GGB is committed to providing updated news and analysis on our weekly news site,

GAN Raises $62.5 Millon with IPO

GAN Raises $62.5 Millon with IPO

Gambling software provider Game Account Network (GAN) reported that it generated a total of $62.4 million from its U.S. initial public offering, nearly double the $34.5 million it predicted.

According to reports, GAN sold 7,337,000 ordinary shares priced at $8.50 per share. This included the underwriters’ option to buy 957,000 ordinary shares, which was taken up in full. The $62.4 million figure was reached before deducting any underwriting discounts and commissions, as well as estimated offering expenses payable by GAN.

In connection with the offering, GAN has reorganized its business setup, with U.K.-based GAN Plc. becoming a wholly-owned subsidiary of GAN Ltd.

Former shareholders of GAN Plc. received one ordinary share of GAN Limited for every four ordinary shares of GAN Plc. and an aggregate of £2 million in cash.

    Recent Feature Articles

  • The Real Source of Success

    Playtech is looking to repeat its European success to become a preeminent supplier for North America’s embryonic iGaming market

  • Skill or Luck?

    States continue to battle unregulated “skill games,” and gaming associations continue to seek their ban, as a few states begin to regulate and tax the slot-like games

  • Changing Boundaries

    Fee-to-trust rule changes and their implications for tribal gaming

  • Everything is Bigger in Texas

    Will the biennial gambling debate finally bear fruit in the Lone Star State?

  • Aristocrat Tops Diverse Field in EKG Slot Awards

    While Aristocrat again took the top award as best overall slot supplier in the fifth EKG Slot Awards, its former dominance of the individual awards yielded to a more diverse field of winners.