It has also obtained a license from the Pennsylvania Gaming Control Board

GAN announces extension of Parx Casino contract into New Jersey

Parx intends to offer online sports betting and casino gaming in the state.
2019-03-11
Reading time 1:11 min
The company and Parx Casino have extended their relationship and Parx intends to offer Internet sports betting and casino gaming in the State of New Jersey subject to approval by the relevant NJ regulatory authority, as well as in the State of Pennsylvania as previously announced on July 30, 2018 with commercial launch expected in 2019.

On March 6, 2019, the Pennsylvania Gaming Control Board conditionally approved GAN as an Interactive Gaming Manufacturer, a key step for GAN which reflects the Company’s reputation and long-held commitment to transparency, compliance and probity. This license is GAN’s second gaming license in the US following the receipt of a full Casino Service Industry Enterprise license in the neighbouring State of New Jersey in April 2017.

The Pennsylvania licensing fee now payable of $10,000 is significantly lower than the Company’s previous expectations for $1M in direct licensure costs for delivering interactive gaming services to clients in Pennsylvania.

GAN further notes the conditional license by the PGCB of Betfair Interactive US for a Sports Wagering Operator License. Betfair and its parent company FanDuel Group is a client of GAN for Internet gambling services in the State of Pennsylvania as previously announced on January 10, 2019.

Maintains CY2019 Guidance As Pennsylvania Internet Gaming Market Expected to Commence in Summer 2019

Following discussions with its clientele, GAN expects the Internet gambling market in Pennsylvania to commence in Summer 2019. Based on current strong trading conditions experienced year to date and lower Pennsylvanian licensing costs, the Company remains confident in the CY2019 full year Guidance provided on January 24, 2019.

The Company expects mid-to-high double-digit percentage year on year revenue growth in FY 2019 and full year positive EBITDA1, based on the current fixed cost base. The Board does not anticipate any additional capital requirement on the

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