At the start of December, GAN Limited, which is a leading USA-based internet gaming provider of services and software announced that it will be joining Ontario’s regulated iGaming and sports betting market. The company will be joining forces with an unnamed sportsbook, which awaits regulatory approval to join the province’s iGaming market.
GAN Limited is an industry-leading B2B supplier of online gaming software-as-a-service solutions mostly to the U.S. brick-and-mortar casino sector. Now the company is determined to expand into the Canadian markets, as Ontario is on schedule to open a competitive iGaming market for private operators in Q1 of 2022.
Exploring New Opportunities
Now, through its wholly-owned subsidiary, GAN Ontario, the gaming leader plans on becoming a part of the new Ontario iGaming regime. But in order to become reality, the subsidiary must apply for the required license and be approved by the regulatory iGaming Ontario. Despite, the fierce competition, the company believes that it can acquire the needed license to operate in the new market.
CEO of GAN Limited, Dermot Smurfit, commented on the company’s recent statement about joining Ontario’s iGaming expansion by partnering with an unnamed sportsbook. He shared that the corporation is quite happy to sign its first B2B client in the province, as they have been working on the initiative of acquiring a license for the market for a few months now.
Mr. Smurfit further elaborated that the company had to make the announcement due to the nature of cooperation and necessary operational industrial disclosures to be made by the company to third-party suppliers of payments, content, and other regulatory technical services. He is also quite optimistic about the future of Ontario’s iGaming market and the company is pleased to join with a tier 1 operator on board as a partner.
Due to the CEO describing their partner in Ontario as a tier-one USA gaming brand the list of the candidates is narrowed down. It could be either FanDuel, DraftKings, or BetMGM. However, many believe that the secret partner is FanDuel, which is already a partner of the technology provider, as the supplier already operates several online casinos for FanDuel in numerous states.
Study on the Market
Previously, Bonusfinder.com’s latest research on Ontario’s iGaming market has suggested that the province’s online gaming potential is enormous. According to the site’s Index results, once the province launches its new iGaming regime is set to blow the competition away, and break many records for online wagering in North America. It is believed that it will become the top jurisdiction for such an offering on the continent.
However, when applying for a license in Ontario, GAN Limited and their undisclosed partner will face competition from many gambling leaders. One of those is FansUnite, which has already submitted its application to the Alcohol and Gaming Commission of Ontario to become a fully registered gaming-related supplier in the province.
Source: “GAN’s Technology Platform to Support Leading U.S. iGaming & Online Sports Betting Operator in Ontario”, GAN Limited, December 1, 2021