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GAN shares soar after US court overturns gambling ban
Shares in internet gambling software maker GAN came up trumps on Tuesday as the company said it would be ready to launch operations in the US after the ban on online sports betting was lifted by the Supreme Court.
GAN confirmed it was preparing to start work in both New Jersey and Pennsylvania for its clients in the second half of the financial year.
"Sports betting will be delivered as an integrated extension into GAN's enterprise software platform and GAN will participate in the material incremental sports betting revenues. These incremental revenues are expected to be material for GAN in H2," the company said.
Chief executive Dermot Smurfit said GAN's clients had been asking it to prepare products since the final quarter of 2017.
GAN is a supplier of Internet gaming enterprise software-as-a-service solutions to the US land-based casino Industry.
The Company has developed an Internet gaming enterprise software system which it licenses principally to land-based US casino operators as a turnkey technology solution for both regulated real-money and/or virtual simulated gaming.