Latest news for Sega Sammy Holdings (OTC:SGAMF) Stock

Sega Sammy Holdings was established as a holding company in 2004, when video game developer Sega and pachislot and pachinko vendor Sammy merged. The company currently derives majority of its sales revenue from entertainment content and its pachislot and pachinko machine business, which contributed 68% and 24% of total revenue in fiscal 2023, respectively.

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GAN Limited (NASDAQ: GAN) shares are trading higher after the company agreed to be acquired by Sega Sammy Creation Inc. 

Why Online Gaming Platform GAN Shares Are Skyrocketing Today

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Stocks That Hit 52-Week Highs On Friday

SEGA SAMMY HLDGS INC ORD by Sega Sammy Holdings, Inc.

Sega Sammy Holdings Inc

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Sega Sammy Holdings (JP:6460) has released an update. SEGA SAMMY HOLDINGS INC., at a Board of Directors meeting, decided not to acquire any treasur...

Sega Sammy Holds Back on Treasury Stock Acquisition

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Sega Sammy Holdings

GAN Limited&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GAN#NASDAQ">GAN</a>) shares are trading higher after the company agreed to be acquired by Sega Sammy Creation Inc.&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/11/b35664224/gan-announces-definitive-agreement-to-be-acquired-by-sega-sammy-creation" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">for $1.97 per share.</a>

The value represents a premium of 121% over the closing price of GAN&#39;s ordinary shares on November 7, 2023, the<a class="editor-rtfLink" href="https://www.benzinga.com/calendars/m-a" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">&nbsp;last trading day before the date of this announcement.</a>

Sega Sammy Creation is a subsidiary of&nbsp;Sega Sammy Holdings, Inc.(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/sgamf#OTC" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">SGAMF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SGAMY#OTC">SGAMY</a>), an international conglomerate operating in the entertainment, gaming, and resort businesses.

GAN said it will ask its shareholders to consider and vote to approve the merger agreement at a special meeting of shareholders to be held by March 31, 2024.

Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/gaming/23/11/35600654/i-want-sonic-to-surpass-mario-says-sega-executive" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">&#39;I Want Sonic To Surpass Mario,&quot; Says SEGA Executive</a>

&quot;Market share concentration in the U.S. B2C space, a slower than expected adoption of regulated online gaming in the U.S., along with changes to key customer contracts make the near-term operating environment challenging without ample capital resources,&quot; said Seamus McGill, Chairman and Interim Chief Executive Officer of GAN.&nbsp;

Sega Sammy has those resources, and GAN is a strategic complement to their existing gaming portfolio, according to the Interim CEO.&nbsp;

GAN expects the merger to close during the&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/calendars/earnings" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">fourth quarter of 2024.</a>

Upon completion of the merger, GAN will become a&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/topic/acquisitions" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">wholly-owned subsidiary of SSC.</a>

&quot;We believe this all-cash offer, at a substantial premium to recent trading prices, is the value-maximizing path for our shareholders,&quot; McGill added.

Price Action:&nbsp;GAN shares are trading higher by 96.2% to $1.75 premarket on the last check Wednesday.

<ul>
	<li>Microsoft Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and&nbsp;Sega Sammy Holdings Inc&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SGAMF#OTC">SGAMF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SGAMY#OTC">SGAMY</a>) <a href="https://www.segasammy.co.jp/english/pr/release/sshd/sshdNewsList.do">agreed to explore</a> a partnership to develop big-budget titles using the Xbox maker&#39;s cloud gaming tech.</li>
	<li>&quot;By working with Microsoft to anticipate such trends as they accelerate further in future, the goal is to optimize development processes and continue to bring high-quality experiences to players using Azure cloud technologies,&quot; Sega said.</li>
	<li>Sega is exploring making titles with global reach on Microsoft&#39;s Azure cloud platform.</li>
	<li>Microsoft&#39;s own major cloud gaming initiative is available via the Xbox Game Pass, a cross-platform subscription service that features Sega titles like the hit &quot;Yakuza&quot; series,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/technology/sega-microsoft-explore-cloud-gaming-alliance-2021-11-01/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Reuters reports</a>.</li>
	<li>Cloud gaming cuts ties to bulky hardware but requires a fast internet connection.&nbsp;</li>
	<li>Deep-pocketed Microsoft&#39;s push into the nascent sector comes as Xbox being on the backfoot in the console battle with&nbsp;Sony Group Corp&#39;s&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) PlayStation.</li>
	<li>Sega, which dropped its own console business after a string of flops, is a rich maker of &quot;pachinko&quot; machines for gambling and has flagged its ambitions to widen the appeal of its video games.</li>
	<li>Price Action:&nbsp;MSFT shares traded higher by 0.36% at $332.83 in the premarket session on the last check Monday.</li>

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