Online gaming company GAN Ltd said on Tuesday its shareholders had "overwhelmingly approved" a merger agreement with casino equipment maker Sega Sammy Creation Inc.
Sega Sammy Creation, a subsidiary of Japan's Sega Sammy Holdings Inc., announced in November that it would pay $1.97 per share to acquire GAN, a company that provides business-to-business software services in the United States, and a company that provides business-to-consumer services in Europe and South America.
"More than 95% of the votes voted in favor of the merger agreement and approval of the merger. As of the close of business on January 2, 2024, the record date of the meeting, approximately 51% of GAN's issued common stock attended the meeting," the company said in a press release.
"The merger termination is expected to take place in late 2024 or early 2025 subject to satisfaction or termination waiver of certain conditions, including approval of the merger and changes in GAN control by certain gaming authorities," the company said.
With the completion of the merger, GAN cannot be a publicly traded company.
The acquisition of GAN will help create "significant synergy" with the group's other businesses, especially as the iGaming segment is expected to become legal in more states in the U.S. market, Segasammi Holdings executives said.
In a recent commentary on GGRAsia, the suitor provided some insights into online strategies.
BY: 바카라사이트윈