{"id":810425,"date":"2025-02-07T08:03:23","date_gmt":"2025-02-07T13:03:23","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/gan-announces-extension-of-sega-sammy-merger-agreement\/"},"modified":"2025-02-07T08:03:23","modified_gmt":"2025-02-07T13:03:23","slug":"gan-announces-extension-of-sega-sammy-merger-agreement","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gan-announces-extension-of-sega-sammy-merger-agreement\/","title":{"rendered":"GAN Announces Extension of SEGA SAMMY Merger Agreement"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>GAN Announces Extension of SEGA SAMMY Merger Agreement<\/b><\/p>\n<p>LAS VEGAS&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nGAN Limited (the \u201cCompany\u201d or \u201cGAN\u201d) (NASDAQ: GAN), 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 it has entered into an amendment to the merger agreement for the proposed merger of GAN and a subsidiary of SEGA SAMMY CREATION INC. (\u201cSSC\u201d), an affiliate of SEGA SAMMY HOLDINGS INC. (\u201cSEGA SAMMY HOLDINGS\u201d).<\/p>\n<p>\nThe amendment extends the \u201cEnd Date\u201d of the merger agreement from February 7, 2025 to May 31, 2025. The End Date is the date on which a non-breaching party can elect to terminate the Merger Agreement by notice to the other party, if the closing has not yet occurred. The parties have entered into the amendment to give them additional time to complete the process of securing necessary approvals from regulatory gaming authorities. Except for the extension of the End Date, the terms of the merger agreement are unchanged. The closing of the merger remains subject to other customary closing conditions, and is now expected to occur in the second quarter of 2025.<\/p>\n<p>\nSeamus McGill, Chief Executive Officer of GAN, stated, \u201cThe 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.\u201d<\/p>\n<p>\nIf 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. Upon the completion of the merger, GAN will cease to be a publicly-traded company and its ordinary shares will be delisted from The Nasdaq Capital Market and deregistered under the Securities Exchange Act of 1934, as amended.<\/p>\n<p><b><span class=\"bwuline\">About GAN<\/span><\/b><\/p>\n<p>\nGAN is a leading business-to-business supplier of internet gaming software-as-a-service solutions predominantly to the U.S. land-based casino industry. Coolbet, a division of GAN, is a market-leading operator of proprietary online sports betting technology with market leadership positions in select European and Latin American markets. GAN has developed a proprietary internet gaming enterprise software system, GameSTACK\u2122, which it licenses to land-based casino operators as a turnkey technology solution for regulated real money internet gaming, encompassing internet gaming, internet sports gaming, and virtual Simulated Gaming. Additional information about GAN can be found online at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.GAN.com&amp;esheet=54201385&amp;newsitemid=20250207344605&amp;lan=en-US&amp;anchor=www.GAN.com&amp;index=1&amp;md5=209027a0a1c2a0135c77df5081ebe2e0\">www.GAN.com<\/a>.<\/p>\n<p><b><span class=\"bwuline\">About SEGA SAMMY HOLDINGS<\/span><\/b><\/p>\n<p>\nSEGA SAMMY HOLDINGS is the holding company of the SEGA SAMMY Group, a group of companies comprising the Entertainment Contents Business, which offers a diversity of fun through consumer and arcade game content, toys and animation; the Pachislot and Pachinko Machines Business, which conducts everything from development to sales of Pachinko\/Pachislot machines; and the Gaming Business, which operates integrated resorts and develops casino gaming products and software.<\/p>\n<p>\nSSC is a wholly-owned subsidiary of SEGA SAMMY HOLDINGS. SSC, together with its wholly-owned subsidiary SEGA SAMMY CREATION USA Inc., develop, manufacture and distribute land-based and online\/social casino gaming products and software.<\/p>\n<p><b><span class=\"bwuline\">Forward-Looking Statements<\/span><\/b><\/p>\n<p>\nThis press release contains \u201cforward looking statements\u201d regarding the closing of the merger and the expected timing thereof and other future related events. Such statements are based upon current estimates and expectations that are subject to risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Factors that could cause actual events to differ include, but are not limited to the failure to satisfy the closing conditions to the merger, including obtaining the approval of the merger and change in control of GAN by certain gaming authorities and other risks detailed in GAN\u2019s filings with the SEC, including its proxy statement filed with the SEC on January 9, 2024. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. GAN undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250207344605r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250207344605\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250207344605\/en\/<\/a><\/span><\/p>\n<p><b>Investor Contacts:<br \/>\n<br \/>GAN<br \/>\n<\/b><br \/>Robert Shore<br \/>\n<br \/>Vice President, IR and Capital Markets<br \/>\n<br \/>(610) 812-3519<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:rshore@GAN.com\">rshore@GAN.com<\/a><\/p>\n<p><b>Alpha IR Group<br \/>\n<\/b><br \/>Ryan Coleman<br \/>\n<br \/>(312) 445-2870<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:GAN@alpha-ir.com\">GAN@alpha-ir.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Nevada<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Entertainment Technology General Entertainment Software Internet Casino\/Gaming<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>GAN Announces Extension of SEGA SAMMY Merger Agreement LAS VEGAS&#8211;(BUSINESS WIRE)&#8211; GAN Limited (the \u201cCompany\u201d or \u201cGAN\u201d) (NASDAQ: GAN), 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 it has entered into an amendment to the merger agreement for the proposed merger of GAN and a subsidiary of SEGA SAMMY CREATION INC. (\u201cSSC\u201d), an affiliate of SEGA SAMMY HOLDINGS INC. (\u201cSEGA SAMMY HOLDINGS\u201d). The amendment extends the \u201cEnd Date\u201d of the merger agreement from February 7, 2025 to May 31, 2025. The End Date is the date on which a non-breaching party can elect to terminate the Merger Agreement by notice to the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/gan-announces-extension-of-sega-sammy-merger-agreement\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GAN Announces Extension of SEGA SAMMY Merger Agreement&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-810425","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GAN Announces Extension of SEGA SAMMY Merger Agreement - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/gan-announces-extension-of-sega-sammy-merger-agreement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GAN Announces Extension of SEGA SAMMY Merger Agreement - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"GAN Announces Extension of SEGA SAMMY Merger Agreement LAS VEGAS&#8211;(BUSINESS WIRE)&#8211; GAN Limited (the \u201cCompany\u201d or \u201cGAN\u201d) (NASDAQ: GAN), 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 it has entered into an amendment to the merger agreement for the proposed merger of GAN and a subsidiary of SEGA SAMMY CREATION INC. (\u201cSSC\u201d), an affiliate of SEGA SAMMY HOLDINGS INC. (\u201cSEGA SAMMY HOLDINGS\u201d). The amendment extends the \u201cEnd Date\u201d of the merger agreement from February 7, 2025 to May 31, 2025. 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