GAN up three per cent with growth in Europe offset by Latin America
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, generated revenue of $31.7m for the fourth quarter and year ended December 31, 2024 up by three per cent in the B2C segment.
Growth in Europe was driven by increased player activity, which was offset by reduced player activity and unfavorable exchange rates in Latin America.
Seamus McGill, GAN’s Chief Executive Officer, said, “I’d like to thank our entire global team for continuing to execute and grow our business on a streamlined cost structure. This led to stronger financial performance in 2024 with growth in both the top and bottom line. We are simultaneously working diligently to close our merger with SEGA SAMMY. We continue to work through the remaining regulatory requirements and expect the merger to be successfully completed in the second quarter of 2025.”
The closing of the merger with SEGA Sammy remains subject to other customary closing conditions, and is now expected to occur in the second quarter of 2025.
Mr. McGill said: “The parties continue to respond to regulatory requests. This process takes time, but we are making great progress and working with SEGA SAMMY in anticipation of a successful closing.”
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.
