GAN officially acquired by Sega Sammy
The merger has now been finalised following its initial announcement in 2023.
Key points:
– Sega Sammy has announced the official completion of its GAN acquisition
– The operator has been acquired by SSC for approximately $1.97 per share
– This represents a 121% premium of GAN’s valuation in November 2023, when the deal was agreed
Online gaming solutions provider and sports betting operator Gaming Account Network (GAN) has been officially acquired by Sega Sammy via its affiliated organisation – Sega Sammy Creation (SSC).
Indeed, this acquisition has seen all of GAN’s outstanding securities acquired by SSC for approximately $1.97 per share – a premium of 121% over GAN’s stock closing price on the day the merger was initially agreed in November 2023. Following this deal, GAN’s independent shares will no longer be traded on the Nasdaq Global Stock Market following the market’s closure on 27 May 2025.
Speaking on this latest update, GAN CEO Seamus McGill said: “Our acquisition by SSC is an exciting next step for GAN and the culmination of many years of hard work to deliver an unparalleled and unique gaming experience for our clients and players. GAN’s board of directors carefully evaluated a range of options to maximise shareholder value, and SSC’s recognition of the value of our assets and people leaves us confident that this transaction is in the best interest of our shareholders and provides a home for our assets to flourish.”
Building on this was Koichi Fukazawa, Senior EVP and Group CFO of Sega Sammy, who stated: “We are excited to be bringing the GAN team onboard. The team brings significant experience in the US market, along with significant technical and development resources. This marks a new chapter in Sega Sammy’s operations, and we look forward to serving our customers with increased product offerings and resources.”
Good to know: In July 2024, Sega Sammy also acquired Stakelogic for a €130m ($147.3m) sum
It was announced last week that the pair were expected to complete this most recent merger transaction before the month’s end, bringing to a close a deal which has been in the works for around 18 months.
Elsewhere, in March, GAN reported its FY 2024 financial results, highlighting a revenue rise of 4% year-on-year to $135m, primarily driven by a 17% increase in B2B revenue, which reached $50.7m.
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