GAN Ltd is an online gaming enterprise. The company says that its shareholders overwhelmingly approved the merger deal with casino equipment maker Sega Sammy Creation Inc. This deal valued at $107.6 million US dollars.
A unit of Japan’s Sega Sammy Holdings Inc, Sega Sammy Creation announced in November that it is to pay $1.97 US dollars per share. This will go through a special purpose company to acquire GAN. GAN is a firm offering business-to-business software services in the United States. Aside from this, it also offers business-to-business consumer services in Europe and South America.
The company stated in a press release that over 95 percent of the votes cast voted in favor of the approval of the merger agreement and the merger. The meeting represented approximately 51% of GAN’s ordinary shares issued as of the close of business on January 02, 2024, the record date.
The company expects to close the merger in late this year or early next year. This subjects to the satisfaction or waiver of certain conditions to closing. It also includes the approval of the merger and change in control of GAN by certain gaming authorities.
GAN will stop being a publicly-traded-company upon the completion of the merger.
According to the Sega Sammy Holdings’ management, acquisition of GAN would help create significant synergies with other businesses of the group. This is especially as the iGaming segment is expected to be legalized in more states in the United States market.
The suitor provided further insight on its online strategy in recent comments to GGRAsia.
