29/06/16: GAN Welcomes Approval of Regulated Real-Money iGaming in Pennsylvania

GAN Welcomes Approval of Regulated Real-Money iGaming in Pennsylvania

London & Dublin | June 29, 2016: GameAccount Network plc ('GAN' or the 'Company'), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today welcomes the approval of a bill by The House of Representatives in Pennsylvania that includes provisions for the legalisation of full real money Internet casino gaming in the state.

The bill titled HB 2150 was approved by the House of Representatives on its third consideration yesterday and has now gone to the Senate for their approval and, if approved by the Senate, will be presented to the Governor of Pennsylvania for signing into law.

Dermot Smurfit, CEO of GAN commented on the development:

'This approval is a significant step in support of continued regulation of Internet gaming in America. We are delighted to welcome yesterday's approval of HB 2150 by The House of Representatives in Pennsylvania, long-anticipated to become America's fourth State to regulate Internet casino gaming.

Passage of this bill into law will allow us to commence real money Internet casino gaming from our enterprise-level Internet gaming platform already deployed on-property for Pennsylvania's largest land-based casino and currently delivering Simulated Gaming integrated with the property's reward program in preparation for regulated real money Internet gaming.

We are one of the few European internet gaming companies with significant experience in the US land-based casino Industry and we are extremely well positioned to continue with our stated strategy of providing our award-winning Internet gaming system for real-money gaming in America's regulated markets.

The anticipated passing of bill HB 2150 will be a very positive development for GAN.'

Highlights

• Pennsylvania has a population of 12.8m, which will more than double the current addressable market for regulated intra-State real money Internet gaming in Nevada, Delaware and New Jersey, which together have a combined population of approximately 12.6m.

• In the neighbouring State of New Jersey (pop. 9.3m) the Internet gaming market generated $148m in gross Internet gaming revenues in 2015 after market commencement in November 2013. GAN currently has two clients for its GameSTACK™ Internet gaming system in New Jersey.

• Simulated Gaming™ is an innovative Internet gaming service designed by GAN specifically for land-based US casinos to launch online in advance of regulation of intra-State real money Internet gaming, offering a gaming-as-entertainment experience across web, mobile and VR together offering over 200 casino slot and table games, including poker, backgammon, gin rummy, poker dice, blackjack tournaments and slot tournaments.

• Regulation of Internet gaming in Pennsylvania signals the possible continuance of the regulatory cycle approving Internet gaming in incremental US States. Michigan, California and New York are all considering regulation of one or more forms of Internet gaming. GAN has existing US casino operator clients of Simulated Gaming with casino properties located in each of these three US States considering regulation of intra-State real money Internet gaming.

www.GAN.com