IRVINE, Calif. - GAN Limited (NASDAQ:GAN), a prominent North American B2B provider of internet gaming solutions and international B2C sports betting operator, announced the appointment of Mr. Brian Chang as its new Chief Financial Officer. Chang, who has been serving as interim CFO since November 2022, will now permanently occupy the role.
The company's chairman, David Goldberg, and CEO, Seamus McGill, expressed their confidence in Chang's financial expertise and leadership skills, which they believe will be instrumental in the successful completion of GAN's merger with Sega Sammy Creation, Inc.
Chang has been with GAN since September 2021, initially as Senior Vice President and Corporate Controller, and has a history of financial roles, including Vice President of Accounting and Reporting at Alorica, Inc., and an audit manager at Deloitte.
Chang's experience is expected to be valuable as GAN progresses toward the merger with Sega Sammy, a move that aligns with the company's growth strategy. His background includes significant financial reporting and process optimization, as well as overseeing integrations, divestitures, and restructuring efforts. Chang holds a Bachelor of Arts in Economics from the University of California, Irvine, and a Masters of Accounting from the University of Southern California.
GAN's proprietary technology, GameSTACK™, serves the U.S. land-based casino industry, while its B2C operations have established a presence in European and Latin American markets.
The information for this article is based on a press release statement.
InvestingPro Insights
As GAN Limited (NASDAQ:GAN) welcomes Brian Chang as its new Chief Financial Officer, the financial landscape of the company shows some compelling data points and market considerations. According to InvestingPro, GAN boasts an impressive gross profit margin of 70.1% for the last twelve months as of Q4 2023. This robust margin underscores the company's ability to manage costs effectively relative to its revenue, a key factor as Chang steps into his new role amidst the company's strategic initiatives.
InvestingPro Data also reveals a market capitalization of approximately 59.09M USD, reflecting the current valuation of GAN in the market. Despite the challenges the company faces, such as analysts not anticipating profitability this year and a negative revenue growth of -8.56% over the last twelve months, GAN's stock price movements have been quite volatile. This volatility could present opportunities for investors who are attuned to market fluctuations and possess a sound understanding of GAN's financial dynamics.
InvestingPro Tips indicate that while GAN does not pay a dividend to shareholders, the company operates with a moderate level of debt and its liquid assets exceed short-term obligations. These factors suggest a level of financial stability that could be reassuring to investors considering the company's position in a rapidly evolving industry.
For those seeking further insights, more InvestingPro Tips are available, providing a deeper analysis of GAN's financial health and market performance. Interested readers can enrich their investment strategy with these additional tips by visiting https://www.investing.com/pro/GAN. Additionally, users can take advantage of an exclusive offer using the coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription.
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