Sega Sammy nears completion of regulatory approvals to acquire GAN
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 Sega Sammy Holdings through its affiliated entity Sega Sammy Creation is nearing completion of procurement of all gaming regulatory approvals necessary to complete its planned acquisition of GAN.
GAN and SSC are parties to an Agreement and Plan of Merger dated November 7, 2023 pursuant to which GAN would merge into and become a wholly owned subsidiary of SSC.
The companies said: “The closing of the Merger is expected to occur on or about May 27, 2025. The closing remains subject to final gaming regulatory approvals and satisfaction of conditions to closing set out in the Merger Agreement. 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.”
