channels. GAN's clients in the U.S. represent more than 70 casino properties from coast to coast, generating annual revenues in excess of US$8 billion in land-based casino gaming.

The partnership places both SBTech and GAN in a strong position in the event that the Supreme Court of the U.S. overturns or otherwise modifies the current federal prohibition on sports betting, enshrined in the Professional and Amateur Sports Protection Act 1992, following the sports betting hearing headed up by the state of New Jersey on 4 December.

Richard Carter, CEO of SBTech, commented, "GAN is a licensed, trusted partner to more than a dozen U.S. casino operators and is equipped with unique intellectual property and a proven track record in delivering and growing internet gaming businesses in the U.S. 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 U.S. casinos with a view to being the first provider to settle a U.S. sports bet online and on-property in States such as New Jersey and Pennsylvania, in close collaboration with GAN."

Dermot Smurfit, CEO of GAN, commented, "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. We have conducted a lengthy diligence process in Europe to identify a preferred sports betting partner based on their technical capability, U.S. 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."

FAQs about U.S. regulation and GAN's real money online regulated gaming business:
  • In the event PASPA is overturned by SCOTUS in H1 2018, the U.S. market opportunity for retail, online and mobile sports betting deployed on-property and online is expected to exceed US$6 billion by 2023 (source: Eilers & Krejcik Gaming, LLC November 2017).
  • Internet gaming was effectively outlawed in the U.S. in October 2006 by the Unlawful Internet Gaming Enforcement Act, prohibiting financial institutions from processing internet gaming payments.
  • In 2013, three U.S. States passed laws to regulate internet gaming within their borders: Nevada (population 2.8 million), Delaware (less than one million) and New Jersey (8.9 million), comprising a total of 12.6 million people and representing less than 4% of the U.S. population (324 million). In the neighboring State of New Jersey (population nine million), the internet gaming market commenced in November 2013 and generated US$197 million in gross revenues in calendar year 2016, representing 8.2% of the U.S. 2.4 billion in land-based gross gaming revenues generated by New Jersey's eight casino properties operational, in full or in part, throughout 2016.
  • 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 SCOTUS.
  • Pennsylvania has a population of 12.8 million, which more than doubles the number of Americans who will be legally permitted to wager real money on internet casino games following the commencement of Regulated Gaming in the State of Pennsylvania, anticipated in the first half of 2018.
  • Real money online Regulated Gaming for GAN comprises wholly regulated and U.S.-compliant internet gaming where end-user players resident in wholly legal jurisdictions deposit and wager real money while playing casino games online.
  • GAN received its first full U.S. gaming licence in April 2017, awarded by the State of New Jersey.

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SBTech and GAN establish partnership for US sports betting is republished from iGamingNews.com.