GAN Sports Betting Platform to Enter Nevada Market Soon

GAN, a prominent B2B gambling technology provider, is all set to make its mark in the Nevada gaming market. The company has announced its plans to commence field trial operations for its GAN Sports betting platform in collaboration with its Nevada customers. This endeavor follows the platform's certification and approval, paving the way for its official launch. GAN's cutting-edge GAN Sports product will soon be available to both mobile applications and retail sports betting enthusiasts in the state.

Seamus McGill, the Chairman and interim Chief Executive of GAN, expressed his delight and gratitude at receiving regulatory approval for a gaming license in Nevada. He stated, "We are excited to launch our leading-edge GAN Sports product in Nevada in the next few months. The Las Vegas Locals market is one of the largest and most recognizable gaming markets in the world, and we are incredibly excited to be entering it. This is the third state where our B2B sports betting technology and trading solution, GAN Sports, will be operational, and we look forward to bringing a unique and fun wagering experience to a large and growing market."

The journey to Nevada has not been without its challenges. GAN witnessed the departure of its long-time Chief Executive, Dermot Smurfit, in September 2022. Furthermore, in August, one of GAN's prominent partners, WynnBET, announced the cessation of its US sports betting operations in eight states. GAN responded to these challenges by initiating a strategic review in Q1, exploring various alternatives to enhance value for its shareholders. The review is ongoing, with a special committee of non-executive directors evaluating potential options for the business.

As part of the strategic review, GAN has engaged in discussions with several prospective bidders interested in acquiring all or part of its business. While some progress has been made, no formal agreement has been reached as of yet. The company reported a reduced net loss of $18.4 million in Q2, indicating its commitment to overcoming challenges and exploring opportunities for growth.

GAN's entry into the Nevada market represents a significant milestone for the company, and its determination to expand its presence in the US sports betting landscape remains unwavering.