Smurfit’s troubled gambling software firm to up its game with $30m debt deal
Las Vegas-based GAN hopes to pursue $5 million share repurchase and to implement strategic initiatives to halt share price decline
GAN, Dermot Smurfit’s Las Vegas-based gambling software company, has struck a $30 million debt funding deal with Beach Point Capital, the American lender, which will help it return capital to its shareholders and pursue deals.
The company said in an announcement last week that the funds would be “focused on funding existing high-return B2B investments”, meaning buying other businesses, as well as “execution of the previously announced $5 million share repurchase”.
As part of the ...