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GAN PLC

GameAccount Network has Lady Luck on its side

It is teaming up with Lady Luck Interactive, part of the NASDAQ-listed Capri Casinos group.

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Kerching! Yet another customer for GameAccount.

GameAccount Network (LON:GAME) has struck a deal to supply its online services to a major US casino chain.

It is teaming up with Lady Luck Interactive, part of the NASDAQ-listed Capri Casinos group.

The plan is to roll out Lady Luck simulated gaming using the AIM-listed tech firm’s platform.

It may sound barmy, but simulated gaming of this kind, where players buy and spend virtual currency on slots and at the tables, appears to have legs.

For GameAccount (GAN), which provides the technology used by land-based casinos to move online, it represents a significant potential revenue stream, particularly in the US, where online gaming is largely illegal.

It was initially seen as a place-holder while online ‘real money’ gambling was incrementally legalised and regulated in the way that’s taking place in New Jersey.

But it is turning out to be a significant revenue generator in its own right.

GAN earns its cash by taking a cut of the revenue its gaming platforms help generate. However it also makes one-off system sales to slot machine companies looking to move their libraries online.

Today’s is the sixth major deal it has signed since announcing the ‘exit’ from its agreement with gaming giant Foxwoods, one of America’s largest casino resorts.

Quick facts: GAN PLC

Price: £0.64

Market: AIM
Market Cap: £54.53 m
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