Ahead of integrating Coolbet’s technological platform into its own offer, GAN has secured an unnamed partner in Virginia to go ahead with the sportsbook’s launch. The official launch date of the industry in the state is still pending.
Coolbet Finds Unnamed Partner in Virginia
GAN has confirmed that it has secured a deal for its new sportsbook solution, Coolbet, with an undisclosed partner in Virginia. The company has signed a Letter of Intent as a non-binding agreement, GAN confirmed in a press release.
While the name of the partner has remained anonymous, GAN said it would seek to launch in all three verticals of the sports betting experience, meaning online, mobile and standard, first in Virginia, and then in other jurisdictions that have legalized sports betting in the US.
Coolbet is arriving at a time when Virginia is still finalizing its regulatory framework, even though the state had passed a law in April 2020, but has not yet given an official go-ahead to sportsbooks to launch.
Coolbet was recently acquired by GAN after buying out Vincent Group, the operator’s parent company, for $175.9 million earlier in January. With this deal, GAN is seeking to leverage its expertise in the B2B sector and provide its technology to empower Coolbet in an ambitious launch across North America and the rest of the world.
GAN is not getting rid of Coolbet’s own platform though, but rather integrating it in the group’s technology offering. Speaking on developments, GAN CCO Jeff Berman had this to add:
“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.”-GAN CCO Jeff Berman
Coolbet’s platform is already being integrated within GAN’s own technical ecosystem and will be deployed as part of Coolbet’s roll-out in Virginia, added Berman.