Station casino buffet. Station Casinos signs up to social gaming with GAN,

Station Casinos has become social gaming provider GAN’s latest US casino customer as the latter’s half-year results show its simulated gaming offering beginning to gain traction within the US land-based casino sector. Station casino.

In a deal announced at the end of September, Station became GAN’s 19th US casino operator customer. Station said it would be integrating the GAN social casino product with is myBoardingPass customer loyalty scheme.

GAN now supplies its integrated social product to 70-plus casinos across the US. It’s half-year results, published a matter of days after the Station deal was announced, showed net revenue attributable to simulated gaming rising 75% to £1.4m. This was out of total revenues that rose 35% to £3.9m. However, it was the real-money gaming operations that continued to contribute the majority of net revenue with revenue rising 21% to £2.5m.

This business-to-consumer (B2C) element of that business will soon be disposed of and merged with the real-money operations of an as-yet-unnamed current US casino client which will be launching real-money operations ex-the US in 2017. The B2C real-money operations contributed £0.2m to revenues in the first half.

GAN said that it had also signed an agreement with a New Jersey operator to launch real-money operations in the first quarter of next year.

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Interviewed by TotallyGaming.com in early September, Smurfit suggested that his internal research suggested that 50%-plus of casino patrons in the US are playing with multiple social casinos online, which would imply a huge addressable market.

“If all US casinos had a GAN simulated gaming product and service we think these patrons would spend $250m per annum,” he said. “However, with recent product upgrades, most visible on delivered for Isle of Capri, we can also permit our US casino clients to tap into the global social casino market, if they’re willing to invest in user acquisition.”

The Isle of Capri is the most recent US casino operator partner to go live with the GAN product, bringing the total of operational clients as of June to seven.

While revenues are increasing, GAN is also narrowing its losses. At an EBITDA level, the company reduced its losses to £0.5m from £1.5m in the first-half of 2015. Pre-tax losses, however, remained stubbornly high at £2.4m, slightly down on the £2.6m loss booked in the same period last year.

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The company has cash on the balance sheet of £4m following a cash injection in the second quarter of this year which raised £1.3m from a share sale to existing shareholder Dermot Desmond. It was the third cash raise this year after the company completed share placings in April and August which netted a combined £3.1m.

The company said the outlook for the rest of the year was positive with B2B revenue share and other revenues likely to continue to grow in the second half and more operator launches due both this year and early next.

Totally Gaming says: The Station Casinos deal is a feather in the cap for GAN and it will be interesting to see which of its current clients is unveiled as the one aiming to hit the real-money gaming space ex-the US. With the progress of state-by-state online legislation in the US seemingly forever delayed, hopes for significant revenues uplifts at GAN ride on getting the new simulated gaming clients up and running.

Posted by at 06:50PM

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