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GAN Announces Acquisition of Silverback Gaming and Exclusive Rights to Distribute Silverback’s Portfolio of Casino Games

December 9, 2021

Exclusive slot content enhances GAN platform's industry leadership across all U.S. iGaming States for multiple clients

IRVINE, Calif.--(BUSINESS WIRE)-- GAN Limited (the "Company" or "GAN") (NASDAQ: GAN), a leading full-service internet gaming software-as-a-service provider to the real money internet gaming, online sports betting, and simulated gaming industries, today announced it has completed the acquisition of the Bulgaria and U.K. based online casino game developer Silverback Gaming (“Silverback”) on undisclosed terms. The acquisition provides GAN with the exclusive rights globally to all current and future Silverback online games, which the Company expects will include 50 unique new slot games in the next three years. The acquisition will bolster GAN's SuperRGS offering launched last month in the U.S. with an exclusive portfolio of online casino slot gaming experiences today and over the coming years. Silverback’s existing portfolio of online slot games will launch within GAN’s SuperRGS content suite commencing in 1H 2022. The Silverback acquisition is part of GAN’s content acquisition strategy to increase the Company's overall 'take rate' on existing B2B Gross Operator Revenue derived from iGaming, as well as growing GAN’s share of iGaming revenues from B2C operators in the U.S. who are not already platform clients of GAN.

Silverback possesses proven online slot games such as Aztec Luck™ and Mystery Stacks™, currently distributed across European regulated markets to more than 100 B2C operators of iGaming. Silverback’s mission has been delivering innovative, immersive mobile-first online casino games with differentiated design features, delivering innovative iGaming experiences. Silverback has been recognized globally with award nominations such as the 2021 CasinoBeats Awards in the Studio Slot Debut category as well as earning its place in the 2021 Gaming Intelligence Hot 50. Silverback’s existing portfolio of games are currently playable at www.SilverbackGaming.com.

Dermot Smurfit, President & CEO of GAN, commented:
"We are delighted to bring Silverback’s innovative slot content into GAN’s fast-growing portfolio of online slot games. Silverback has built its reputation in this industry as a leading slot design innovator and we welcome the team’s talent, including slot mathematicians and software engineers, which will be an invaluable long-term asset as we build upon our strategy of expanding our exclusive online slot games for distribution in the U.S. We are very pleased with the progress surrounding our SuperRGS strategy and today’s announcement is the next exciting step in that strategic initiative."

About GAN Limited
GAN is a leading business-to-business supplier of internet gambling software-as-a-service solutions predominantly to the U.S. land-based casino industry. GAN is also a market-leading operator of proprietary online sports betting technology with market leadership positions in select European and Latin American markets, through its Coolbet division. GAN has developed a proprietary internet gambling enterprise software system, GameSTACK™, which it licenses to land-based casino operators as a turnkey technology solution for regulated real money internet gambling, encompassing internet gaming, internet sports gaming, and virtual Simulated Gaming. Additional information about GAN can be found online at www.GAN.com.

Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements, including statements regarding future business opportunities as well as statements that include the words "expect," "intend," "plan," "believe," "project," "forecast," "estimate," "may," "should," "anticipate" and similar statements of a future or forward-looking nature. These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees but involve known and unknown risks, uncertainties, and other important factors that may cause actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update or revise any forward-looking statements for any reason, except as required by law.

Investor Contacts:

GAN
Robert Shore
Vice President, IR and Capital Markets
(610) 812-3519
[email protected]

Alpha IR Group
Ryan Coleman or Davis Snyder
(312) 445-2870
[email protected]

Source: GAN Limited