- SEGA SAMMY is close to obtaining necessary regulatory approvals for the acquisition of GAN Limited (GAN, Financial).
- The merger is scheduled to be finalized on or around May 27, 2025.
- GAN shareholders will receive $1.97 per share in cash upon completion of the merger.
SEGA SAMMY HOLDINGS INC., through its subsidiary SEGA SAMMY CREATION INC., is on the verge of completing the procurement of all required gaming regulatory approvals for its intended acquisition of GAN Limited (GAN). The two entities entered into a Merger Agreement on November 7, 2023, with GAN set to merge into SEGA SAMMY CREATION, transforming into a wholly owned subsidiary.
The merger, expected to close around May 27, 2025, is contingent upon final gaming regulatory approvals and the fulfillment of various closing conditions outlined in the Merger Agreement. Should the merger proceed as planned, each ordinary share of GAN standing before the merger's effective time will be cancelled and converted to a cash payment of $1.97 per share, subject to applicable withholding taxes.
GAN, a NASDAQ-listed company, known for its significant footprint in the real money internet gaming solutions sector, will cease to be publicly traded following the completion of this transaction. GAN has been a prominent provider of internet gaming software-as-a-service solutions primarily to the United States land-based casino industry. The company's notable division, Coolbet, holds leading positions in online sports betting technology across select European and Latin American markets.
SEGA SAMMY HOLDINGS, a diversified group, continues to expand its influence through this strategic acquisition. SEGA SAMMY CREATION develops and distributes land-based and online/social casino gaming products and software, bolstering the parent company's gaming portfolio.
