As part of the move, GAN's SVP and Corporate Controller, Brian Chang, was appointed to assume the duties of CFO in the interim.

GAN has started the search process for its next CFO, and the company stated it will provide an update on the process in the near future.

Dermot Smurfit, CEO of GAN, commented on Flores' resignation: “I am deeply appreciative of Karen’s dedication to GAN and wish her all the best for the future.

“Karen’s leadership and financial acumen have been critical parts of GAN’s evolution to a US-listed public company, as well as our, at times, complex acquisition of Coolbet in early 2021." 

During her career at GAN, Flores made several trades of the company stock – most recently on 31 August 2022, when she exercised 42,020 units of GAN stock worth $61,949.

On average, Flores has traded about 9,904 units every two days since August 2021. As of 21 August, she still owned at least 49,520 units of GAN stock.

In other news, GAN recently announced it had launched its retail sportsbook software at the Island View Casino in Mississippi. 

The new system means players will be able to place wagers on personal devices or through the casino’s kiosks using the GameStack Player Account Management (PAM) system provided by GAN while on the property. 

Commenting on the launch at the time, Smurfit said: "Following our 2021 acquisition of Coolbet, we are thrilled to announce the premiere of GAN Sports, perhaps the most innovative sports experience available on-property anywhere in the US today."