GAN CFO resigns as position moves to Las Vegas
(ShareCast News) - Internet gaming enterprise software-as-a-service supplier to the US land-based casino industry, GAN, announced on Thursday that the group's chief financial officer role would relocate from London to the company's US operations in Las Vegas from the fourth quarter, following interim results in September.
The AIM-traded firm said the CFO role transition better reflected its "continued growth" in the North American market, and it followed the relocation of the CEO role to Las Vegas in summer 2015, the relocation of the chief information officer role in summer 2016, and the appointment of Las Vegas-resident Seamus McGill as chairman in April 2017.
All of those moved had proven "instrumental" in accelerating the growth of the company's 'Simulated Gaming' product for its 13 US casino clients, as well as its New Jersey real money internet casino gaming services delivered to PaddyPower Betfair.
GAN's CFO and company secretary Desmond Glass had decided not to transition to the United States, in order to pursue UK-based opportunities.
"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," said CEO Dermot Smurfit.
"We wish Desmond every success in the future."
Smurfit said the relocation of the CFO role from London to Las Vegas aligned 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
"I look forward to working with Desmond closely in the coming months to prepare for the transition of his responsibilities."