GAN
GAN Files Definitive Proxy Statement and Will Hold Special Meeting of Shareholders to Vote on Merger with Affiliate of SEGA SAMMY HOLDINGS, INC.
GAN, 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 the Company will hold its Special Meeting of Shareholders to vote on the proposed merger with a subsidiary of SEGA SAMMY CREATION INC., an affiliate of SEGA SAMMY HOLDINGS, INC. The meeting will take place on Tuesday, February 13, 2024, at 10:00 AM Pacific Time and will be held in a virtual format via live audio webcast. The unique link to join the webcast will be provided to shareholders upon registering to attend the meeting.
Shareholders of record as of the close of business on January 2, 2024, and shareholders holding a legal proxy for the meeting, are eligible to vote at the meeting. Shareholders who are eligible to vote have been mailed a notice of special meeting, proxy statement, proxy card and instructions on how to vote their shares. Shareholders are encouraged to vote and submit proxies as early as possible in advance of the meeting by one of the methods described in the proxy statement.
Shareholders will find important information and detailed instructions about how to participate in the virtual meeting in the proxy statement that is available on the Company’s website, www.gan.com, within the Investors page.
Stakelogic, a leading innovator in online casino content, is thrilled to announce a strategic partnership with GAN, the top online gaming platform for social casinos in the United States. Through this collaboration, Stakelogic’s highly acclaimed slots and live dealer products will soon be available on social casino platforms across North America, delivering an exciting new wave of interactive entertainment to players nationwide.
Through this partnership, GAN will also distribute Stakelogic’s hybrid slots, including the Spin-to-Win Live Jackpot Game Show and the Super Wheel live dealer bonus game. This will offer US social casino players an unprecedented blend of traditional slots and live casino excitement.
Stakelogic’s premium live dealer games, such as roulette and blackjack, along with innovative live game shows like Super Stake Roulette 5,000X and Super Wheel – The Live Game Show, will also be made available across the United States. This groundbreaking approach combines social casino gaming with live dealer interaction, marking a major advancement for the US market.
Additionally, social casino operators working with GAN will gain access to custom-branded slots and live products designed specifically for their platforms, enabling them to deliver a unique and tailored gaming experience to their players.
Stephan van den Oetelaar, CEO at Stakelogic said: “We’re thrilled to join forces with GAN to bring our slot and live casino products to the US social casino market. This partnership allows us to swiftly roll out our content across the country, delivering a unique gaming experience tailored for American players. We believe branded, custom-made content will become the industry standard in the coming years. In the months ahead, we will work closely with GAN and its social casino operators to develop a truly bespoke offering that sets a new benchmark for player engagement and entertainment.”
Guiseppe Gardali, President B2B at GAN said: “With our partnership with Stakelogic, GAN is elevating social casino entertainment to a whole new level. Stakelogic’s hybrid slots, which blend traditional slots with live casino elements, are truly groundbreaking for the industry. Live Casino is still an emerging concept in the US, and thanks to Stakelogic, we’re able to lead the way in delivering the most innovative and high-quality gaming experiences available today.”
This partnership also reflects Stakelogic’s broader strategic vision, building upon collaborations with top industry players like GAN in the social casino sector and Bally’s in the real money live casino space. Together, these initiatives are enabling Stakelogic to expand its presence in the US and bring cutting-edge gaming experiences to a whole new audience.
Award-winning provider makes key hire to secure its position as one of the industry’s top employers
Full-service betting and gaming platform provider Sportingtech has hired Claire Bailiss (pictured) as Chief People Officer (CPO) to increase employee engagement, promote a positive working culture and lead talent development.
Bailiss joins Sportingtech from American iGaming platform GAN, where she worked for more than seven years, most recently as Director of HR. She has previously worked at Ask. com as HR Business Partner and Turner Broadcasting System and EMI Group as HR Manager.
At Sportingtech, she will develop and implement the company’s human resources strategy and policies, lead a wider HR and talent acquisition team and foster a productive work environment that promotes diversity, equity and inclusion.
Bailiss will also implement programmes to attract and retain top talent and manage professional development, compensation and benefits.
After a series of internal promotions, Sportingtech has now introduced the role of CPO to further enhance its positive working environment and boost employee satisfaction.
“I am delighted to officially welcome Claire as our new Chief People Officer,” the Chief Executive Officer for Sportingtech, Tom Ustunel, said. “Claire has been successfully building high-performing teams and fostering positive environments for more than two decades.
“Our brilliant team is our strongest asset and under Claire’s leadership we look forward to strengthening our position as one of the industry’s best employers.”
“People are at the heart of what makes Sportingtech so successful, which is why I am delighted to join this brilliant company as CPO,” Bailiss said. “I will look forward to working with new and existing members of the Sportingtech team as they share in the company’s achievements and build on its continued growth.”
Purchase price of $1.97 per share represents over 120% premium to latest closing price
All-cash transaction subject to customary closing conditions, regulatory approvals, and approval of GAN 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, today announced that the Company has entered into a definitive Agreement and Plan of Merger (the “Merger Agreement”) with Sega Sammy Creation Inc., (“SSC”), a wholly-owned subsidiary of Sega Sammy Holdings, Inc. (“Sega Sammy”) an international conglomerate operating in the entertainment, gaming and resorts businesses.
Under the Merger Agreement, at the effective time of the merger, each of GAN’s issued ordinary shares will be converted into the right to receive in cash $1.97 per share, which reflects a premium of 121% over the closing price of GAN’s ordinary shares on November 7, 2023, the last trading day prior to the date of this announcement.
Seamus McGill, Chairman and Interim Chief Executive Officer of GAN, commented: “After a thoughtful review of value creation opportunities available to us, we are pleased to have reached this agreement with SSC. Market share concentration in the U.S. B2C space, a slower than expected adoption of regulated online gaming in the U.S., along with changes to key customer contracts make the near-term operating environment challenging without ample capital resources. Sega Sammy has those resources and GAN is a strategic complement to their existing gaming portfolio. We believe this all-cash offer, at a substantial premium to recent trading prices, is the value-maximizing path for our shareholders.”
Approvals and Timing
The proposed merger is subject to the approval of GAN shareholders. The Company will ask its shareholders to consider and vote to approve the Merger Agreement at a Special Meeting of Shareholders, which is expected to be held no later than March 31, 2024.
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