GAN shareholders approve merger with SEGA SAMMY subsidiary

GAN Limited, a North American provider of internet gaming solutions and online sports betting, announced that its shareholders approved the merger with a subsidiary of SEGA SAMMY CREATION INC., an affiliate of SEGA SAMMY HOLDINGS INC., a Japanese entertainment conglomerate.

The merger agreement was supported by over 95% of the votes cast at a special general meeting held on February 13, 2024. The merger is expected to close in late 2024 or early 2025, subject to regulatory approvals and other conditions.

Upon completion of the merger, each GAN ordinary share will be converted into $1.97 in cash, and GAN will cease to be a publicly-traded company. GAN is a leading supplier of internet gaming software to the U.S. land-based casino industry, and operates Coolbet, a proprietary online sports betting platform. SEGA SAMMY HOLDINGS is a holding company of various businesses, including consumer and arcade games, toys, animation, pachinko machines, and resort facilities. Its subsidiary, SEGA SAMMY CREATION, develops and distributes land-based and online/social casino gaming products and software.

GAN Limited sings agreement to acquire Coolbet for €149 million