British business-to-business iGaming software supplier Game Account Network (GAN) (NASDAQ: GAN) has been chosen by American casino and hotel developer and operator Wynn Resorts (NASDAQ: WYNN) to serve as the enterprise software platform for the company’s coming launch in the state of Michigan.
Under the terms of the ten-year partnership agreement, online sports betting and igaming will be launched alongside the Midwestern state’s first regulated online gambling operators in November 2020, barring any regulatory setbacks.
The launch in Michigan between Wynn and GAN will be part of the March 27, 2020 market access agreement agreed to by the London-headquartered firm and the Sault Tribe of Chippewa Indians. The federally-recognized tribe is responsible for five casinos under the Kewadin Casinos brand in Sault Ste. Marie, St. Ignace, Manistique, Christmas and Hessel, all in the Upper Peninsula.
Brand power:
In a company press release, Chief Commercial Officer for GAN, Jeffrey B. Berman, 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.”
According to GAN, the Las Vegas-based company’s leveraging of its “U.S.-optimized enterprise software, proven get-to-market capability, and on-property reward program integrations capability,” will put Wynn in a good position as “an early mover” in the Great Lakes State following the launch of iGaming.
Additionally, as a major operator in Las Vegas and Boston, Massachusetts, Wynn has at its disposal a “substantial database” of patrons who reside within the Michigan region that it is able to cross-market to iGambling.
Legalization:
The agreement is courtesy of passage of HB 4311 into law on December 23, 2019, including provisions for the legalization of full real money Internet casino gaming in the State of Michigan as well as Internet sports betting.
According to the earlier press release citing international gambling consultancy, Regulus Partners, the iGaming market in the Midwestern state is expected to generate $377 million in Gross Operator Revenue in the first year of operations, with that number swelling to $836 million in the fourth year of operations.