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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Gameaccount Network    GAN   GB00BGCC6189

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Gameaccount Network : CORRECTING and REPLACING GAN Chief Financial Officer Transition

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08/10/2017 | 04:19pm CEST

Desmond Glass to Depart in Q4 2017 as CFO role relocates to Las Vegas

Please replace the release dated August 10, 2017 with the following corrected version due to multiple revisions.

The corrected release reads:

GAN CHIEF FINANCIAL OFFICER TRANSITION

Desmond Glass to Depart in Q4 2017 as CFO role relocates to Las Vegas

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.”


© Business Wire 2017
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Financials ( GBP)
Sales 2017 9,90 M
EBIT 2017 -3,30 M
Net income 2017 -
Debt 2017 0,50 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018
EV / Sales 2017 1,39x
EV / Sales 2018 1,27x
Capitalization 13,3 M
Chart GAMEACCOUNT NETWORK
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Gameaccount Network Technical Analysis Chart | GAN | GB00BGCC6189 | 4-Traders
Technical analysis trends GAMEACCOUNT NETWORK
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 1
Average target price -
Spread / Average Target -100%
EPS Revisions
Managers
NameTitle
Dermot Stopford Smurfit Chief Executive Officer & Executive Director
Seamus M. McGill Non-Executive Chairman
Simon Knock Chief Operating Officer
Desmond Glass CFO, Executive Director & Secretary
Michael William Joseph Smurfit Non-Executive Director
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