Sega Sammy officially completes acquisition of GAN
GAN and Sega Sammy Creation originally came to agreement on merger terms during November 2023, with GAN now becoming a wholly owned subsidiary of the company.
Key Points
- Sega Sammy acquired all outstanding securities of GAN for $1.97 per share in cash, which represents a premium of over 121% to GAN’s closing stock price on November 7, 2023
- GAN’s ordinary shares will also cease to be traded on the Nasdaq Global Stock Market effective as of May 27, 2025
Sega Sammy, through its affiliated entity Sega Sammy Creation, has officially completed the acquisition of GAN Limited for $1.97 per share in cash, which represents a premium of over 121% to GAN’s closing stock price on November 7, 2023 when the merger was first announced.
“Our acquisition by SSC is an exciting next step for GAN and the culmination of many years of hard work to deliver an unparalleled and unique gaming experience for our clients and players,” GAN CEO Seamus McGill said.
“GAN’s board of directors carefully evaluated a range of options to maximize shareholder value, and SSC’s recognition of the value of our assets and people leaves us confident that this transaction is in the best interest of our shareholders and provides a home for our assets to flourish.
“We look forward to seeing the company continuing to grow with the guidance of a global gaming and entertainment leader.”
GAN’s ordinary shares will also cease to be traded on the Nasdaq Global Stock Market effective May 27, 2025, with the company now serving as a wholly owned subsidiary of Sega Sammy Creation.
Good to know: GAN received approval from the Nevada Gaming Commission for its merger with Sega Sammy Creation on October 10, 2024
“We are excited to be bringing the GAN team onboard. The team brings significant experience in the US market, along with significant technical and development resources,” Sega Sammy Senior EVP and Group CFO Koichi Fukazawa said.
“This marks a new chapter in Sega Sammy’s operations, and we look forward to serving our customers with increased product offerings and resources.”
On May 9, 2025, GAN released the figures behind its financial performance for the first quarter of 2025, including a decrease in revenue year-over-year of 4% to $29.4m, as well as a net loss of $6.8m throughout the period, representing an increase of 64.1% from the prior year period.
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