British online gaming software supplier, GameAccount Network (GAN), has announced the signing of an agreement that is to see it continue providing its innovations to American sportsbetting operator, FanDuel Incorporated.
The London-headquartered firm used an official press release to declare that the ‘material long-term deal’ will involve it remaining as FanDuel Incorporated’s ‘platform for rapid deployment of Internet casino and account services for Internet sportsbetting’ in the states of West Virginia, New Jersey and Pennsylvania.
New Jersey continuation:
GAN explained that the five-year renewal is to see FanDuel Incorporated continue utilizing its wares for the New Jersey-licensed FanDuel.com sportsbetting domain, which is offered via a partnership with Meadowlands Racetrack, alongside similar services to be aimed at the almost 15 million people in Pennsylvania and West Virginia.
Loyalty program utilization:
Dermot Smurfit, Chief Executive Officer for London-listed GAN, stated that the renewal will moreover involve FanDuel Incorporated licensing his firm’s United States-patented loyalty program technology, which allows land-based casino patrons to ‘receive loyalty points in exchange for online gambling.’ The executive proclaimed that this ‘US Patent’ innovation allows operating partners ‘to greatly enhance online engagement’ and leads to improved retention and monetization rates that increase lifetime values.
Smurfit’s statement read…
“The contract extension combined with the US Patent licensing represents a significant milestone in GAN’s United States evolution and reinforces our view that, in the heavily regulated United States online gambling market, effective and compliant ‘platforms’ are a premium component of the supply chain rather than a commodity. GAN is, therefore, very well placed to capitalize on the growth in United States online gambling markets in terms of new operator clients, new states and underlying growth momentum.”