GAN Limited, the renowned iGaming operator and supplier, has achieved a significant milestone with its approval from the Nevada Gaming Commission. This regulatory green light allows GAN to commence operations with its sports betting platform in Nevada, pending certification and approval.
Gateway to the Las Vegas Locals Market
Seamus McGill, Chairman and Interim CEO of GAN, expressed the company’s elation at receiving regulatory approval in the Silver State. “We are very pleased and humbled to have received regulatory approval from the State of Nevada to hold a gaming license,” stated McGill. He emphasized that GAN is eagerly looking forward to launching its cutting-edge GAN Sports product in Nevada within the coming months.
Notably, the Las Vegas Locals market is recognized as one of the world’s largest and most prominent gaming markets. GAN is poised to enter this thriving market, offering its unique sports betting technology and trading solution, GAN Sports, to an expansive and growing audience.
“This is the third state where our B2B sports betting technology and trading solution, GAN Sports, will be operational, and we look forward to bringing a unique and fun wagering experience to a large and growing market,” McGill added. GAN’s expansion into Nevada aligns with its vision to provide a top-tier sports betting experience to users across various jurisdictions.
Leadership Transition at GAN
In September, GAN’s board of directors accepted the resignation of Dermot Smurfit, who stepped down from his role as Chief Executive Officer and director of the company and its subsidiaries. As part of the transition, Seamus McGill, the current Chairman of the board, assumed the position of Interim Chief Executive Officer. McGill’s leadership aims to guide GAN as it ventures into new markets and solidifies its presence in the rapidly evolving iGaming landscape.
Positive Revenue Trends in Nevada
The news of GAN’s regulatory approval coincides with promising trends in Nevada’s gaming revenue. In August, the state’s casinos reported total gaming revenue of $1.21 billion, marking a modest 0.07% year-on-year increase. However, this figure reflects a 14.3% decrease compared to the preceding month’s revenue of $1.4 billion.
The Las Vegas Strip, the epicenter of the state’s gaming activity, contributed $666.7 million to the total revenue, representing a 1% year-on-year growth. Clark County, encompassing the Strip, downtown Las Vegas, North Las Vegas, the Boulder Strip, and surrounding areas, generated $1.02 billion in revenue, marking a 0.18% increase. Washoe County, which includes casinos in Reno, Sparks, and North Lake Tahoe, also saw a revenue uptick of 2% year-on-year.
These statistics underline Nevada’s resilience as a premier gaming destination, and they align with GAN’s strategic efforts to participate in this dynamic market.
GAN’s approval in Nevada is a significant step toward expanding its presence in the U.S. gaming landscape. The move is set to enhance the gaming experience for residents and visitors alike, providing exciting sports betting opportunities in a thriving market.