..

Gambling Software Provider GAN Ups Share Offering by 57% Ahead of $48 Mil US IPO

Written by:
Press Release
Published on:
May/01/2020

AN Limited, a UK-based provider of internet gambling software, raised the proposed deal size for its upcoming IPO on Friday.


*6 weeks free trial - test drive - best in the biz
*Deposit with Bitcoin - They'll double it!
*Get your own domain, customized website, logo
*Switch in under an hour, earn mrore $$ for doing so
*Odds featured on DonBest.com
*Thousands of betting options daily + live in-play
*Easy and discreet payment options include gift cards
*Walmart gift cards also accepted
Start Earning Money From Your Sheet Here

The London, United Kingdom-based company now plans to raise $48 million by offering 6.4 million shares at a price range of $6.50 to $8.50. The company had previously filed to offer 4.1 million shares at the same range. At the midpoint, GAN Limited will raise 57% more in proceeds than previously anticipated to command a fully diluted market value of $224 million.

Formerly GameAccount Network, GAN provides enterprise SaaS solutions for online casino gaming and sports betting applications, namely its GameSTACK internet gaming platform. Its software is used in the UK (15% of 2019 revenue), Italy (15%), and the US (70%), where it is focusing its efforts. As of December 31, 2019, the company's customers operated 53 (101 including recent customer acquisitions) retail casino properties, racetracks, and online sportsbooks, and its largest customers include fantasy sports provider FanDuel (46% of 2019 revenue) and Winstar Casino (20%). DraftKings (DKNG), another fantasy sports provider and FanDuel rival, went public via acquisition by Diamond Eagle Acquisition, and the combined company traded up 10% on its first day trading.

GAN Limited was founded in 2002 and booked $30 million in revenue for the 12 months ended December 31, 2019. It plans to list on the Nasdaq under the symbol GAN. B. Riley FBR is the sole bookrunner on the deal. It is expected to price during the week of May 4, 2020.

Gambling News

Daily Fantasy Sports Player Loses Out on Million Dollars Due to Stat Change

Daily Fantasy Sports Player Loses Out on Million Dollars Due to Stat Change

A Daily Fantasy Sports player lost out on a million dollar prize due to a negated Chicago Bears sack.

Positive Influence of Gambling on the Human Psyche

Positive Influence of Gambling on the Human Psyche

Gambling itself is not always portrayed in a positive light. Some of the most often referred articles are the ones that condemn online casinos and gambling. According to other articles, including the scientific ones, prove just the opposite. Gambling can bring a player dozens of positive emotions, including excitement, engagement, and joy. Most individuals are unaware of numerous health effects gambling can bring to the life of any individual. Let us take a closer look at the positive influences of online casinos on one’s psyche, as follows.

The Betting Battleground: Circa Set to Open in Downtown Vegas

The Betting Battleground: Circa Set to Open in Downtown Vegas

On Wednesday, Circa, Stevens' new resort in downtown Las Vegas, opens with what's being billed as the "world's largest sportsbook."

Can't Bet the Illini From Illinois

Can't Bet the Illini From Illinois

Licensed Illinois sports betting apps do not permit wagering on in-state college teams.  You can get around this by signing up with a sportsbook licensed outside the state but still accessible within Illinois. 

Newest Downtown Vegas Casino Set to Open, Pandemic or Not

Newest Downtown Vegas Casino Set to Open, Pandemic or Not

If the 1,000-seat sports betting auditorium at the Circa Resort & Casino doesn’t get you, maybe the six rooftop swimming pools will.

Syndicate