GameSTACK™ technology Platform enabling iGaming and online sports betting, furthering penetration of Michigan’s fast-growing market

GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading North American B2B technology provider of real money internet gaming solutions and a leading International B2C operator of Internet sports betting, today announced the launch of iGaming and online sports betting for Saginaw Chippewa Indian Tribe of Michigan, who own and operate Soaring Eagle Casino & Resort (“Soaring Eagle”).

Soaring Eagle Casino & Resort is the largest casino in the State of Michigan, with an expansive 210,000 square-foot casino facility that offers thousands of slot machines and the widest variety of floor games available in the Midwest. It also possesses an extremely sizeable database of patrons, who the parties anticipate converting into active online players via GAN’s patented iBridge loyalty platform.

As previously announced under the terms of the agreement, GAN has deployed the Company’s GameSTACK™ enterprise software platform onto the client’s technical infrastructure deployed on-property. GAN has collaborated with the client to design and develop their iGaming and sports betting front-end web application together with counterpart native Apple iOS and Android apps. GAN will deploy the Company’s patented iBridge Framework to optimally monetize the Soaring Eagle patron database and leverage their on-property retail loyalty program later this year. Lastly, the scope of the previously announced agreement has been expanded to include fully managed marketing by GAN via the Company’s Marketing Services team specialists employed to drive online user acquisition and player retention acting in collaboration with Soaring Eagle’s on-property retail marketing and player development teams.

The announcement marks GAN’s fourth client in the state of Michigan and GAN’s tenth client for real money online gambling technology in the U.S. and, inclusive of Simulated Gaming, GAN’s ninth Native American tribal gaming operator client.

Dermot S. Smurfit, President & CEO of GAN, noted:

“We are thankful for Soaring Eagle’s confidence in our B2B platform offering and the opportunity to bring Michigan’s largest Tribal casino operator online. This launch for Soaring Eagle represents the best of GAN’s B2B services, purpose built for Tribal operators: Our highly optimized technology platform has combined with GAN’s comprehensive digital marketing services proven successful at user acquisition and retention marketing in other intra-State iGaming markets such as Pennsylvania and New Jersey. The Michigan market has been incredibly strong since its launch more than one year ago, and given Soaring Eagle’s strong brand, sizeable database and planned marketing investment, we believe this client, with GAN’s support, will take their fair share of the Michigan online gambling market.”

Melinda Coffin, Chief Executive Officer of Soaring Eagle, added:

“We are excited to leverage GAN’s proven technical capability, product offering and marketing performance in the State of Michigan to support our iGaming and online sports betting now operational on PlayEagle.com. GAN’s enterprise software and marketing expertise will help drive improved adoption and retention of our online offering for current and future players and we look forward to seeing the newly-launched online business complement our established retail gaming business in the coming years.”

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 and is a market-leading operator of proprietary online sports betting technology with market leadership positions in selected European and Latin American markets. GAN has developed a proprietary internet gambling enterprise software system, GameSTACK™, which it licenses to land-based U.S. casino operators as a turnkey technology solution for regulated real money internet gambling, encompassing internet gaming, internet sports betting and social casino gaming branded as ‘Simulated Gaming.’

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, without limitation, statements regarding the Company’s revenue guidance, the Company’s anticipated trends in revenues (including new customer launches) and operating expenses, the anticipated improvement in profitability for the second half of 2021, the anticipated launch of regulated gaming in new U.S. states, the expected integration of Coolbet’s sports betting technology and international B2C operations, the anticipated launch timing of the B2B sportsbook technology solution in the U.S., 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.

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