GAN Plc has reached a ‘definitive agreement’ to acquire Malta-licensed operator ‘Coolbet’ for a total consideration of €149 million. The igaming software supplier will acquire Coolbet from its operating firm Vincent Group Malta, which will see it takeover the operator’s brand IP, trading and proprietary software assets. Updating investors, GAN branded Coolbet one of the fastest-growing European B2C operators, who …
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The UK Gambling Commission (UKGC) has announced action against BGO Entertainment, GAN Plc and NetBet Enterprises Ltd after reviewing their licences following a number of failures which included not doing enough to keep consumers safe and failing to prevent money laundering and criminal spend. As a result of those reviews, two of the businesses, BGO and Gan PLC, have had …
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London-listed GAN Plc, a specialist supplier of online gambling software solutions for the US market, has confirmed the departure of Richard Santiago as Chief Financial Officer and Executive Director. Santiago departs GAN executive team to pursue opportunities ‘unrelated to the global gambling sector’. The company has informed that Santiago will be replaced as CFO by Rey del Valle, a seasoned …
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London-listed, US market turnkey systems provider GAN Plc has this morning communicated the ‘signing of a material long-term contract’ significantly expanding its existing relationship with FanDuel Group. Updating the market, GAN governance details that the company will act as FanDuel’s platform for ‘rapid internet casino deployments’. Furthermore, GAN’s platform provisions will be utilised by FanDuel as lead player management systems …
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Updating the market, B2B gambling enterprise turnkey systems provider GAN has confirmed that it has entered a strategic US services partnership with betting platform and software supplier SBTECH. The partnership will see SBTECH’s sports betting provisions integrated within GAN’s enterprise platform software ‘GameSTACK’. Moving forward, GAN management will be able to offer sports betting services to ‘select partners’ of its …
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Irish finance magnet Dermot Desmond has invested £1.3 million (€1.5 million) in London AIM listed igaming systems provider GAN. Updating the market, GAN governance revealed that Desmond’s IIU Nominees (IIU) had purchased +3 million shares in the firms new share placement. Desmond’s purchase sees IIU take an approximate 5% equity in GAN. GAN governance stated that the funds would be …
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London AIM-listed GAN Plc (formerly GameAccount Network) has welcomed Chicago financial advisory David Capital Partners as new investors raising £450,000 for its business. GAN governance declared that the firm had conducted a new share placement of 1.5 million ‘ordinary shares’ issued at a price of 30p. The completed purchase will see David Capital hold 2.2% of total share capital of …
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Online gambling B2B supplier GameAccount Network (GAN) closes a tough fiscal 2015 (period ending December 2015) reporting that its operating losses have doubled to £5.6 million (FY 2014:£2.6 million). Detailing full-year 2015 metrics, GAN recorded a net revenue decrease of 8% to £6 million (FY 2014: £6.5 million). Closing 2015 GAN would report clean EBITDA losses of £3 million (FY …
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Digital gaming content and systems provider GAN (formerly known as Game Account Network) has announced the appointment of Michael Daly as its Vice President of Systems for North America. Daly joins GAN, having served as CEO of Nevada based Automated Cash Systems (2014-2015). Daly has prior experience in the gambling industry having served in numerous senior management roles from …
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Digital gaming systems and content provider Game Account Network has announced the it has re-branded its corporate assets to GAN, effective as of 9 September. The Company commences trading as ‘GAN’ immediately and will launch its new-look logo and design schema at today’s eGaming Review North America’s “Power50” Internet gaming conference at Pelican Hill hotel, Newport Beach, California. Giving further …
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