GAN Limited Ordinary Shares - GAN STOCK NEWS

GAN Limited (NASDAQ: GAN) has launched its services for Michigan's internet gambling market today, coinciding with the launch of major clients: Churchill Downs, Wynn Resorts, and FanDuel Group. The Michigan Gaming Control Board approved nine B2C operators, with expected gross revenue of $439 million in 2021. GAN now supports these clients through its platform, enhancing its industry footprint. The CEO emphasized the significance of this launch, highlighting the company's engineering advancements that enable simultaneous client launches. GAN is poised for further expansion with increasing regulatory approvals.

GAN Limited (NASDAQ: GAN), a prominent internet gaming software provider, will participate in the 23rd Annual Needham Virtual Growth Conference on January 15, 2021. Senior management will engage in one-on-one and group meetings with investors attending the event. Prior to the conference, all support materials, including an investor presentation, will be available on the Company’s investor relations website. GAN specializes in providing turnkey software solutions for real-money internet gambling, including its proprietary GameSTACK™ platform.

GAN Limited (NASDAQ: GAN) has signed its first Letter of Intent (LOI) with a current client for its new ‘Coolbet’ sportsbook engine, aimed at launching an internet-only mobile sports betting experience in Virginia, pending regulatory approvals. Jeff Berman emphasized the growing interest in the Coolbet platform since its acquisition in November, stating that integration is underway for operational deployment. GAN's proprietary system, GameSTACK™, supports various internet gambling solutions, reinforcing its position in the U.S. gaming market.

GAN Limited (NASDAQ: GAN) has completed its acquisition of Coolbet for €149.1 million ($175.9 million) in cash and stock. The integration of Coolbet's sports betting technology into GAN’s offerings has already begun, with a planned U.S. market launch by Q3 2021. Jan Svendsen will lead Coolbet's operations while advising on U.S. trading services. The acquisition is expected to be immediately accretive, enhancing GAN's position in the iGaming space and creating significant revenue synergies between the two companies.

GAN Limited (NASDAQ: GAN) announced the closing of its upsized public offering of 7,174,456 ordinary shares at $15.50 per share. The offering includes 6,790,956 shares sold by GAN and 383,500 shares from selling shareholders. B. Riley Securities acted as the sole book-running manager. This offering follows the effective registration statement filed with the SEC on December 16, 2020. GAN, a supplier of internet gaming software solutions for U.S. land-based casinos, aims to enhance its growth potential through this capital raise.

GAN Limited (NASDAQ: GAN) announced an upsized public offering of 6,238,658 shares at $15.50 per share, aiming for gross proceeds of $90.8 million, potentially $105.3 million if overallotments occur. With 5,855,158 shares sold by GAN and 383,500 by other shareholders, the offering closes on December 21, 2020. Proceeds will primarily fund the purchase of Vincent Group p.l.c. (Coolbet) and cover general corporate expenses. B. Riley Securities acted as the book-running manager.

GAN Limited (NASDAQ: GAN) announced a follow-on public offering of 5,200,000 ordinary shares, with 4,816,500 shares sold by GAN and 383,500 by selling shareholders. The company plans to grant the underwriter a 30-day option for an additional 780,000 shares. Proceeds will fund the cash portion for the acquisition of Vincent Group p.l.c. (Coolbet) and may also support working capital, sales, marketing, and product development. B. Riley Securities is the sole book-running manager for the offering. The registration statement has been filed with the SEC but is not yet effective.

GAN Limited (NASDAQ: GAN) reported a strong Q3 2020 with revenue of $10.3 million, an 86% increase from $5.5 million in Q3 2019. Real money Internet gaming revenue reached $7.7 million, up from $4.1 million. However, the net loss attributable to equity holders widened to $4.1 million, or $0.14 per share, compared to a loss of $1.8 million in the prior year. The company announced the pending acquisition of Coolbet for €149.1 million, aiming to enhance its online sports betting and iGaming capabilities. GAN expects revenue for the full year to be between $37 and $39 million.

GAN Limited (NASDAQ: GAN) has signed a definitive purchase agreement to acquire Vincent Group p.l.c. (Coolbet) for approximately €149 million. The acquisition is expected to close in Q1 2021, subject to regulatory approvals. Coolbet, an award-winning iGaming operator, reported €26 million in revenue with a 46% CAGR from 2018 to 2020. The transaction aims to enhance GAN's sportsbook offerings and leverage Coolbet’s technology in the U.S. market. GAN will gain over 175 employees and 84,000 active customers, aiming for significant revenue synergies and immediate accretion.