Dublin-listed Game Account Network, a developer and supplier of enterprise-level B2B gaming software and online gaming content, has announced a partnership with US based Parx Casino to launch a simulated gaming online experience for new customers and existing patrons.
Parx Casino, owned by Greenwood Racing, has a major thoroughbred racetrack and casino property in Bensalem, Pennsylvania, and has a 30 per cent share of the five-property eastern Pennsylvania casino market.
It is expected that GameAccount Network and Parx Casino will launch a Simulated Gaming website in the fourth quarter of 2014 subject to customary approvals.
GameAccount Network launched its Simulated Gaming product in the US in January 2014, which enables land-based US casinos to tap into the social casino market worth an estimated $1bn per annum in the US in 2013.
Dermot Smurfit, CEO of GameAccount Network, said that the deal "is further validation of the monetisation model, the underlying strength of our regulation-ready internet gaming system, the promotional capabilities of our back office and relevant appeal of our widening gaming portfolio".
While the financial terms of the Parx agreement have not been disclosed, analysts at Davy Stockbrokers understand “that they compare very favourably to those achieved in New Jersey where the majority is accruing to GameAccount’s partner, Betfair. With a more direct relationship with the casino here, there is just a two-way split of net gaming revenues”.
It is understood that the deal is one of a pipeline of potential transactions at various stages of negotiation.
GameAccount Network has an established business in Europe, licensing gaming content to UK, Spanish and Italian gaming operators including, William Hill, Rank, Lottomatica, Sisal MatchPoint, and SNAI. In the United States, it has partnered with Betfair.
