Sega Sammy Acquires Online Casino Company
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Akihabara News (Tokyo) — In a significant strategic move, Sega Sammy Holdings and its subsidiary Sega Sammy Creation have revealed plans to acquire GAN Limited (GAN), which is a Nasdaq-listed Software as a Service provider for casino operators in the United States as well as an online gaming operator in Europe and South America.
This acquisition, set to be completed through a newly established special purpose company in Bermuda, has received support from GAN’s board of directors. However, the finalization of the deal is contingent upon approval from GAN shareholders, regulatory approvals in relevant jurisdictions, and the fulfillment of customary conditions.
The closing date is expected to come at the end of next year.
Sega Sammy, known for its ventures such as Paradise City in collaboration with South Korea’s Paradise Co. and contributions to casino gaming equipment, is looking to benefit from the rapidly expanding online gambling market in the United States. This market was valued at approximately US$12 billion last year, is expected to reach US$16.5 billion this year and a staggering US$27 billion in 2027.
The agreed-upon acquisition price is set at US$1.97 per share, with GAN shareholders receiving the consideration in cash. Following the merger, GAN will become a wholly-owned subsidiary of Sega Sammy Creation.
GAN’s market-leading online gaming technologies, featuring the Player Account Management System and Remote Gaming Server, are considered highly competitive in the US market. Sega Sammy anticipates that the synergy between GAN’s technology and its own customer base and content development capabilities will lead to expanded distribution and an increased customer reach.
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