Dermot Smurfit

GAN Plc raises £450,000 through David Capital Partners Chicago

Dermot Smurfit
Dermot Smurfit

London AIM-listed GAN Plc (formerly GameAccount Network) has welcomed Chicago financial advisory David Capital Partners as new investors raising £450,000 for its business.

GAN governance declared that the firm had conducted a new share placement of 1.5 million ‘ordinary shares’ issued at a price of 30p. The completed purchase will see David Capital hold 2.2% of total share capital of the enlarged GAN Plc

The Company stated that the investment was needed in order to continue to fund its US expansion projects for ‘real-money’ and ‘simulated’ games, particularly in light of recent regulatory developments in Pennsylvania

Dermot Smurfit, CEO of GAN commented on the development:

“This placing brings GAN the support of Chicago-based David Capital Partners and actively raises awareness of GAN’s investment case among the US technology investment community whom we believe are natural investors for our business.”

“We have a strong and unique product offering, a growing client base and sufficient capital for our current and expected business needs. The directors of GAN do not anticipate any further capital requirements at this time.”

Check Also

Svenska Spel strengthens igaming management with Petra Blixt appointment

Former-LeoVegas chief marketing officer Petra Blixt has been appointed as the new head of sales and marketing …

Tabcorp names David Gallop as non-executive director

Australian  ASX-listed gambling group Tabcorp Holdings has confirmed the appointment of former-National Rugby League  (NRL) Chief …

Nederlandse Loterij

Scientific Games adds sports betting to Dutch Lottery deal

Scientific Games will deliver the Dutch Lottery’s players with a full sports betting solution across …