In comments to GGRAsia, a management spokesperson said interest in Japan’s Sega Sammy Holdings “continues” to carve out its overseas online gaming services sector after the “withdrawal of the Yokohama IR project”.
In 2021, the group said it was willing to spend about 120 billion yen (currently $845.3 million) on the cost of an integrated resort (IR) with Japan’s Yokohama Casino as part of a proposed consortium that includes Genting Singapore Ltd. In the fall of 2021, Yokohama was officially out of the race to host IR.
In November last year, Sega Sammy Holdings said in a statement it would pay about $107.6 million to acquire GAN Ltd, which provides company-to-business software services in the U.S., and a company that provides company-to-consumer online gaming services in Europe and South America. The transaction is expected to be completed by the third quarter of the fiscal year ending in March 2025.
A spokesperson for Sega Sammy Holdings told GGRAsia: “Sega Sammy continues to explore business opportunities in its overseas online gaming business after withdrawing its Yokohama IR project.”
The official added: “Especially in terms of compliance, we have our eyes on the huge North American gaming market, which is well controlled by strict regulations.”
The iGaming market has been “particularly promising” within the U.S. and “has potential for expansion going forward,” the source added.
“If we can enter the U.S. iGaming market prior to widespread legalization, we will provide a promising opportunity to grow our presence in the segment,” added Sega Sammy, a spokesperson for Holdings.
“As [U.S.] states legalize online gaming, we expect existing operators to expand and new operators to enter the online gaming market. We believe GAN’s turnkey technology solutions are very competitive in enabling these operators to quickly enter the online gaming market.”
Sega Sammy Holdings noted that GAN is a “integrated” provider of Kulvet-branded online gaming platforms and Bulgaria’s online casino gaming development studio, Silverback Gaming, in Europe and Latin America.
The Japanese group has already flagged potential for synergies between GAN’s portfolio of services and products and its own casino equipment and gaming content unit, Sega Sami Creation Inc., the latter with a particular focus on North American land casino operators right now. Sega Sami Creation will be a group company that acquires GAN through a special purpose company.
“We believe that the combination of [Segasammi Creation’s] customer base and content development capabilities with GAN’s market-leading technology can help [us] realize synergies. This includes [massive] customer growth and enhanced content delivery,” a parent spokesperson told GGRAsia.
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