GAN Announces Launch of GAN Sports with Red Rock Resorts, Inc. under the STN Sports Brand

Rhea-AI Summary

GAN Limited (NASDAQ: GAN) announced that Red Rock Resorts, Inc. has commenced field trials of GAN Sports under the STN Sports brand at all properties of Station Casinos LLC. The platform's utilization of a single wallet for race and sports allows players the ease and convenience of an accessible central location for their playing experience. Following successful field trials, Station Casinos plans to integrate an all-new kiosk system for funding, placing wagers, and for the introduction of the 'Bring-Your-Own-Device' that allows bettors to build out their ultimate bet in the app and scan it at the kiosk to activate the bet.

Insights

Market Research Analyst

The commencement of field trials by Red Rock Resorts, Inc. for the GAN Sports platform under the STN Sports brand represents a significant step in GAN Limited's expansion into the sports betting market. The integration of a single wallet for race and sports betting is a strategic move that aligns with current consumer preferences for convenience and accessibility. The emphasis on a seamless mobile app experience, with the promise of an extensive wagering menu and innovative betting options, indicates a focus on user engagement and retention.

From a market perspective, the success of these trials and subsequent rollout could potentially increase GAN's market share and strengthen its position as a technology provider in the competitive online gaming and sports betting industry. The partnership with Station Casinos, a well-established entity in the Nevada market, may serve as a valuable endorsement for GAN's platform, potentially attracting other clients and boosting investor confidence.

However, the market for online gaming and sports betting is subject to regulatory risks and intense competition. The performance of GAN's platform in the field trials and its ability to deliver a personalized and enhanced betting experience will be critical in determining its long-term success and impact on the company's financials.

Financial Analyst

GAN Limited's announcement of field trials with Station Casinos is a development that could have material financial implications for the company. The successful certification of GAN's GameSTACK 2.0 Platform and the potential integration of a new kiosk system signify product advancements that could lead to increased revenue streams. The ability to offer a 'Bring-Your-Own-Device' feature and an all-new kiosk system could differentiate GAN's offering, potentially leading to a higher adoption rate and increased transaction volumes.

Investors should monitor the outcome of these field trials closely, as they serve as a precursor to wider deployment and adoption of GAN's sports betting technology. A successful trial could result in a full-scale rollout across Station Casinos' properties, which would likely contribute positively to GAN's top-line growth. On the other hand, any setbacks or delays could dampen investor sentiment and affect the company's stock performance.

Furthermore, the market should consider the scalability of GAN's technology and its capacity to support a growing user base, as these factors will be crucial in sustaining long-term growth and profitability. The financial impact of these developments will become clearer as GAN reports future earnings and provides updates on the adoption and performance of its sports betting platform.

Legal Expert

The field trials of GAN Sports under the STN Sports brand at Station Casinos' properties involve regulatory considerations that are vital for GAN Limited's business operations. The certification of GAN's GameSTACK 2.0 Platform indicates compliance with existing gaming regulations, which is a prerequisite for entering and operating in the highly regulated sports betting market. The legal landscape of online gambling and sports betting is complex and varies by jurisdiction, making regulatory compliance a significant factor in the company's ability to expand and operate without legal setbacks.

Successful field trials may also set a precedent for future regulatory approvals in other jurisdictions, potentially aiding GAN's expansion efforts. However, any regulatory changes or challenges could impact the deployment of GAN's sports betting solutions and affect the company's strategic partnerships.

Stakeholders should be aware of the ongoing legal and regulatory developments in the sports betting industry, as they can have a direct impact on GAN's operations and financial performance. Companies in this space must continuously navigate regulatory requirements to maintain their competitive edge and ensure long-term viability.

Field trials currently in progress across all Station properties

IRVINE, Calif.--(BUSINESS WIRE)-- GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading North American B2B technology provider of real money internet gaming solutions and a leading International B2C operator of Internet sports betting, today announced that Red Rock Resorts, Inc. has commenced field trials of GAN Sports under the STN Sports brand at all properties of Station Casinos LLC (“Station Casinos”). The field trial commenced with the certification of GAN’s GameSTACK 2.0 Platform.

GAN Sports brings a seamless and innovative experience for players. The platform’s utilization of a single wallet for race and sports allows players the ease and convenience of an accessible central location for their playing experience. The all-new STN Sports mobile app includes Nevada’s largest wagering menu, same game parlay wagering options, higher parlay payouts, a single wallet for race and sports, and a variety of game-changing features set to roll out in early 2024.

Following successful field trials, Station Casinos plans to integrate an all-new kiosk system for funding, placing wagers and for the introduction of the “Bring-Your-Own-Device” that allows bettors to build out their ultimate bet in the app and scan it at the kiosk to activate the bet. Guests will also have the ability to bet via a desktop website and experience a personalized wagering experience with free bets, odds boosts and matches of the day.

Seamus McGill, Interim CEO of GAN, commented:

“We’re very excited to finally launch our platform in the Las Vegas locals’ market. We expect a successful launch as locals experience the innovative and cutting-edge experience that our platform brings. We are very grateful to have a premier partner like Station Casinos who have an unrivaled reputation in the Nevada market. We look forward to serving their guests and bringing a fun, safe and game changing player experience.”

Jason McCormick, Vice President of Race and Sports at Station Casinos, added:

“The arrival of the all-new STN Sports App, powered by GAN, brings an enhanced and personalized wagering experience for our guests and we look forward to continuing the rollout of our enhanced mobile product and introducing additional wagering options for our guests in the coming months.”

About GAN Limited

GAN is a leading business-to-business supplier of internet gaming 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 select European and Latin American markets. GAN has developed a proprietary internet gaming enterprise software system, GameSTACK™, which it licenses to land-based casino operators as a turnkey technology solution for regulated real money internet gaming, 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, without limitation, statements regarding the Company’s strategic review, potential transactions, the Company’s anticipated trends in revenues (including new customer launches) and operating expenses, the anticipated improvement in profitability, the anticipated launch of regulated gaming in new U.S. states, the continued integration of Coolbet’s sports betting technology and international B2C operations, 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 including those risks detailed under “Risk Factors” in our Annual Report on Form 10-K and subsequent periodic reports. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231227130669/en/

Investor:

GAN

Robert Shore

Vice President, IR and Capital Markets

(610) 812-3519

rshore@GAN.com

Alpha IR Group

Ryan Coleman or Davis Snyder

(312) 445-2870

GAN@alpha-ir.com

Source: GAN Limited

FAQ

What did GAN Limited announce?

GAN Limited (NASDAQ: GAN) announced that Red Rock Resorts, Inc. has commenced field trials of GAN Sports under the STN Sports brand at all properties of Station Casinos LLC.

What is the new feature of the STN Sports mobile app?

The all-new STN Sports mobile app includes Nevada’s largest wagering menu, same game parlay wagering options, higher parlay payouts, a single wallet for race and sports, and a variety of game-changing features set to roll out in early 2024.

Who is the Vice President of Race and Sports at Station Casinos?

Jason McCormick is the Vice President of Race and Sports at Station Casinos.