Mar 31, 2023 Newsdesk Industry Talk, Latest News  
Australia-listed slot machine maker Ainsworth Game Technology Ltd has announced an update to its partnership with GAN Nevada Inc, a subsidiary of GAN Ltd, a provider of interactive Internet-delivered games.
GAN had, since July 2021, exclusive licensing rights to Ainsworth’s online real-money games (RMG) in the U.S. for a period of five years.
Under the amended agreement, GAN’s exclusivity will end on March 31, 2024, “at which time GAN will operate on a non-exclusive basis and [as] key strategic partner in the distribution of the company’s online real money games,” stated Ainsworth in a Friday filing.
Ainsworth state that the amended agreement would “provide greater flexibility” for the group to “service its U.S. customers”.
As a result of the amendment, the annual guaranteed licence fees will be scrapped from March 31, 2024, and Ainsworth will receive additional compensation of 1.25 million ordinary shares in GAN Ltd.
According to the filing, Ainsworth would, from April 2024, retain real-money gaming revenues from “direct integrations” with operators, in addition to revenues from aggregation platforms, including GAN.
Current “direct integrations” within the U.S. are averaging revenue of approximately US$1.5 million per annum, said the Australian firm. Such revenue “is expected to progressively increase as new direct integrations are completed across North America,” it added.
May 29, 2023
May 23, 2023
May 29, 2023
May 29, 2023
May 29, 2023
FBM, a maker of casino slot machines and an international specialist in electronic bingo machines, says it has delivered its first product in the United States. The firm said it had entered the...(Click here for more)
”Even in the darkest moments of the pandemic, we’ve always said this market will come back strong… We’re big believers in Macau”
Robert Goldstein
Chairman and chief executive of Las Vegas Sands