| Share Name |
Share Symbol |
Market |
Type |
Share ISIN |
Share Description |
| Gan Plc |
LSE:GAN |
London |
Ordinary Share |
GB00BGCC6189 |
ORD 1P |
| |
Price Change |
% Change |
Share Price |
Shares Traded |
Last Trade |
| |
0.00 |
0.0% |
225.00 |
0.00 |
01:00:00 |
| Bid Price |
Offer Price |
High Price |
Low Price |
Open Price |
|
|
|
|
|
|
| Industry Sector |
Turnover (m) |
Profit (m) |
EPS - Basic |
PE Ratio |
Market Cap (m) |
|
Travel & Leisure
|
10.57
|
-6.69
|
-7.67
|
|
191
|
| Last Trade Time |
Trade Type |
Trade Size |
Trade Price |
Currency |
| - |
O |
0 |
225.00 |
GBX |
| Trade Time |
Trade Price |
Trade Size |
Trade Value |
Trade Type |
No Trades
| Date | Subject |
|---|
28/8/2020
08:54 | rivaldo: Excellent news - great to see Churchill Downs confirmed. Should be a nice bump in the share price now that any nervousness over completion has been removed - and possibly some analyst upgrades on the way too?
"GAN Limited (the “Company”; or “GAN”) (NASDAQ: GAN), a leading business-to-business supplier of internet gambling software-as-a-service solutions to the U.S. land-based casino industry, today announced a multi-year agreement with Churchill Downs Incorporated (“Churchill221;) (NASDAQ: CHDN) to be the enterprise software platform for Churchill’s Internet sports betting and Internet casino gaming business, BetAmerica.
This new client relationship will position BetAmerica to participate in Internet sports betting markets where permitted by leveraging GAN’s U.S.-optimized enterprise software. BetAmerica currently manages sportsbooks in New Jersey, Pennsylvania, Indiana, Mississippi and Arkansas.
Due to the expansive range of Churchill’s retail gambling assets in the U.S., combined with its existing market access agreements for Internet gambling, GAN classifies Churchill as a “tier one” operator client.
Together with a market-leading range of Internet casino games developed by and/or aggregated from third parties, GAN will publish third-party sports betting content procured from Kambi, a global leader in sports betting content that is currently integrated into GAN’s platform and made available to clients.
Dermot S. Smurfit, Chief Executive Officer of GAN, commented:
“We look forward to powering the BetAmerica brand with our highly optimized technology platform and enabling CDI to efficiently invest their marketing capital to attract loyal sports betting and iGaming players.”
Bill Carstanjen, Chief Executive Officer of Churchill Downs Incorporated, commented:
“We believe the transition to GAN and Kambi as our new technology providers will enable our team to execute the rollout of BetAmerica sportsbooks and iGaming product offering more efficiently as states move to legalize and implement regulations permitting sports betting and iGaming in the coming years. BetAmerica will benefit from the proven excellence of these market-leading providers.”
|
22/6/2020
20:49 | festario: The California gaming bill has been pulled, no chance of sports betting in Calif for the next 2 years at least.This news has hurt the GAN share price in late trading, and will annihilate WEB tomorrow.Which is a shame, because I bought back in there last week.
|
20/5/2020
12:47 | mylands: Dow futures nicely up 1.25% at the moment, though they don't seem to reflect in the GAN share price when the market opens. Maybe today will be different?
|
30/4/2020
10:49 | farukequity: Three questions to ask right now:
1. Is GAN share price too high right now given the expected IPO offering price range ceiling of $8.50?
2. Therefore, should anyone buying right now at 235p expect to lose money on Day 1 of trading on NASDAQ next week?
3. Will GAN be valued higher than today come end May and afterwards?
My view is No, No and Yes.
Why? IPO offering price does not determine opening price on Day 1.
Assuming IPO offering price is not adjusted and fixed at current upper end $8.50, share price would have to open 30%+ above IPO offering to much current valuation.
This is easily possible (look up IPO day 1 trading for various companies, SNAP is one example) and very likely in the case of GAN in my opinion.
Here is good explanation of how the IPO pricing works in the US:
hxxxs://finance.zacks.com/offering-price-vs-opening-price-ipo-2670.html
Re 3, ask yourself this - Has GAN got a potential to reach Unicorn valuation..?
|
25/4/2020
11:28 | mylands: busterdog
Taken from the RNS on the 9th April, this explains it clearly. The US price will be based on the UK share price:
As noted in the Scheme of Arrangement, there will be an exchange of 1 share in the current UK-listed GAN plc for every 0.25 share of the new NASDAQ-listed company, as well as a payment of 2.32p. Another way of looking at the same calculation is that 4 shares of GAN plc will be exchanged for 1 share of GAN Limited plus 9.28 GBp in cash (4 x 2.32 GBp).
Example: If the transaction had completed on April 7, 2020, the closing market price on April 7, 2020, would have been used for calculating the U.S. shares. Accordingly, GBP1.49 per share in GAN plc would have converted at the prevailing foreign exchange rate of USD 1.23 per GBP 1.00 and the calculation would be as follows:
4 shares in GAN plc x GBP1.49 = GBP5.96 x $1.24 = $7.33. You would have received 1 share in GAN Limited valued at $7.33 tradeable on NASDAQ on April 8, 2020, together with GBP0.0928 (9.28p) in cash.
*Please note, these illustrative conversion numbers will be subject to change, as GAN plc's share price continues to fluctuate in normal trading throughout April.
By my calculation at close of business yesterday, the share price was at a mid price of 1.67p and the exchange rate was 1.2365$/£, that would have given us one new share on NASDAQ worth $8.26.
|
09/4/2020
10:21 | igoe104: RNS Number : 2923J
GAN PLC
09 April 2020
LONDON STOCK EXCHANGE (LSE): GAN
What Shareholders Need to Know…
An FAQ about GAN's Scheme of Arrangement and Anticipated NASDAQ Listing
London | April 9, 2020: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gambling software, services and online gaming content in the United States, today provided an FAQ on the Company's previously announced Scheme of Arrangement in connection with its anticipated NASDAQ listing.
1) Why is GAN doing this?
We believe that the move to trading in the United States will benefit our operations and our shareholders.
GAN raised £15m in 2013 to pursue growth opportunities in the United States, when Internet gaming was first regulated in a handful of States. Since then, GAN has seen meaningful increase in the addressable U.S. market opportunity as a result of Internet sports betting starting in 2018, following a favourable judgment by the U.S. Supreme Court. Last year, in 2019, more than 80% of our total revenue originated in the U.S. with the balance from Europe. Today we have a growing number of U.S. shareholders, including both small and large and institutional investors as the core business of GAN becomes overwhelmingly U.S. facing, as originally intended. We expect a U.S. listing to generate market information and public relations opportunities that will enhance our reputation and create operational opportunities in the United States.
We believe that a NASDAQ listing will create a number of favourable results for GAN shareholders, including, but not limited to: ease of share purchasing on a U.S. exchange for U.S. investors; increased liquidity (number and value of shares bought/sold every day); increased access to cheaper capital (should we even need more capital, in the future); additional research coverage by U.S. banks (whereas we only have two research analysts covering our shares in the UK); and enhanced reporting standards (quarterly reporting versus semi-annual).
2) Will GAN maintain a dual listing in the U.S. and the UK?
No. We intend that GAN will be listed exclusively on the NASDAQ within short order, targeting before the end of April 2020. The Company believes this is most favourable for our current position. We expect NASDAQ to afford greater liquidity based on its history as a leading global market for technology and software companies, which would better support GAN's potential equity appreciation. Furthermore, a single listing reduces regulatory complexity and cost, which would be greater if GAN remains listed on both the UK and U.S. markets.
3) I am a current shareholder of the Company's shares listed in London on the AIM market. What will I have to do now?
Nothing. Any shares you hold (either in your own name or through a custodian or nominee in CREST) will be automatically translated into the same value of shares in GAN Limited on the relevant date (currently anticipated to be towards the end of April 2020), subject to the UK Scheme of Arrangement becoming effective on completion of the U.S. fundraising and Nasdaq listing. Once it is in a position to do so, the Company will make an announcement confirming the date your stockbroker (or other custodian) will be automatically holding U.S. Dollar-denominated shares in GAN Limited freely tradeable on NASDAQ by your stockbroker. For certificated holders, the U.S. Transfer Agent will contact you with a notification confirming the number of GAN Limited shares held on your behalf.
Should you receive any dividends from GAN Limited or (in due course) elect to sell your GAN Limited shares listed on NASDAQ, you may need to complete a form for the U.S. tax authority, called a W-8BEN form, which is easy to complete and widely available.
4) Will I receive new U.S. shares and how will the conversion work?
Yes. If the Scheme of Arrangement becomes effective, GAN's shareholders will receive shares in GAN Limited, the new Bermuda parent company of GAN's overall group.
As noted in the Scheme of Arrangement, there will be an exchange of 1 share in the current UK-listed GAN plc for every 0.25 share of the new NASDAQ-listed company, as well as a payment of 2.32p. Another way of looking at the same calculation is that 4 shares of GAN plc will be exchanged for 1 share of GAN Limited plus 9.28 GBp in cash (4 x 2.32 GBp).
Example: If the transaction had completed on April 7, 2020, the closing market price on April 7, 2020, would have been used for calculating the U.S. shares. Accordingly, £1.49 per share in GAN plc would have converted at the prevailing foreign exchange rate of USD 1.23 per GBP 1.00 and the calculation would be as follows:
4 shares in GAN plc x £1.49 = £5.96 x $1.24 = $7.33. You would have received 1 share in GAN Limited valued at $7.33 tradeable on NASDAQ on April 8, 2020, together with £0.0928 (9.28p) in cash.
*Please note, these illustrative conversion numbers will be subject to change, as GAN plc's share price continues to fluctuate in normal trading throughout April.
5) What is a Scheme of Arrangement?
A Scheme of Arrangement is a UK legal process, sanctioned by GAN's shareholders and the UK Court, used to effect the reorganisation of GAN which will facilitate GAN's listing from the UK to the U.S.
If the Scheme of Arrangement becomes effective, GAN Limited, a Bermuda incorporated company, will become the new parent company of the group and the existing parent company, GAN plc, will become a wholly owned subsidiary of GAN Limited.
6) Is the Company raising money, and if so, why?
Yes. As part of the NASDAQ listing there will be a capital raise targeting a minimum of $35M (approximately £28M). GAN prides itself on operating as a lean, efficient company with no debt and ended 2019 with $10M+ in cash. The capital raise is intended to establish a broader investor base to enhance trading liquidity. The additional capital will also further enhance GAN's capital resources, enabling the Company to scale and rapidly capitalize on growth opportunities.
7) Was there a Shareholder vote on the NASDAQ listing?
Yes. Shareholders voted at the General Meeting on March 31, 2020, to pass the special resolution to (among other things) implement the Scheme, amend the articles of association of GAN plc and cancel admission of the Company's shares to AIM once listed on NASDAQ, to ensure there is no single trading day when the GAN's shares cannot be bought or sold on an investment exchange (either the London Stock Exchange or the NASDAQ). More than 99% of votes cast at the Court Meeting (each of which were cast by proxy) were in favour of the Scheme.
8) What is the timing of the U.S. listing?
The Company expects to list on the NASDAQ within 30 days of the shareholder meeting completed on March 31, 2020. Directionally, this overall process should be completed before the end of April 2020, subject to market conditions.
9) Where will GAN trade?
GAN will trade on The NASDAQ Capital Market.
10) What will the ticker symbol be?
The Company's NASDAQ ticker symbol will be "GAN."
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12/2/2020
20:04 | doctor s: How do US GMMNF price changes translate to the GAN share price when London opens tomorrow? Do GMMNF and GAN track each other?
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07/1/2020
08:14 | mip55: Agree that it was entirely unrealistic to suggest that two pounds would be the new floor for the GAN share price yesterday based on the KPIs. Probably good if we consolidate here or abouts before the Trading Update gives us the push we need to break that barrier.
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02/1/2020
12:42 | rivaldo: Watching the GAN share price go up definitely beats working for a living :o))
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23/12/2019
17:18 | sahara5: Actually the GAN share price rise happened before the DraftKings announcement. You can see the Kambi share price fell way after the GAN rise today.
You will also find no clients where SBTech and GAN work together. SBTech's only US client seems to be BetAmerica.
I would say the read across to GAN from this news is pretty limited.
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Gan share price data is direct from the London Stock Exchange
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