Online gambling platform technology provider GAN has officially been acquired by Sega Sammy Creation (SSC), a subsidiary of Japanese entertainment giant Sega Sammy. The transaction was initially announced in 2023 and has now been completed on May 27, 2025, marking GAN's exit from the NASDAQ Global Market.
According to the terms of the agreement, SSC acquired all of GAN's outstanding shares for approximately $1.97 per share in cash, representing a premium of 121% over the share price on the day the agreement was signed. Following the completion of the transaction, GAN's shares will no longer be publicly traded, and the company will be fully privatized.
GAN's CEO, Seamus McGill, stated that the acquisition is the result of years of effort in enhancing customer experience and product innovation. He emphasized that the board carefully evaluated all options and ultimately found SSC's proposal to best realize shareholder value and provide long-term development opportunities for the company's assets and employees.
Koichi Fukazawa, Executive Vice President and CFO of Sega Sammy Group, mentioned that GAN has deep industry experience and strong technical capabilities in the U.S. market, and this merger will inject new vitality into the group's business, marking a new chapter for Sega Sammy in the global gaming technology field.
It is worth noting that in July 2024, Sega Sammy also acquired Dutch content provider Stakelogic for 130 million euros (approximately $147 million), continuing to expand its layout in the iGaming market.
Additionally, GAN's financial report for the fiscal year 2024, released in March, showed that the company's revenue grew by 4% year-over-year, reaching $135 million, with the B2B business showing the most significant growth at $50.7 million, an increase of 17%.
