Beach Point Capital Management Announces Private Credit Investment in Leading Gaming Technology Provider GAN Limited
Beach Point Capital Management LP has made a $30 million private credit investment in GAN Limited (NASDAQ: GAN), a premier provider of internet gaming software-as-a-service. This funding aims to enhance GAN's capabilities in developing proprietary gaming content, securing new B2B contracts, and expanding into new markets. CEO Dermot Smurfit highlighted that this investment will bolster shareholder value, while Beach Point's Portfolio Manager Brian Himot expressed excitement about GAN's role in advancing gaming technology.
- Secured a $30 million investment from Beach Point Capital Management.
- Investment will be used to develop proprietary gaming content and expand into new markets.
- Strengthens GAN's position in the competitive online gaming technology sector.
- None.
LOS ANGELES, April 28, 2022 /PRNewswire/ -- Beach Point Capital Management LP, a private credit focused investment manager, today announced a
GAN operates a North American B2B technology offering for real money internet gaming solutions and an International B2C operation for internet casino and sports betting. Beach Point's investment will help GAN develop proprietary gaming content, facilitate new B2B contracts and expand into new markets.
"GAN is at the forefront of online gaming and sports betting technology and we're excited to support their expansion," said Brian Himot, Portfolio Manager at Beach Point. "Innovative firms like GAN will continue pushing the limits of gaming technology and we are committed to being a part of that."
"This transaction enhances our ability to invest in market leading technology and create shareholder value," said Dermot Smurfit, Chief Executive Officer of GAN. "The Beach Point team has a deep knowledge of our industries and we are pleased to work with them on furthering our mission for years to come."
About Beach Point Capital Management
Beach Point Capital Management is a Los Angeles based investment manager specializing in credit-related investments. The firm employs a flexible, value-oriented and risk-controlled approach and focuses on complex and less followed opportunities. As of March 31, 2022, Beach Point manages
About GAN Limited
GAN is a leading business-to-business supplier of internet gambling software-as-a-service solutions predominantly to the U.S. land-based casino industry and is a market-leading operator of proprietary online sports betting technology with market leadership positions in selected European and Latin American markets. GAN has developed a proprietary internet gambling enterprise software system, GameSTACK™, which it licenses to land-based U.S. casino operators as a turnkey technology solution for regulated real money internet gambling, encompassing internet gaming, internet sports betting and social casino gaming branded as 'Simulated Gaming.'
Media Contacts
Beach Point Capital Management
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SOURCE Beach Point Capital Management
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