When the Ontario Lottery and Gaming Corporation (OLG) opened their first bricks-and-mortar casino in late March, they did so with a GAN Limited gaming machine. The company is one of 4 companies awarded contracts to provide games at OLG locations across Canada.
GAN Limited, a Canadian company that specializes in the development of online games, has entered Ontario’s gaming industry. The company is known for its popular mobile game “Candy Crush Saga.”
GAN Limited, a renowned US-based online gambling services and software supplier, announced in early December that it would enter Ontario’s regulated iGaming and sports betting sector. The business will partner with an undisclosed sportsbook that is waiting for regulatory clearance to enter the province’s iGaming sector.
GAN Limited is a market-leading B2B provider of online gambling software-as-a-service solutions, primarily to the brick-and-mortar casino business in the United States. Now, the firm is set on expanding into Canadian markets, with Ontario on track to launch a competitive iGaming market for private operators in Q1 2022.
Exploring New Prospects
The gambling giant now aims to participate in the new Ontario iGaming regulation via its wholly-owned subsidiary, GAN Ontario. However, in order to become a reality, the subsidiary must apply for and get approval from the regulating body iGaming Ontario. Despite the severe competition, the firm is certain that it will be able to get the necessary license to enter the new market.
Dermot Smurfit, CEO of GAN Limited, responded to the company’s recent announcement that it will join Ontario’s iGaming expansion by collaborating with an undisclosed bookmaker. He said that the company is pleased to sign its first B2B customer in the province, since they have been working on obtaining a license for the market for many months.
Mr. Smurfit went on to say that the firm had to make the notification because of the nature of the collaboration and the need for the company to make appropriate operational industrial disclosures to third-party providers of payments, content, and other regulatory technical services. He is also enthusiastic about Ontario’s iGaming market’s future, and the firm is thrilled to have a tier 1 operator on board as a partner.
The list of applicants has been reduced down as a result of the CEO defining their Ontario partner as a tier-one USA gaming brand. FanDuel, DraftKings, or BetMGM are all possibilities. Many people assume the hidden partner is FanDuel, which is already a partner of the technology provider since the latter runs multiple online casinos for FanDuel in several states.
Research on the Market
Bonusfinder.com’s most recent analysis on the iGaming business in Ontario previously revealed that the province’s online gaming potential is immense. According to the site’s Index findings, once the province’s new iGaming regulation is implemented, it is expected to outperform the competition and establish several records for online wagering in North America. It is expected to become the continent’s leading jurisdiction for such an offering.
A Difficult Competition
When seeking for a license in Ontario, however, GAN Limited and its unidentified partner would be up against a slew of industry heavyweights. FansUnite is one of them, and the company has already applied to the Alcohol and Gaming Commission of Ontario to become a fully licensed gaming-related supplier in the province.
GAN Limited, December 1, 2021, “GAN’s Technology Platform to Support Leading U.S. iGaming & Online Sports Betting Operator in Ontario.”