Michigan: GAN to power online sports betting to 5 Kewadin casinos and a major US operator

GAN released Friday more information on the previously confirmed closure of certain market access arrangements with the Sault Tribe of Chippewa Indians in the state of Michigan, following the passage into Michigan law HB 4311 in December, a bill that includes provisions for the legalization of full real money online casino gaming in the state, as well as online sports betting.

In Michigan, GAN will be providing its technology platform together with certain operational services to both the tribe’s five land-based Kewadin casino properties and an existing major U.S. casino operator client of GAN that has requested anonymity pending certain regulatory approvals.

With a population of 10.0 million (3.1% of the U.S. population), the Michigan online gambling market is forecast to generate $377 million in gross operator revenue in the first 12 months of operations, increasing to $836 million in the fourth operating year, according to Regulus Partners, an international gambling consultancy.

Jeff Berman, Chief Commercial Officer of GAN, commented: "Michigan has long represented an attractive market with both Internet sports and Internet casino gaming now regulated. Our technical expertise and ‘day one’ experience in multiple U.S. Internet gambling markets will enable the Sault Tribe to capture their share of the online opportunity and we thank them for their trust in forming this relationship with GAN and our major U.S. casino operator client whose identity will be confirmed in due course. We are incredibly excited to bring real money Internet gambling to Michigan, which remains at the core of our mission, strategy and purpose in the United States."

Allen Kerridge, CEO of Kewadin Gaming Authority, stated: "The Sault Tribe of Chippewa Indians is excited to take this important step with GAN and our mutual partner to bring both retail sports to our consumers at our five casino locations in short course, in addition to Internet gaming casino on day-one when first allowed by the State of Michigan. We chose GAN and our mutual partner based on their market-leading technology and combined substantial experience serving gaming clients both online and offline."

Pennsylvania online sports betting

GAN updated the market on Monday following the publication on March 18 by the Pennsylvania Gaming Control Board (PGCB) of online gaming and sports betting financial information for February 2020 in Pennsylvania.

Online gaming win was $19.5 million last month, reflecting an increase of 39.6% from the prior sequential month, and 20.7% up from December. Total online sports betting handle was approximately $294.1 million, compared to $308.6 million in January.

Online sports wagering gross revenues were $10.8 million, down from $26.7 million in the prior month.

The company said this information will be updated and published each month, following publication by the PGCB, in order to enable the investor community to readily monitor growth of online gambling in Pennsylvania, which remains a key market for GAN.