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November 24, 2022 Sports Betting, Casino, Online, Personnel

GAN Chief Financial Officer Karen E. Flores resigns

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GAN SVP and Corporate Controller Brian Chang will assume Flores' responsibilities until a replacement is found.

GAN, the B2B technology provider of iGaming solutions and B2C operator of online sports betting, has accepted the resignation of Karen E. Flores as its Chief Financial Officer. 

Flores has also left her position on the company’s board of directors, effective as of 25 November 2022.  

However, GAN has already acted by giving Flores’ responsibilities to its SVP and Corporate Controller, Brian Chang. This is until the company has completed its search for a new Chief Financial Officer. 

GAN CEO Dermot Smurfit said: “Karen’s leadership and financial acumen have been critical parts of GAN’s evolution to a US-listed public company as well as our, at times, complex acquisition of Coolbet in early 2021. 

“I am deeply appreciative of Karen’s dedication to GAN and wish her all the best for the future.” 

Recently, GAN launched its GAN Sports product for the Island View Casino in Mississippi.  

The in-house developed online and retail sportsbook software has been launched across the 20 internet-connected kiosks inside the venue, which was said to be followed and complimented by the ‘Bet the V’ mobile sportsbook. 

The new system means players can place wagers on personal devices or through the casino’s kiosks using the GameStack Player Account Management (PAM) system provided by GAN, while on the property. 

GAN also posted its Q3 results recently, which showed it took a total revenue of $32.1m.  

The gambling business said revenue was ‘relatively flat compared to the prior-year quarter.’ It added that its B2B revenue had increased 14% to $1.5m, which it says was ‘offset by a $1.7m decrease in its B2C segment, due to unfavorable foreign currency fluctuations.’ 

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