GAN Limited has signed its first letter of intent (LOI) with an established customer to include its new ‘Coolbet’ sportsbook engine as an Internet-only mobile-first sports betting experience for operational launch in the Commonwealth of Virginia, subject to regulatory approvals and operator customer licensing.
Technical integration for US deployment
GAN is a real money internet gaming and online sports betting industry internet gaming software-as-a-service provider, and its Coolbet sportsbook engine is currently being technically integrated for US deployment. GAN closed a deal to buy Coolbet for $175.9m earlier this month.
As well as other variables, the LOI is non-binding and based on the consumer being granted an internet sports betting license in the Old Dominion.
GAN’s Chief Commercial Officer, Jeff Berman, commented: “Since we announced our acquisition of Coolbet in November, we have seen significant interest from both current and prospective clients in our newly acquired sportsbook engine and associated managed trading services.
“Principle integration of this new offering into our industry-leading B2B technology platform is now underway and expected to be operationally deployed here in the US with the expected launch of online sports wagering in the Commonwealth of Virginia.”
Berman continued: “We are excited to further expand our relationship with this current partner, which has applied for an internet sports betting license in the Commonwealth of Virginia, citing GAN as their nominated platform provider. This agreement further validates our strategic decision to expand our platform capabilities through the acquisition of Coolbet.
“We look forward to the exciting opportunities we expect to see in 2021 as we bring our augmented platform solution into the U.S. market that now includes one of the best sports betting technologies and end user customer experience operating in the world today.”