On Monday (May 19) it was announced that SEGA SAMMY is nearing completion of all gaming regulatory approvals necessary to complete its planned acquisition of GAN.
GAN is a business-to-business supplier of internet gaming software-as-a-service solutions and serves predominantly the United States land-based casino industry.
This press release news comes in the same month that the latest financial results were posted by the company. In the first quarter of 2025, GAN saw total revenue of $29.4 million which marked a 4% decrease compared to the first quarter of 2024. This was reported to be primarily attributable to a decrease in the B2B segment.
The company, however, did see an increase in B2C Segment Revenue as this reached $24.3 million versus $18.3 million. The increase was driven by growth in both Europe and Latin America.
The B2B Gross Operator Revenue saw a drop in the first quarter of 2025, with this totaling $144.6 million versus $632.0 million in the prior year quarter. This was said to be driven by the expiration of a multistate B2B commercial contract.
SEGA SAMMY and GAN acquisition could be finalized soon
The closing of the merger is expected to happen on or around May 27, 2025. “The closing remains subject to final gaming regulatory approvals and satisfaction of conditions to closing set out in the Merger Agreement,” the press release said.
“If the Merger is completed, each ordinary share of GAN issued and outstanding immediately prior to the effective time of the Merger will be cancelled and converted into the right to receive $1.97 in cash, without interest and less applicable withholding taxes.
“If the Merger is completed, GAN will cease to be a publicly traded company.”
SEGA SAMMY HOLDINGS is the holding company of the SEGA SAMMY Group, which includes a number of entertainment-based companies. It’s based in Japan, and while it spans numerous niches within media entertainment, it’s known for its influence in the video games market.
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