GAN extends Parx Casino contract into New Jersey
Besides its intention to offer online sports betting in the state, the company also expects mid-high double-digit percentage revenue growth.
Developer and supplier GAN has announced that it has extended its relationship with Parx Casino in order to allow the Parx to offer online sports betting and casino gaming in New Jersey (subject to regulatory approvals).
The company’s intentions in New Jersey come after the state’s market showed positive numbers for both online and sports betting segments. It was also revealed that it received a licence from the Pennsylvania Gaming Control Board (PGCB) as an Interactive Gaming Manufacturer. This licence is GAN’s second gaming licence in the US following the receipt of a full Casino Service Industry Enterprise license in neighbouring New Jersey in April 2017.
Moreover, GAN said that it expects the online gambling market in Pennsylvania to debut in Summer 2019. Based on current strong trading conditions experienced year to date and lower Pennsylvanian licensing costs, the company said that it remains confident in the CY2019 full year: it expects mid-to-high double-digit percentage year on year revenue growth in FY 2019 and full year positive EBITDA.