"Divergent commercial objectives in the United States" cited as the reason
A little over eighteen months ago the owners of the famous US resort casino Foxwoods, the Mashantucket Pequot Gaming Enterprise, and Irish online gambling technology company GameAccount teamed up to debut GAN's first free-to-play 'Simulated Gaming' online casino product in the US … but the partnership has not lasted.
In separate announcements this week the two companies revealed that over the next few months they will carry out a mutually agreed "managed exit" from the partnership.
The Mashantucket statement noted: "The parties have had a productive and mutually beneficial relationship highlighted by the power of the Foxwoods brand, the performance of GAN's technology platform, and the strength of MPGE's information technology and marketing operations," but cited "divergent commercial objectives in the United States" as the reason for the breakup.
GamingAccount (now rebranded GAN – see previous InfoPowa report) made a similar statement but added:
"Consistent with the terms of the contract, GAN is engaged in negotiations with Foxwoods with respect to the mutual obligations of both parties under the contract.
"As announced with GAN's 2015 first half results, the growth opportunity in Simulated Gaming remains significant. There is strong demand for GAN's product which is reflected in the pipeline of prospective customers with a number of exciting deals expected to be completed in the coming quarters. GAN commenced 2015 with just two clients of Simulated Gaming operating online and is confident of commencing 2016 with a total of seven clients offering this compelling Internet gaming experience to their patrons online."
Rumours of disagreement between the companies surfaced last year.
Online Casino News Courtesy of Infopowa