GAN’s Technology Solution Now Powering Real Money Gaming for Churchill Downs Incorporated Across Five States on Single App in Time for the Kentucky Derby®

Successfully transitions Pennsylvania & Indiana onto platform, while concurrently launching mobile sports betting in Colorado

GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading full-service internet gaming software-as-a-service provider to the real money internet gaming, online sports betting, and simulated gaming industries, today announced a successful multi-state transition onto its platform for Churchill Downs Incorporated’s TwinSpires branded sports betting and iGaming operations in Pennsylvania and sports betting operations in Indiana. Additionally, GAN launched inaugural mobile sports betting operations for TwinSpires in Colorado, which, when coupled with the previously launched solutions in Michigan and Tennessee, brings the GAN-powered TwinSpires brand to five total states. This provides for TwinSpires to leverage its strong brand across horse racing and sports customers in advance of the upcoming 147^th running of the Kentucky Derby on May 1^st.

Following the migration onto GAN’s technology platform the company is pleased to support TwinSpires Sportsbook in Michigan, Colorado, Tennessee, Pennsylvania and Indiana with its leading player account management platform, in addition to powering TwinSpires’ Casino offering in Pennsylvania and Michigan. Both online casino and sports customers will be able to enjoy an uninterrupted playing experience with any product, in any state, on a single app leveraging GAN’s proprietary technology operating framework.

Dermot Smurfit, Chief Executive Officer of GAN, commented:

“The team did an amazing job of concurrently migrating and launching TwinSpires’ Sportsbook & iGaming offering in three states in the span of a week, which serves to highlight our speed to market and unique capabilities to seamlessly handle highly complex migrations. We remain humbled to work with an industry leading entertainment company with some of the most historic and diversified assets in the gaming industry. We look forward to our continued partnership to assist Churchill Downs Incorporated in its efforts to replicate their longstanding success in land-based gaming in online sports betting and iGaming.”

Ian Williams, President of Online Gaming, Churchill Downs Incorporated, commented:

“We set out an ambitious plan to migrate from our existing supplier and launch our TwinSpires brand in three new states before this year’s Kentucky Derby. Both teams have done a tremendous job in achieving this goal and we believe we are well-positioned for growth as we roll into Derby week, our busiest week of the year, with TwinSpires now available for betting on sports, iGaming and Kentucky Derby in five states.”

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. Coolbet, a division of GAN, 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 casino operators as a turnkey technology solution for regulated real money internet gambling, encompassing internet gaming, internet sports gaming and virtual Simulated Gaming. Additional information about GAN can be found online at www.GAN.com.

About Churchill Downs Incorporated (NASDAQ: CHDN)

Churchill Downs Incorporated is an industry-leading racing, online wagering and gaming entertainment company anchored by our iconic flagship event, the Kentucky Derby. We own and operate three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines in Kentucky. We also own and operate TwinSpires, one of the largest and most profitable online wagering platforms for horse racing, sports and iGaming in the U.S. and we have seven retail sportsbooks. We are also a leader in brick-and-mortar casino gaming in eight states with approximately 11,000 slot machines and video lottery terminals and 200 table games. Additional information about Churchill Downs Incorporated can be found online at www.churchilldownsincorporated.com.

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 statements regarding future business opportunities 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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