GAN extends Sega Sammy merger date to May 31

The new date represents a period in which a non-breaching party can elect to terminate the agreement by notice to the other party.

GAN Limited has extended the end date of its merger agreement with Sega Sammy Creation, an affiliate of Sega Sammy Holdings, which was originally set for February 7 but has now been prolonged to May 31. 

The end date represents a period of time in which a non-breaching party can elect to terminate the merger agreement by notice to the other party.

It was stated that both parties agreed to the extension to provide additional time for securing the remaining necessary approvals from regulatory gaming authorities. 

“The parties continue to respond to regulatory requests. This process takes time, but we are making great progress and working with SEGA SAMMY in anticipation of a successful closing,” GAN CEO Seamus McGill said. 

Good to know: GAN extended its partnership with Internet Vikings into the state of Arkansas on January 22 to continue delivering tailored hosting services for GAN’s operational needs

If the merger is completed, each GAN ordinary share issued immediately prior to the effective time of the merger will be automatically cancelled and converted into the right to receive $1.97 in cash with respect to each share.

Upon completion, GAN will cease to be a publicly-traded company and its ordinary shares will be delisted from the market. The merger is still expected to occur, but will now be set for the second quarter of 2025. 

Kirk Geller

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