Chang appointed as permanent CFO of GAN

GAN, a notable player in the gaming industry, has officially confirmed that Michael Chang, who stepped into the CFO role on an interim basis in November 2022, will now fill the position permanently. This decision comes after Karen Flores vacated the role late last year. Chang, before adopting the interim CFO responsibilities, contributed significantly to GAN as the senior vice president and corporate controller. Since his initial integration into the company in September 2021, Chang has demonstrated exemplary dedication and skill in navigating the financial landscape of GAN, paving the way for his current full-time appointment.

Michael Chang’s Journey at GAN

• September 2021: Joins GAN as Senior Vice-President and Corporate Controller
• November 2022: Assumes the role of Interim CFO following Karen Flores’ departure
• 2023: Officially appointed as the full-time CFO of GAN

This strategic move is anticipated to bolster GAN’s financial strategies and foster growth within the competitive gaming sector. Chang’s expertise and prior experience within the company are expected to guide GAN through its next phase of development and expansion.

Brian Chang’s Previous Experience

GAN, a renowned global online gaming software provider, recently announced the addition of a seasoned finance professional to their team. The new hire, who previously held significant positions within the finance sector, is poised to bring a wealth of experience and knowledge to GAN.

Prior to joining the GAN team, the individual significantly impacted Alorica, a diversified services provider, by serving in several high-ranking financial roles. Furthermore, their career includes a notable period at Edwards Lifesciences, a leading medical device company, where they contributed to financial strategies and operations. Deloitte, a global professional services network, also benefited from nearly seven years of expertise in financial consulting and advisory roles.

This addition to the GAN team signifies the company’s ongoing commitment to excellence and innovation in the online gaming industry. By leveraging the extensive experience of their new senior finance professional, GAN is set to continue its trajectory of growth and success in the global market.

Professional Milestones:

• Alorica – Held multiple high-ranking financial positions
• Edwards Lifesciences – Contributed to financial strategies
• Deloitte – Nearly seven years of financial consulting and advisory

Congratulatory Message and Senior Management Changes at GAN

In a significant move for the corporation, GAN has officially announced Brian Chang’s role as Chief Financial Officer (CFO). This permanent position comes as a testament to Chang’s immense financial expertise and the strong backing from the company’s board of directors. GAN’s Chairman, David Goldberg, couldn’t hide his enthusiasm as he praised Chang’s appointment, signaling a positive direction for the company’s financial strategies.

GAN hasn’t stopped there in refreshing its leadership team. The company also solidified its senior management by naming Seamus McGill as the permanent Chief Executive Officer (CEO). McGill’s elevation is part of a broader strategy to ensure GAN remains at the forefront of its industry, ready to tackle future challenges.

Recent Leadership Enhancements at GAN

These latest appointments underscore GAN’s commitment to enhancing its leadership framework, ensuring the company is well-positioned to navigate the evolving market dynamics and drive growth. With a bolstered executive team, GAN continues to demonstrate its dedication to excellence in service and innovation.

Sega Sammy Acquisition and Chang’s Role as CFO

Sega Sammy is set to fortify its position in the entertainment sector through the strategic acquisition of GAN, spearheaded by the expertise of CFO Chang. The proposed merger, which garnered unanimous support from GAN’s shareholders in February, promises to redefine the landscape of the industry. GAN, under Chang’s financial stewardship, is anticipated to seamlessly integrate with Sega Sammy Creation, paving the way for a new special purpose entity aimed at innovation and growth.

The synergy between GAN and Sega Sammy Creation is expected to unlock new avenues in gaming and entertainment, leveraging the strengths of both entities. The formation of this special purpose company signals a monumental stride towards harnessing combined expertise and resources, setting a precedent in the market.

Key Highlights of the Impending Acquisition

• Unanimous approval by GAN shareholders in February;
• Chang’s critical role as CFO in navigating the acquisition process;
• Merger expected to foster a new era of innovation and growth;
• Formation of a special purpose company to combine the strengths of GAN and Sega Sammy Creation.

This acquisition marks a significant milestone for Sega Sammy as it seeks to bolster its portfolio and impact in the global entertainment industry. With Chang at the helm of the financial aspects, the merger is poised for success, promising to launch a formidable player in the market.

Financial Update and Results for GAN

In a recent financial disclosure, GAN has highlighted a dip in its revenue over the course of the full year 2023, while also acknowledging a reduction in its net loss. This mixed outcome underscores the complex financial landscape facing the company amidst evolving market dynamics.

The detailed financial results reveal a distinct revenue contribution from both its Business-to-Consumer (B2C) and Business-to-Business (B2B) sectors. Despite the overall decline, these insights provide a nuanced understanding of GAN’s operational strengths and areas for potential growth.

Furthermore, the report offers an analysis of the company’s net loss and its adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). These metrics are critical for stakeholders to gauge the financial health and operational efficiency of GAN.

In conclusion, the fiscal year 2023 has been a period of recalibration for GAN, navigating through revenue challenges while making strides in minimizing its net loss. The detailed breakdown of its financial performance serves as a testament to the company’s resilience and adaptability in a competitive landscape.