One of Italy’s largest sports betting and iGaming companies has decided to push forth with expansion together with content developer and supplier GAN in a bid to improve its portfolio and diversify the current offer.
GANing the Right Partners
Earlier in 2018, one of the largest betting & gaming agencies in Italy, Goldbet, partnered up with GAN, a quality supplier of casino slots and online gaming content. GAN boats an impressive portfolio of over 500 slots and games well across all relevant segments of the industry. Presently, Goldbet operates 900 betting shops all across Italy and owns 3% of the iGaming market in the country.
The integration of GAN into Goldbet’s own offer will allow the operator to benefit from a state-of-the-art gaming platform and further consolidate its presence in the country and also in the iGaming segment. GAN has benefited significantly from the partnership of its products in Italy, as 45% of the country’s gamers presently use products developed by the company.
GAN’s footprint in Italy is even more significant, given its partnerships with other established house names on the market, including Snaitech and Sisal. On the occasion of the official launch of the integrated Goldbet online gaming platform, GAN CEO Dermot Smurfit has outlined the process that went into preparing the portfolio for the Italian market.
GAN continues to win major clients in Italy by delivering an increasing number of high-quality Internet casino games to our Italian clients, carefully procured from independent casino game design studios worldwide as well as major land-based casino equipment manufacturers. – GAN CEO Dermot Smurfit
The move has consolidated the reach of GAN in Italy, as specified, and the company seems confident and decided to pursue similar operations further. With nearly half of Italy’s casinos making use of the unique portfolio GAN has put together, Goldbet has made the right decision to sign up with the supplier.
GAN’s distribution reach now extends to nearly half of the regulated Italian Internet casino gaming market: We very much welcome the launch of Goldbet as our ninth operator client in Italy.
Meanwhile, the financial results of the company have been somewhat mixed. GAN gained $2.2 million in the first six months of 2018. Revenue jumped 11%, but after-tax proceedings left the operator at a loss of £2.9 million.
At the same time, in November, GAN announced that its client revenue had gone up 40% year-on-year, estimated at $26.7 million and indicating a vibrant financial performance. However, roll-outs in the United States, including FanDuel’s New Jersey operations have been instrumental to this success.
Italy is faced with a challenge of its own, with the government preparing to enact a ban that will de facto strip any gaming-related ads from public spaces, including the Internet. Operators are still uncertain how they would operate after the Italian government has enforced the ban in 2019.
Many businesses estimate that revenue will dip. Some, including LeoVegas are fighting the measure, pushing against it head-on.