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GAN launches Coolbet brand in Mexico

18th January 2023 7:56 am GMT
SportingTech

Nasdaq-listed gaming operator and supplier GAN has launched its Coolbet brand in its tenth jurisdiction after going live in the regulated Mexican iGaming market.

Coolbet has been launched in partnership with an unnamed locally licensed partner, offering top-market odds and a localized sports betting menu, including the 2023 Mexico Open, MLB Mèxico, Copa Libertadores, Copa Sudamericana, Recopa Sudamericana, and Formula 1, among others.

“We are thrilled to be live and operating in the regulated Mexican market and bringing the award-winning Coolbet brand to local players,” said GAN president of B2C Endre Nesset. “We expect our share of the market to grow over time, but initially we expect both investment spend and revenue to be modest, as we gain familiarity with the market.

“Thus far, our planned launch in Mexico has been asset-light, with limited marketing spend focused on targeted social media and digital campaigns, and plans to sponsor Mexican athletes and streamers to drive awareness. We look forward to supporting our local partners as we grow our presence in this exciting market.”

Shares in GAN Ltd (NASDAQ:GAN) closed at $1.94 per share in New York Tuesday.

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