GAN delivers uninterrupted technical performance with over 14 million bets processed on the day of Super Bowl LV and secur.
- Fantasy sports and sports betting operator DraftKings said Monday it is offering 32 million shares in a syndicated deal, while gambling software maker GAN announced a deal with Wynn Resorts.
- 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.
- Zacks News for GAN No Record found. Company Summary. GAN Limited is a business-to-business supplier of internet gambling software-as-a-service solutions predominantly to the U.S.land-based casino.
IRVINE, Calif.--(BUSINESS WIRE)--GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading business-to-business supplier of internet gambling software-as-a-service solutions to the U.S. land-based casino industry, today announced that Wynn Resorts, Limited (“Wynn”) (NASDAQ: WYNN) has engaged GAN in a 10-year agreement to be the enterprise software platform for its Internet sports betting and Internet casino gaming business in the State of Michigan. The Company expects to launch Wynn online in Michigan alongside the first regulated online gambling operators in November 2020, subject to all regulatory approvals. The Michigan launch between GAN and Wynn will be a part of the market access agreement between GAN and the Sault Ste. Marie Tribe of Chippewa Indians, who operate five casinos under the Kewadin Casinos brand in Michigan, announced on March 27, 2020.
By leveraging GAN’s U.S.-optimized enterprise software, proven get-to-market capability and on-property reward program integration capability, Wynn will be well-positioned as an early mover in the state of Michigan following its commencement of online gaming activities. Furthermore, as a major national casino brand operating casinos in both Las Vegas and Boston Massachusetts, Wynn has a substantial database of patrons’ resident within the Michigan region to cross-market to Internet gambling.
Together with a market-leading range of Internet casino games developed by GAN and/or aggregated from third parties, GAN will publish third-party sports betting content procured from a third-party sports betting content provider augmented by Wynn’s strategic partner Betbull Limited.
Jeffrey B. Berman, Chief Commercial Officer of GAN, commented:
“We look forward to powering the Wynn brand in Michigan with our highly optimized technology platform and enabling Wynn to efficiently invest their marketing capital to attract loyal sports betting and iGaming players. We are pleased to onboard Wynn, with its national casino brand and substantial Michigan-region patron base, as a major operator client and are excited at the opportunity presented by potential roll-outs in multiple additional states in the future.”
Forward-Looking Statements
This press release contains forward-looking statements that are subject to the safe harbors created under federal securities laws. Words such as “anticipate,” “believe,” “expect,” “intend,” “may,” “will,” and similar expressions are intended to identify forward-looking statements. The forward-looking statements in this press release include, without limitation, statements regarding the roll-out of Wynn product offerings in Michigan and future business opportunities with Wynn, 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 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. 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. GAN undertakes no obligation to update or revise any forward-looking statements for any reason, except as required by law.
About GAN Limited
GAN is a leading business-to-business supplier of internet gambling software-as-a-service solutions to the U.S. land-based casino industry. GAN has developed a proprietary internet gambling enterprise software system, GameSTACK™, which it licenses principally to land-based U.S. casino operators as a turnkey technology solution for regulated real-money internet gambling, encompassing internet gaming, internet sports gaming and virtual Simulated Gaming.
About Wynn Resorts
Wynn Resorts, Limited is traded on the Nasdaq Global Select Market under the ticker symbol WYNN and is part of the S&P 500 Index. Wynn Resorts owns and operates Wynn Las Vegas (wynnlasvegas.com), Encore Boston Harbor (encorebostonharbor.com), Wynn Macau (wynnmacau.com), and Wynn Palace, Cotai (wynnpalace.com).
The American Roulette wheel rules include 38 pockets in total. Respectively, the table layout features an additional 'double-0' area along with the regular '0' and the other 36 black and red numbers. Accordingly, the arrangement and the sequence of the numbers on the American wheel are different. Us roulette wheel. US Roulette Wheel. US Roulette Wheel – A good strategy to apply on an American Roulette table (or basically any Roulette table) is the so-called Martingale Strategy. One of the most famous and widely used Roulette strategies – the Martingale system – is a great example of a progressive strategy. Martingale suggests that you double your bet after every loss. The American roulette wheel is the most notable difference. With a pocket for the 0 and also a 00, the American version has a higher house advantage at 5.26%. Another interesting difference is that the numbers on the American roulette wheel are placed in pairs opposite to each other while the European numbers are spaced randomly along the wheel. There are several rules in the European version also.
Zacks Investment Research lowered shares of GAN (NASDAQ:GAN) from a buy rating to a hold rating in a research report report published on Tuesday, Zacks.com reports.
Gan Online Gambling
According to Zacks, “GAN Limited is a business-to-business supplier of internet gambling software-as-a-service solutions predominantly to the U.S.land-based casino industry. It developed a proprietary internet gambling enterprise software system, GameSTACK(TM), which it licenses to land-based casino operators as a turnkey technology solution for regulated real-money internet gambling, encompassing internet gaming, internet sports gaming and virtual Simulated Gaming. GAN Limited is based in London, United Kingdom. “
Other analysts have also issued reports about the company. B. Riley restated a buy rating and issued a $27.00 target price (down from $28.50) on shares of GAN in a research note on Tuesday, November 17th. Northland Securities restated a buy rating and issued a $30.00 price objective on shares of GAN in a research report on Monday, October 5th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. GAN currently has a consensus rating of Buy and a consensus target price of $27.00.
Shares of GAN stock opened at $26.88 on Tuesday. The firm’s 50-day moving average price is $21.90 and its two-hundred day moving average price is $17.83. GAN has a 1-year low of $10.60 and a 1-year high of $28.95.GAN (NASDAQ:GAN) last announced its earnings results on Sunday, November 15th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.16). GAN had a positive return on equity of 0.61% and a negative net margin of 24.35%. The business had revenue of $10.27 million during the quarter, compared to analyst estimates of $10.33 million. As a group, equities analysts anticipate that GAN will post -0.08 EPS for the current year.
In other news, EVP Jeffrey Bruce Berman sold 30,000 shares of the business’s stock in a transaction on Monday, January 11th. The stock was sold at an average price of $22.01, for a total transaction of $660,300.00. Following the completion of the sale, the executive vice president now owns 349 shares in the company, valued at $7,681.49. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Hedge funds and other institutional investors have recently modified their holdings of the company. GWM Advisors LLC raised its stake in shares of GAN by 4.0% during the third quarter. GWM Advisors LLC now owns 20,800 shares of the company’s stock worth $352,000 after buying an additional 800 shares during the last quarter. Jacobi Capital Management LLC bought a new stake in shares of GAN during the 3rd quarter valued at $51,000. Mercer Global Advisors Inc. ADV raised its position in shares of GAN by 46.5% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 11,814 shares of the company’s stock valued at $200,000 after acquiring an additional 3,752 shares during the last quarter. Strs Ohio lifted its stake in shares of GAN by 210.5% in the 4th quarter. Strs Ohio now owns 5,900 shares of the company’s stock valued at $119,000 after purchasing an additional 4,000 shares during the period. Finally, PNC Financial Services Group Inc. bought a new position in shares of GAN in the 2nd quarter worth $116,000. 26.05% of the stock is currently owned by institutional investors.
GAN Company Profile
GAN Limited operates as a business-to-business supplier of internet gambling software-as-a-service solutions to online casino gaming and online sports betting applications in the United States. It offers and licenses GameSTACK, a proprietary internet gambling enterprise software system as a turnkey technology solution for regulated real-money internet gambling, encompassing internet gaming, internet sports gaming, and virtual simulated gaming.
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Gan Gambling Company
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