Business Irish

Thursday 29 September 2016

Lady Luck shines on Smurfit Jnr's gaming software firm with US deal

Published 24/12/2015 | 02:30

The Lady Luck company is a wholly-owned subsidiary of the Isle of Capri Casinos, pictured. Photo: Bloomberg News
The Lady Luck company is a wholly-owned subsidiary of the Isle of Capri Casinos, pictured. Photo: Bloomberg News

Dublin-listed GameAccount Network (GAN), the gaming software company headed up by Dermot Smurfit Jnr, has signed an agreement with one of the largest US gaming groups that will see the launch of a new simulated gaming experience.

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The deal was completed with Lady Luck Interactive, a wholly-owned subsidiary of Nasdaq-listed Isle of Capri Casinos, a large casino operation group in the US. The simulated gaming experience is to go live across the internet and on mobile in the first six months of 2016.

The product GAN is providing offers gaming-as-entertainment consumer websites and mobile apps, which are enabled with monetisation features. Last year GAN made a £2.6m (€3.5m) loss and made simulated gaming a key area to progress this year.

Income in the company has grown in the first six months of 2015 from £13.2m (€17.99m) up to £13.4m (€18.26m)

In the past Mr Smurfit has eluded to a US listing of GAN, provided the sale of its products in the States were successful.

Simulated gaming now represents over 40pc of the firm's total revenue following a deal struck between GAN and California-based San Manuel Band of Mission Indians earlier in the year.

Irish Independent

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