GAN, Incredible Technologies ink multi-year agreement
SAAS provider will have exclusive US online rights to IT’s casino portfolio.
GAN Limited, a full-service internet gaming software-as-a-service provider to the real money internet gaming, online sports betting and simulated gaming industries, on Thursday said it has reached an agreement with Illinois-based Incredible Technologies, Inc.
Per the agreement, terms of which were not disclosed, GAN will obtain the exclusive online rights to all current and future Incredible Technologies’ online games, which IT said will grow to more than 110 games during the term of the contract.
Incredible Technologies is a designer and manufacturer of US electronic gaming machines. The company says its evergreen slot machines Crazy Money and Money Rain are present on the majority of retail casino gaming floors across America and have been available online in New Jersey since 2014 and 2016, respectively.
California-based GAN said the deal with IT adds to the content acquisition strategy it devised to increase the company’s overall take rate on B2B gross operator revenue derived from online gaming, as well as securing a fast-growing share of existing online gaming revenue from B2C operators who are not already clients of GAN.
GAN said it will immediately begin deriving online content licensing fees from Incredible Technologies’ existing online operations in New Jersey.
As a result of this long-term deal, GAN said its combined exclusive online slot partners’ content represented approximately 7% of all slots sold in the US during 2020.
For IT, which noted it possesses a library of proven casino games and other out-of-home entertainment games in tens of thousands of establishments, this deal enables it to work with a single, long-term partner with an existing major online distribution network in the US while focusing resources to increase the company’s online portfolio rapidly.
IT said it will provide GAN’s Platform and Super RGS clients with an exclusive and substantial portfolio of online casino slot gaming experiences today and over the coming years. IT will distribute its entire online games library only through GAN’s Platform or Super RGS in the US.
“We welcome this partnership with Incredible Technologies as another validation of our presence in the regulated intra-State markets of America,” Jeff Berman, chief commercial officer of GAN, said in a statement. “Today’s announcement is another exciting step toward building upon our strategy of establishing exclusive online access rights to the most popular retail US slot games. Few content providers in the US market have established a reputation for innovation and creativity as well as the operational excellence of Incredible Technologies. The popularity of IT’s slot games, including the player-favorite Ultra Rush themes, will be a critical addition to our portfolio as we commit ourselves to becoming a provider of exclusive online content.”
Daymon Ruttenberg, SVP of gaming of Incredible Technologies, added, “Our partnership with a proven and premier partner such as GAN advances the online US distribution of our leading portfolio of gaming content. Since our company’s founding, we have been committed to creating innovative and exciting ways to engage players with new technologies and capabilities. We know that GAN shares this commitment, and we look forward to bringing new online experiences to our players through GAN’s extensive online distribution network. Together, we will be drivers of the US online gaming market as it continues to grow.”
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