10 Aug 2017 07:00
LONDON STOCK EXCHANGE (LSE): GAN | IRISH STOCK EXCHANGE (ISE): GAME
GAN Chief Financial Officer Transition
Desmond Glass to Depart in Q4 2017 as CFO role relocates to Las Vegas
London & Dublin | August 10, 2017: GAN plc ("GAN" or the "Company") a leading B2B supplier of Internet gaming enterprise software-as-a-service solutions to the US land-based casino Industry, today announces the Group's Chief Financial Officer ("CFO") role will relocate from London to GAN's US operations in Las Vegas commencing in Q4 2017 following interim H1 2017 results in September.
The CFO role transition better reflects GAN's continued growth in the North American market. This follows the relocation of the CEO's role to Las Vegas in Summer 2015; the relocation of the Chief Information Officer role to Las Vegas in Summer 2016; and the appointment of Las Vegas-resident Mr Seamus McGill as Chairman in April 2017, all of which have proven instrumental in accelerating growth of Simulated Gaming for GAN's thirteen US casino clients coast-to-coast as well as GAN's New Jersey real money Internet casino gaming services delivered to PaddyPower Betfair plc.
GAN's CFO and Company Secretary Desmond Glass has decided not to transition to the United States at this time in order to pursue UK-based opportunities.
Management Commentary
Dermot Smurfit, CEO of GAN commented:
"After a successful multi-year period with GAN, and having been instrumental in preparing the Group for its successful public listing in November 2013, Desmond leaves behind a strong legacy best represented by GAN's growing business in the US and selected regulated Internet gaming markets in Europe. We wish Desmond every success in the future. The relocation of the CFO role from London to Las Vegas aligns with GAN's medium term strategy to seek admission to the US capital markets. Desmond will remain CFO in London until October and I expect that the new US-based CFO will be announced with our interim results on or before September 30, 2017. I look forward to working with Desmond closely in the coming months to prepare for the transition of his responsibilities."
For further information please contact:
GAN Investors: The Equity Group
Dermot Smurfit Adam Prior
Chief Executive Officer aprior@equityny.com
+44 (0) 20 7292 6262 212.371.8660
dsmurfit@GAN.com
Davy (Nominated Adviser, ESM Adviser and Joint Broker)
John Frain / Barry Murphy
+353 1 679 6363
Liberum (Joint Broker)
Neil Patel / Cameron Duncan
+44 (0) 20 3100 2000