Saturday 27 December 2014

Dermot Smurfit Jnr celebrates net boost for Betfair

Published 16/05/2014 | 02:30

Betfair's increase in market share is good news for Dermot Smurfit Jnr
Betfair's increase in market share is good news for Dermot Smurfit Jnr

BETFAIR'S share of the online gaming market in New Jersey nearly doubled last month to 8.1pc.

That's good news for GameAccountNetwork (GAN), the gambling software firm headed by Dermot Smurfit Jnr, which teamed up with UK-based Betfair for a foray into the first regulated online gaming market in the US.

Betfair is headed by former Paddy Power executive Breon Corcoran.

GAN, which is listed on Dublin's Enterprise Securities Market and London's AIM, signed a deal last year with Betfair to supply it with gaming software for its new online casino operation in New Jersey. Betfair teamed up with Trump Plaza to offer the service.

New Jersey was the first US state to legalise online gambling.

Its Division of Gaming Enforcement said in a new report that the Trump Plaza resort generated $926,000 (€677,000) in internet wins in April and almost $2.5m (€1.8m) in the year to date.

Irish Independent

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