Futures are pointing to a positive open this morning with president Trump’s health and the aid package in focus. Stocks fell on Friday following the president’s covid diagnosis. Yet the three major indices all finished up for the week. The S&P 500 finished the week up 1.52%, the Nasdaq gained 1.48% and the Dow added 1.87%. Will there be more gains this week? With so much currently up in the air, only time will tell.
News broke this morning on the deal that could mean a big turn around for the leading business-to-business supplier of internet gambling software.
Shares of GAN, Limited (GAN) have plunged more than 35% since they reported horrific Q2 losses back in August. This morning the company announced that Wynn Resorts, Limited (WYNN) has engaged in a 10-year agreement to be the enterprise software platform for its Internet sports betting and internet casino gaming business in the State of Michigan. The Company expects to launch Wynn online in Michigan alongside the first regulated online gambling operators in November 2020.
Jeffrey B. Berman, Chief Commercial Officer of GAN, commented:
“We look forward to powering the Wynn brand in Michigan with our highly optimized technology platform and enabling Wynn to efficiently invest their marketing capital to attract loyal sports betting and iGaming players. We are pleased to onboard Wynn, with its national casino brand and substantial Michigan-region patron base, as a major operator client and are excited at the opportunity presented by potential roll-outs in multiple additional states in the future.”
Shares are catching a bid on the news, but GAN stock has much more to offer.
Social gaming has emerged as a global phenomenon in terms of revenue and player engagement for gaming companies around the world. Simulated Gaming ™, GAN’s proprietary experience deployed from GameSTACK ™, is a market leading offering which enables operators to deliver an exciting online social casino-style experience, control content and marketing, all while observing responsible gaming best practices such as Know Your Customer. GameSTACK ™ IGS is compatible with the complex technical requirements of the most stringent jurisdictions around the world.
Investors continue to speculate that online gambling will expand at a rate that will lead to tremendous growth for every company involved. That may not be the case because the market is already flooded with dozens of suppliers. But GAN Limited is uniquely positioned to provide a platform casino operators can use easily to launch their own online gambling platforms. That could keep GAN growing, and may make it one of the best investments for those looking to profit from the industry over the long-term.
