Sega Sammy Receives Preliminary Approval for GAN Acquisition in Nevada
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24 Sep 2024 •
Reading time: 2 minutes Sega Sammy has received preliminary approval from the Nevada Gaming Control Board (NGCB) for its acquisition of GAN Limited. The deal, worth around $107.6 million, was announced in December of last year.
The next step? Final approval from the Nevada Gaming Commission on September 26. The Japanese company hopes to significantly expand its presence in the North American market with this acquisition, primarily by leveraging the technology of GAN, a major player in online gaming.
Sega Sammy’s Big Bet on the Gaming Industry
Sega Sammy is no stranger to the gaming world. Through its division Sega Sammy Creation (SSC), they produce slot machines and other casino games. They also operate the Paradise City resort in Korea. With the acquisition of GAN, they hope to further expand their footprint in the iGaming and sports betting market. Last month, they also acquired Stakelogic, an online game developer, for $143.2 million.
What does all this mean? Sega Sammy is clearly looking to grow even more in the online gambling space.
Sports Betting: Top Priority for Sega in Nevada
During the meeting with the Nevada Gaming Control Board, Sega Sammy Creation CEO Naoki Kameda stressed that sports betting is a big part of their future plans. One major partnership is with Station Casinos and their STN Sports app.
Kameda told the board that they are looking to partner with more land-based casinos to grow their online platforms together. A deal with Fontainebleau Las Vegas is already in the pipeline.
Another point Kameda made is the importance of social gaming. He called this a huge opportunity for Sega Sammy to attract even more customers.
Both land-based and online sports betting are legal in Nevada, but there is a catch: online gambling requires players to register in person. This scares off big players like FanDuel and DraftKings, giving companies like GAN the opportunity to offer their platforms.
Innovation is key at GAN
Kameda praised GAN’s innovative and user-friendly systems and said that Sega Sammy plans to retain GAN’s existing staff after the acquisition. He said the company is excited to work with GAN’s experienced team. All members of the board voted to approve the acquisition without conditions.