GAN Receives New Jersey CSIE License Award
GAN plc, an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, today announces the grant of its first privileged gaming license in the US issued to GAN by the New Jersey Division of Gaming Enforcement (“NJDGE”). This establishes the suitability of GAN, its major shareholders, directors and key employees to conduct regulated Internet gaming business in New Jersey. In parallel, this important milestone strongly positions GAN to obtain licenses in other US States which may elect to regulate real money Internet gaming in the future.
GAN submitted an initial license application in 2013 and has supported the NJDGE in undertaking customary and necessary investigations into GAN’s current and historic business activities, major shareholders, directors and key employees.
Dermot Smurfit, CEO of GAN commented:
“We have long maintained that a key benefit of choosing GAN is the guaranteed integrity and strong compliance profile of our current and historic business activities, clean source of investment funds and the unquestioned suitability of our major shareholders, directors and employees to be licensed in New Jersey. Here is the proof of those long-standing statements. GAN has been thoroughly and professionally investigated by the NJDGE and we welcome the grant of our first privileged gaming license in the United States. In the heavily regulated world of Internet gaming, the significance of this gaming license cannot be underestimated and is a major asset for our Company and will deliver our shareholders significant value over time.”
FAQ’s about GAN’s real money online Regulated Gaming
GAN is among the first B2B technology providers to secure a CSIE license in New Jersey.
Launched in the US by Betfair on GAN’s technology platform in November of 2013 www.BetfairCasino.com has established itself as one of the most successful independent Internet casino operators in New Jersey and publicly reports its Internet gross gaming revenues each month under the Golden Nugget Atlantic City casino license.
Regulated real money Internet gaming in New Jersey achieved $21.75m in Gross Gaming Revenue in March 2017, up +40% compared to this time last year. In 2016, New Jersey’s Internet gaming market generated total Gross Gaming Revenues was $197m, an +32% increase from $149m in the prior year 2015.
Industry analysts and press reports widely predict the regulation of Internet gaming in New Jersey’s neighbouring State of Pennsylvania where GAN has secured the #1 ‘brick & mortar’ gaming operator, Parx Casino, as a client in the event Pennsylvania does proceed to regulate Internet gaming. The population of Pennsylvania is approximately +43% larger than the population of New Jersey and Internet gaming could commence in early 2018 in the event enabling legislation is passed in Pennsylvania on or before June 30, 2017.