Game Account Network (GAN), iGaming content developer and software provider has made a colossal leap towards servicing a lion's share of online casino market in Italy by forming a business alliance with Goldbet.
This online casino and sports betting operator contributes to the Italian market with almost half of entire online gaming revenue...
...which is making it clear just how significant signing of this contract is for GAN.
The Operator That Holds the Key to Success
Goldbet's iGaming offering holds a market share of circa 3% and the company itself has over 900 betting shops throughout the country.
A consequence of this partnership agreement is that GAN's clientele in Italy rose to account 45% of total GGR generated on annual level. Italian market is not a novelty for them, as they already have ongoing partnerships with Snaitech and Sisal.
GAN's revenue in Italy totaled $2.2 million in first six months of 2018, which is a little under 40% of their total period in the same period, which just goes to show how important this country's market is for them. The company's overall revenue was up 11% in this period.
It was also published that client revenue was up 40% on annual level, to $26.7 million in the third quarter (in second quarter, it was $24 million). This was largely boosted by their sports betting alliance with FanDuel in New Jersey and a supply deal with Ocean Resort Casino in Atlantic City.
Going For Monopoly
Dermot Smurfit, GAN's CEO, comments: “GAN continues to win major clients in Italy by delivering an increasing number of high-quality internet casino games to our Italian clients, carefully procured from independent casino game design studios worldwide as well as major land-based casino equipment manufacturers."
He added that GAN's distribution reach extends half of regulated Italian online casino market.
Prior to this deal, GAN has announced an agreement with Malta-based slot supplier Booming Games according to which they will deliver their full portfolio of software solutions. That includes 30 HTML5 video slots who will be presented a new, wider audience.
The company has had a tremendously successful year in the USA:
Thanks to the increase of sports betting activities, they have reported a 13.3% year-on-year increase during the three-month period ending with September 30th . That is also a significant improvement from Q2 - 8.6%.
Meanwhile, the Italian market has continued its steady growth with the addition of another key brand in the business...
...Namely, Play'n GO has gone live on the Italian market with online poker giant, PokerStars after signing a multi-year agreement.
Source:
"GAN expands Italian presence with Goldbet", igamingbusiness.com, November 26, 2018.
BralasLT
5 years ago
Newbie
Godspeed, GAN - here's to a successful business in Italy. Although I can see it's already going well.
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