Parx Casino to Add Sports Betting
Greenwood Gaming & Entertainment Inc. has partnered with GAN to offer sports betting in both the retail and online channels in its Parx Casino in Pennsylvania.
The third-party sports betting application software provider will be integrated by GAN with launch expected in H2 2018.
Parx Casino has filed a petition with the Pennsylvania Gaming Control Board (PGCB) confirming Parx Casino’s intention to launch Internet gaming online in Pennsylvania and identifying GAN as their enterprise software platform provider.
GAN will participate in the incremental sports betting revenues generated both in the retail channel (i.e. on-property within the casino) and in the online channel.
Pennsylvanian regulated retail sports betting is forecast to generate in excess of $100m in gross win in the first 12 months and internet sports betting is forecast to generate a further $189m in the same period, in addition to the Pennsylvanian regulated Internet Gaming market forecast to generate $200m in gross gaming revenue online during the first 12 months of operation.
In the most recent fiscal year ended June 30, 2018 Parx Casino generated $570m from slot machines and table games on-property representing a 18% share of the Pennsylvania’s $3.2bn gaming market.
GAN’s US-patented technology will enable Parx Casino patrons enrolled in the on-property loyalty program, to sign up online and instantly link their reward cards to their online account permitting those guests to trade in their reward points earned from on-property gaming for cash online and/or to earn rewards points from Internet gaming and/or sports betting, to be subsequently redeemed on-property.