Smurfit Jnr’s Gan in US expansion with PaddyPower Betfair’s FanDuel
Dermot Smurfit Jr's Gan has entered a "material" long-term deal with the FanDuel Group.
FanDuel is PaddyPower Betfair's enlarged US business.
Under the deal, Gan will provide FanDuel’s platform for its "rapid" deployment of internet casino and account services for internet sports betting in Pennsylvania and West Virginia.
This is in addition to the existing services provided by Gan to FanDuel in New Jersey.
As part of the five year contract expansion FanDuel has agreed to license Gan's US patent.
Gan's technology allows land-based casino patrons enrolled in on-property loyalty programs to link existing loyalty cards to internet gambling accounts and receive loyalty points in exchange for online gambling.
The expanded contract represents a material increase in the value of the partnership to Gan across revenue share, professional services and patent licensing fees, a statement from Mr Smurfit’s group said.
"The contract extension combined with US patent licensing represents a significant milestone in Gan's US evolution and reinforces our view that in the heavily regulated US online gambling market, effective and compliant 'platforms' are a premium component of the supply chain rather than a commodity," Mr Smurfit said.
"Gan is therefore very well placed to capitalise on the growth in US online gambling markets in terms of new operator clients, new States and underlying growth momentum," he added.