GAN names new Chief Financial Officer

GAN names new Chief Financial Officer

GAN has announced the appointment of Karen Flores as new Chief Financial Officer (CFO) of the company.

US.- Karen Flores has become the new Chief Financial Officer (CFO) of GAN. The gambling software supplier said that Flores will be in charge of finance, strategic planning and accounting at its offices in Irvine, California.

Flores will also be responsible for treasury and taxes for GAN. She previously served as vice president of corporate financial planning and analyst at Alorica, and has over 20 years of financial management, capital markets and operational experience in public and private technology companies.

Dermot Smurfit, CEO of GAN, said: “We are pleased to welcome Karen to our leadership team as we continue working toward obtaining a US listing as soon as reasonably practical. With two decades of financial management and operational experience at entertainment and technology companies, Karen has managed the finance function of companies with substantial revenues and gained highly relevant corporate transactional experience.

“We believe Karen’s experience and skillset will prove invaluable to our financial and strategic planning as our business growth continues to accelerate. The entire leadership team at GAN looks forward to working closely with Karen who will be a critical part in helping us achieve both short and long-term goals.”

GAN revenue sees major 171% jump

GAN saw gross operator revenue increase to 171.3% year-on-year. The company posted US$315.6 million in 2019, thanks to the major gambling expansion and a Q4 key performance.

For the fourth quarter of 2019, GAN saw its operator revenue increase by 189.1% to US$120.8 million. Its active player days rose 94.8% to 9 million while ARPDAU increased 48.4% to $13.43. All three figures were by far the highest of any quarter in 2019.

The growth in gross operator revenues and the number of active players was mainly due to the popularity of sports betting in the US and the cross-selling of sports betting customers to casino games, said. The supplier powers the account services for FanDuel’s mobile sportsbook offering in New Jersey, Pennsylvania and Indiana.

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