The gaming industry is on the verge of a significant shift as Seamus McGill assumes the permanent role of Chief Executive Officer (CEO) at GAN, following the resignation of the long-serving CEO, Dermot Smurfit. GAN, a leading online gambling solutions provider listed on Nasdaq, appointed McGill in this crucial period of transition last September. This timely move positions GAN strategically as it prepares for its substantial acquisition by Sega Sammy Holdings, valued at $107.6 million.
With McGill’s appointment, he will continue his duties as a member of GAN’s board of directors, directing his attention to ensuring the smooth advancement of the Sega Sammy buyout. David Goldberg, Chairman of GAN, expressed unwavering support for McGill’s assignment to the CEO position. “Seamus has the full backing of the board of directors and we are confident that his experience and leadership make him the most qualified candidate to be GAN’s next CEO,” Goldberg stated.
Not a newcomer to the industry or GAN, McGill has an extensive background in the gaming sector. He joined the company as a non-executive chairman in January 2014, bringing with him a wealth of experience from various prominent roles, including president of mobile solutions provider Joingo, Chief Operating Officer of Aristocrat Technologies, as well as positions with Cyberview Technology and WMS Gaming. His in-depth knowledge of GAN’s products, customers, and strategic direction has been built over years of dedicated service. The board’s endorsement of McGill as CEO is a testament to his proven track record within the company.
Upon accepting the CEO position, McGill expressed his gratitude and reinforced GAN’s commitment to the Sega Sammy transaction. “It’s an honour to be named GAN’s CEO and I’d like to thank David and the board for their vote of confidence. Going forward, our focus remains unchanged. We remain committed to a timely closing of our transaction with Sega Sammy to maximise value for all of our stakeholders,” McGill affirmed.
GAN, headquartered in California, thrived under Dermot Smurfit’s leadership for over 21 years. Smurfit’s departure was made public in late September, and the announcement of the Sega Sammy agreement followed in early November. Sega Sammy, based in Japan, has committed to this acquisition with the vision of expanding its gaming business and portfolio, which includes running an integrated resort via Paradise City in Japan and its subsidiary Sega Sammy Creation (SSC), a supplier of gaming equipment and content.
The US igaming market is central to Sega Sammy’s expansion plans and has been identified as providing “promising” growth opportunities. GAN’s shareholders have already given their overwhelming approval for the transaction earlier this week. After the acquisition, GAN will assimilate with SSC’s new special purpose company but will emerge as the surviving corporation.
This significant change comes after GAN began a strategic review in the first quarter of the previous year, seeking avenues to enhance shareholder value. The completion of the acquisition is subject to regulatory approvals and other customary closing conditions. However, if it proceeds as planned, the merge is poised to set a new pace for GAN’s journey, pooling together the robust technological capabilities and strategic positions of both GAN and Sega Sammy in the bustling arena of igaming solutions.
