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    GAN   BMG3728V1090

GAN LIMITED

(GAN)
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GAN : Technology Solution Now Powering Online Sports Betting for Churchill Downs Incorporated in Arizona

09/17/2021 | 07:42am EDT

Marks GAN's First Sportsbook Platform Customer in the State of Arizona

Irvine, California | September 17, 2021: GAN Limited (the 'Company' or 'GAN') (NASDAQ: GAN), a leading full-service internet gaming software-as-a-service provider to the real money internet gaming, online sports betting, and simulated gaming industries, today announced that GAN-powered TwinSpires, Churchill Downs Incorporated's online wagering platform for sports, has commenced operations in the state of Arizona. This announcement brings the GAN platform to Arizona for the first time and leverages the Company's 'multi-state, one app' approach for a more seamless launch process and convenient player experience. GAN is currently licensed in nine states, operational for sports betting in six states, and operational for real money casino gaming in four states.

Dermot Smurfit, Chief Executive Officer of GAN, commented:

'We're very excited to enter the Arizona online sports betting market with Churchill Downs Incorporated as we continue to expand into new viable and legal markets and scale our B2B solutions. The GAN team launched our customers in five new states this year, including Michigan, Tennessee, Colorado, West Virginia, and Arizona. The momentum in our U.S. B2B business continues to build with new states, clients, and product offerings, including our Super RGS along with GAN Sports.'

About GAN Limited

GAN is a leading business-to-business supplier of internet gaming software-as-a-service solutions predominantly to the U.S. land-based casino industry. Coolbet, a division of GAN, is a market-leading operator of proprietary online sports betting technology with market leadership positions in select European and Latin American markets. GAN has developed a proprietary internet gaming enterprise software system, GameSTACK™, which it licenses to land-based casino operators as a turnkey technology solution for regulated real money internet gaming, encompassing internet gaming, internet sports gaming, and virtual Simulated Gaming. Additional information about GAN can be found online at www.GAN.com.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements, including statements regarding future business opportunities as well as statements that include the words 'expect,' 'intend,' 'plan,' 'believe,' 'project,' 'forecast,' 'estimate,' 'may,' 'should,' 'anticipate' and similar statements of a future or forward-looking nature. These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Please refer to the Company's annual, quarterly and current reports filed on Forms 10-K, 10-Q and 8-K from time to time with the Securities and Exchange Commission for a further discussion of the factors and risks associated with the business. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update or revise any forward-looking statements for any reason, except as required by law.

Investor Contacts:

GAN
Robert Shore
Vice President, IR and Capital Markets
(610) 812-3519
[email protected]

Alpha IR Group
Ryan Coleman or Ashley Gruenberg
(312) 445-2870
[email protected]

Disclaimer

GAN Ltd. published this content on 17 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 September 2021 11:41:03 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2021 131 M - -
Net income 2021 -16,1 M - -
Net cash 2021 50,7 M - -
P/E ratio 2021 -40,3x
Yield 2021 -
Capitalization 647 M 647 M -
EV / Sales 2021 4,56x
EV / Sales 2022 3,41x
Nbr of Employees 245
Free-Float 89,5%
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Number of Analysts 5
Last Close Price 15,39 $
Average target price 23,80 $
Spread / Average Target 54,6%
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Managers and Directors
Dermot Stopford Smurfit President, Chief Executive Officer & Director
Karen Flores Chief Financial Officer, Director & Executive VP
Seamus M. McGill Non-Executive Chairman
Simon Knock Chief Information Officer & Executive VP
Donald Ryan Chief Operating Officer & Executive VP
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