GAN sees $1m repurchase of common shares
The company acquired 303 thousand shares on the open market during the second quarter.
The North American B2B technology provider of real money internet gaming solutions, GAN Limited, announced the repurchase of $1m worth of common shares valued at an average cost of $3.30 per share.
Under its share repurchase authorization, the company revealed that it has repurchased approximately 303 thousand shares on the open market. There is approximately $4m remaining under the current authorization, which expires on November 30, 2022.
The authorization places GAN under no obligation to acquire any particular number of shares and repurchases may be suspended or terminated at any time.
Earlier this month, GAN Limited announced a partnership with Nuvei Corporation to enable operators to access Nuvei’s full suite of payment solutions. The companies will integrate these payment solutions with GAN’s software-as-a-service gaming platform technology.
Nuvei CEO and chair Phillip Fayer said: “Offering gaming operators a fully customizable payments platform, including local acquiring solutions and a full suite of payment methods through a single integration, is at the heart of our vision for the future of payments in gaming.”
GAN’s President of Enterprise Solutions Don Ryan added: “GAN and Nuvei have strong reputations for delivering best-in-class solutions for operators. This strategic partnership takes our combined proposition to the next level.”
Back in April GAN launched its GameSTACK technology platform to support our operating partner as the PAM (Player Account Management) system enabling both online sports betting and iGaming in Ontario.
In regards to the launch, Ryan commented: “I’d like to thank the team for their diligent work to power our operating partner on the market on the first day of operations. We expect the Ontario iGaming and online sports betting market to be a key growth driver given the province’s population density.”
The GameSTACK platform is licensed to land-based US casino operators as a turnkey technology solution for regulated real money internet gambling, encompassing internet gaming, internet sports betting and social casino gaming branded.
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