GAN Announces Launch of Sports & iGaming in Mexico
January 17 2023 - 8:00AM
Business Wire
Launch marks Coolbet’s 10th jurisdiction
Coolbet will provide its sport betting &
iGaming experience to the fast growing regulated Mexican market
GAN Limited (NASDAQ: GAN) (the “Company” or “GAN”), a leading
North American B2B technology provider of real money internet
gaming solutions and a leading international B2C operator of online
sports and casino under the Coolbet brand, today announced its
launch in the regulated Mexican market, making it Coolbet’s tenth
country of operations.
Starting January 16, Coolbet has partnered with a locally
licensed partner allowing the use of its brand to offer eligible
customers in Mexico the opportunity to place bets on its cutting
edge platform and will also provide support to the operations.
Players can expect access to a unique and personal experience
through leading products and local customer service. Coolbet’s
in-house team of bookmakers will offer top-market odds and a
localized sports betting menu. Mexican sports fans will be able to
bet on the most popular events in Mexico and LATAM, including the
2023 Mexico Open, MLB Mèxico, Copa Libertadores, Copa Sudamericana,
Recopa Sudamericana, and Formula 1, among many others.
Endre Nesset, President of B2C for GAN, commented:
"We are thrilled to be live and operating in the regulated
Mexican market and bringing the award-winning Coolbet brand to
local players. We expect our share of the market to grow over time,
but initially we expect both investment spend and revenue to be
modest, as we gain familiarity with the market. Thus far, our
planned launch in Mexico has been asset-light, with limited
marketing spend focused on targeted social media and digital
campaigns, and plans to sponsor Mexican athletes and streamers to
drive awareness. We look forward to supporting our local partners
as we grow our presence in this exciting market.”
About GAN Limited
GAN is a leading business-to-business supplier of internet
gambling software-as-a-service solutions predominantly to the U.S.
land-based casino industry and is a market-leading
business-to-consumer operator of proprietary online sports betting
technology internationally with market leadership positions in
selected European and Latin American markets. In its B2B segment,
GAN has developed a proprietary internet gambling enterprise
software system, GameSTACK™, which it licenses to land-based U.S.
casino operators as a turnkey technology solution for regulated
real money internet gambling, encompassing internet gaming,
internet sports betting, and social casino gaming branded as
'Simulated Gaming.'
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230117005391/en/
Investor:
GAN Robert Shore Vice President, IR and Capital Markets
(610) 812-3519 rshore@GAN.com
Alpha IR Group Ryan Coleman or Davis Snyder (312)
445-2870 GAN@alpha-ir.com
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