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GAN PLC - GAN Welcomes Legalization of Sports Gambling in TN

RNS Number : 2206A
GAN PLC
28 May 2019
 

 

 

 

LONDON STOCK EXCHANGE (LSE): GAN - EURONEXT DUBLIN (EURONEXT GROWTH): GAME

 

GAN Welcomes the Legalization of Internet Sports Gambling in the State of Tennessee

 

London & Dublin - May 28, 2019: GAN 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, welcomes the signing and legalization of internet sports betting in Tennessee, allowing state-wide sports wagering exclusively via mobile and internet. Tennessee is the 12th State to legalize sports wagering in the US and the fourth to do so this year. Following the launch, 16% of the total US population will be able to place sports wagers online.

 

The Tennessee legislature passed a bill in the first week of May permitting online sports betting only on a State-wide basis, expected to commence on July 1st. The bill has now moved to the Governor, who has allowed the bill to become law without his signature. The law came into effect on May 25th.

 

There are no physical casino locations in the State of Tennessee. However, with an estimated population of 6.8 million the legalization of online sports wagering is expected to be material to GAN's business, as the Company anticipates existing clients to extend their online GAN-supported operations into the State of Tennessee in 2019.  

 

About GAN Plc

GAN is a leading business-to-business ("B2B") supplier of internet gambling software-as-a-service solutions ("SaaS") to the US land-based casino industry. The Company has developed a proprietary internet gambling enterprise software system, GameSTACK™, which it licenses principally to land-based US casino operators as a turnkey technology solution for regulated real-money internet gambling, encompassing internet gaming, internet sports gaming and virtual Simulated Gaming.  The Company has also launched digital user acquisition & retention marketing in support of the Internet Casino (https://casino.winstar.com) provided by GAN's Digital Marketing Agency in Tel Aviv, Israel.

 

GAN is listed on the London Stock Exchange (LSE: GAN) and on Euronext Dublin (Euronext Growth: GAME).

 

For more information please visit www.GAN.com.

 

 



 

For further information please contact:

 

GAN

US Investors: The Equity Group

Jameson Wang

Adam Prior

Vice President, Investor Relations & Analytics

[email protected]

+1 (310) 384-1132

212.371.8660

[email protected]

 

 

UK & Ireland Investors: Walbrook PR

 

Paul Cornelius

 

[email protected]

 

+44 20 7933 8780

 

 

Davy (Nominated Adviser, Euronext Growth Adviser and Joint Broker)

 

 

John Frain / Barry Murphy

 

 

+353 1 679 6363

 

 

 

Liberum (Joint Broker)

 

 

Neil Patel / Cameron Duncan

 

 

+44 (0) 20 3100 2000

 

 

 


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Price: 225

Market: AIM
Market Cap: £191.72 m
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