Sega Sammy’s Multi-Million GAN Acquisition Approved by NGCB
Sega Sammy Creation’s plans to acquire GAN Limited for $107.6 million have moved a step forward with the proposal being approved by the Nevada Gaming Control Board.
GAN logo, Sega Sammy’s acquisition of GAN approved by NGCB
LISTEN TO THIS ARTICLE:Sega Sammy’s GAN acquisition, which was first announced in December 2023, will now move to the Nevada Gaming Commission for its final decision on September 26. The deal is an important step for Sega Sammy as it seeks to strengthen its position in the US gaming industry by expanding its digital and online gaming presence.
Sega Sammy Creation, a subsidiary of Japan’s Sega Holdings Inc., specializes in producing gaming machines, such as slot games and arcade systems. Acquiring GAN is part of the company’s broader strategy to grow its online gaming and sports betting portfolio.
GAN, the target of the acquisition, is well-known for its proprietary GameSTACK platform, which provides comprehensive solutions for regulated online gambling and social gaming. Its clients include various US online casinos. Once the acquisition is finalized, GAN will no longer be listed on the NASDAQ Capital Market, and its shares will be delisted.
A Strategically Important Deal
During a presentation to the Nevada Gaming Control Board, Naoki Kameda, Sega Sammy Creation’s president and COO, explained the strategic benefits of acquiring GAN. He said that the technology integration would enhance Sega Sammy’s online platform in both the U.S. and European markets. Kameda also noted that expanding GAN’s influence in Nevada, as well as its partnership with Station Casinos through the STN Sports app, was a top priority. He mentioned ongoing discussions with other casinos, such as Fontainebleau Las Vegas, to further extend their sports betting services.
Kameda highlighted Sega Sammy’s intention to collaborate with traditional brick-and-mortar casinos in order to support growth in both retail and online gaming markets. He also pointed to the opportunities in social gaming as a key area for future development. Kameda praised GAN’s advanced technology and user-friendly mobile sports betting app, which allows for easy transition between in-person to online gaming.
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No Conditions Attached to Initial Approval
The Nevada Gaming Control Board granted its approval without imposing any conditions on the acquisition. Sega Sammy’s legal representatives assured the board that concerns over GAN’s prior financial issues and leadership changes would be addressed under the new ownership. They emphasized the company’s commitment to stabilizing and expanding GAN’s operations post-acquisition. Once the final regulatory approval is granted, the merger is expected to be completed by late 2024 or early 2025.
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