GAN Limited
GAN Limited Shareholders Approve SEGA SAMMY Merger Proposal at Special General Meeting of Shareholders

GAN Limited, a leading North American B2B technology provider of real money internet gaming solutions and a leading International B2C operator of Internet sports betting, announced that, at a special general meeting of its shareholders held on February 13, 2024, GAN shareholders overwhelmingly approved the previously announced merger agreement and merger of GAN and a subsidiary of SEGA SAMMY CREATION INC. (SSC), an affiliate of SEGA SAMMY HOLDINGS INC.
Over 95% of the votes cast voted in favor of the approval of the merger agreement and the merger. Approximately 51% of GAN’s issued ordinary shares as of the close of business on January 2, 2024, the record date for the meeting, were represented at the meeting. Shareholders also approved, on a non-binding advisory basis, the compensation that may be paid or become payable to GAN’s named executive officers in connection with the merger.
The final voting results will be reported on a Form 8-K filed with the SEC by GAN with respect to the special shareholder meeting.
The closing of the merger is expected to occur in late 2024 or early 2025, subject to the satisfaction or waiver of certain conditions to closing, including the approval of the merger and change in control of GAN by certain gaming authorities. If the merger is completed, each GAN ordinary share issued immediately prior to the effective time of the merger will be automatically cancelled and converted into the right to receive $1.97 in cash with respect to each such ordinary share, without interest and less applicable withholding taxes. Upon the completion of the merger, GAN will cease to be a publicly-traded company and its ordinary shares will be delisted from The Nasdaq Capital Market and deregistered under the Securities Exchange Act of 1934, as amended.
GAN Limited
GAN Announces Approval of Merger by the Nevada Gaming Commission

GAN Limited has announced that it has received approval from the Nevada Gaming Commission (NGC) for the merger of GAN and a subsidiary of SEGA SAMMY CREATION INC. (SSC), an affiliate of SEGA SAMMY HOLDINGS INC.
The closing of the merger remains subject to other customary closing conditions including additional gaming regulatory approvals, and is expected to occur in late 2024 or early 2025.
If the merger is completed, each GAN ordinary share issued immediately prior to the effective time of the merger will be automatically cancelled and converted into the right to receive $1.97 in cash with respect to each such ordinary share, without interest and less applicable withholding taxes. Upon the completion of the merger, GAN will cease to be a publicly-traded company and its ordinary shares will be delisted from The Nasdaq Capital Market and deregistered under the Securities Exchange Act of 1934, as amended.
Committee on Foreign Investment in the US
GAN Announces CFIUS Clearance for SEGA SAMMY Merger

GAN Limited, a leading North American B2B technology provider of real money internet gaming solutions and a leading International B2C operator of Internet sports betting, announced that it has received clearance from the Committee on Foreign Investment in the US (CFIUS) for the proposed merger of GAN and a subsidiary of SEGA SAMMY CREATION INC (SSC), an affiliate of SEGA SAMMY HOLDINGS INC (SEGA SAMMY HOLDINGS).
The closing of the merger is also subject to approval of the merger and change in control of GAN by certain gaming authorities. The closing of the merger remains subject to other customary closing conditions, and is expected to occur in late 2024 or early 2025.
If the merger is completed, each GAN ordinary share issued immediately prior to the effective time of the merger will be automatically cancelled and converted into the right to receive $1.97 in cash with respect to each such ordinary share, without interest and less applicable withholding taxes. Upon the completion of the merger, GAN will cease to be a publicly-traded company and its ordinary shares will be delisted from The Nasdaq Capital Market and deregistered under the Securities Exchange Act of 1934, as amended.
Brian Chang
GAN Announces Recent Appointment of Mr. Brian Chang to Chief Financial Officer

GAN Limited announced that Mr. Brian Chang has recently been named the Company’s Chief Financial Officer. Mr. Chang had previously been serving in an interim capacity.
Mr. Chang will be focused on guiding the Company toward a timely closing with Sega Sammy Creation Inc. (Sega Sammy).
“I’d like to congratulate Brian on his appointment to permanently lead our finance team. Brian has proven his financial acumen having served as our interim Chief Financial Officer and he has the full backing of the board of directors. Brian’s proven leadership amongst the financial team and strong knowledge of accounting and financial controls leave us confident that he is the right person to guide us to a successful close of our merger with Sega Sammy,” said David Goldberg, the Company’s Chairman of the Board.
“Brian is a highly capable financial leader and has been an important member of the team since 2021. I’d like to congratulate Brian on his appointment, and I look forward to a continued good working relationship with him,” said Seamus McGill, GAN’s Chief Executive Officer.
“I’d like to thank both Seamus and the Board for their confidence. I look forward to the opportunity to continue to lead our finance team toward a successful closing of our merger with Sega Sammy,” said Brian Chang.
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