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Empire City to enter the emerging US online gambling market
Thursday May 1,2014 : GAMEACCOUNT SIGNS UP U.S. LAND CASINO
Empire City to enter the emerging US online gambling market.
Clearly anticipating the advent of legalised online gambling in New York, the Empire City Casino has signed up for online gambling technology services from Irish supplier GameAccount Network plc.
In a statement Wednesday GameAccount said that it had contracted to launch a Simulated Gaming online experience for new customers and existing patrons of Empire City.
Empire City Casino is owned by the Yonkers Raceway Corporation, and comprises a major racetrack and casino property in New York. It is expected that GameAccount Network and Empire City Casinos will launch in the second half of 2014, initially with free-to-play action, subject to suitable approvals.
The family of former US Ambassador Dan Rooney is reportedly the money behind Empire City.
GameAccount listed on London's AIM market in November last year in an IPO worth Euro 90 million and has announced that it is also in talks with a number of multi-state casino operators in the US, where it has partnered with nine major casinos, including Foxwoods casino in Connecticut .
Earlier this week the company released its first set of annual results, showing sales have doubled to GBP 12.3 million and delivered pre-tax profit of GBP 1.6 million.The company’s backers include Dermot Smurfit, Dermot Desmond and Andrew Black of Betfair.
Smurfit, who is the company's chief executive, told the Irish Times Wednesday that users of GAN's online simulated gaming services have an average spend of more than three times as much as gamers spend on social media sites such as Facebook.
GAN’s services are often delivered under another company’s brand as “white label” services.
The company is also considering expansion into the Asian market, Smurfit said, noting that he was in talks with several potential partners, but that the initiative was still in its early stages, and GAN's focus remains on the United States.
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Ujjwal Doshi, lead analyst at the research firm, says, “Low-cost cross-border service delivery is opening up sports betting markets, which were previously protected by state-regulated monopolies or dominant local operators.”
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