Formerly known as the GameAccountNetwork, online gaming software developer GAN has now been given the go ahead to provide online gaming in the state of New Jersey. The New Jersey Division of Gaming Enforcement approved the company for licensing, which is quite overdue seeing as the company applied in 2013.
CEO of GAN, Dermot Smurfit, commented in a press released that the company was thoroughly and professionally investigated by the New Jersey DGE and welcome the grant of their first privileged gaming license in the US. GAN feels that the licensing approval will help them in gaining licensing in other states in the future.
GAN has already been working in New Jersey for some time, having provided the gaming software for Betfair Casino since late 2013. Last year, the company was in a bit of hot water after it was found that state regulations were violated when their new Android software for mobile devices for Betfair was activated before being tested. Six players located outside of NJ were able to gamble but only wagered a small amount. This led to GAN having to fix the issue and pay a fine of $25,000.
Early last year, GAN partnered with the Borgata Casino to provide simulated gaming, which essentially is gambling for play money. Players have the option to use real money to purchase additional chips for free play. While this is a different approach to gaming then real money, it did set up the company to be able to work with the Borgata in the future when it comes to real money gaming.
Speaking further on the new licensing approval, CEO Dermot Smurfit stated: “In the heavily regulated world of internet gaming, the significance of this gaming license cannot be underestimated and is a major asset for our Company and will deliver our shareholders significant value over time.”
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