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GAN appoints new CFO as it prepares for US expansion


London-listed GAN has announced the appointment of a new chief financial officer as the software supplier prepares for an imminent launch in a second, possibly third US state.

From mid-July, Rey del Valle will take over the top finance job from Richard Santiago, who is leaving the industry.

Del Valle has extensive experience in senior finance positions in the US, with roles at OpenX, DTI Management, AXS Ticketing and Ticketmaster on his CV.

He has also previously worked in the gaming industry, having been vice president of strategy and planning for, an ecommerce platform that was sold to Churchill Downs back in 2010.

Del Valle said: “This is an extraordinary opportunity to join Dermot [Smurfit, GAN CEO] and his leadership team to help develop their unique software-as-a-service tech company with a hard-earned market leading position in the fast-regulating US internet gambling market. I look forward to transitioning into the role in the coming weeks.”

Smurfit said that the hire would help the company “maintain full momentum on executing GAN’s growth strategy”.

A big part of that growth strategy is focused on the US, with the company already serving clients in New Jersey and preparing for a July launch in Pennsylvania.

The company has also signalled an intention to launch in Indiana, where sports betting legislation was signed into law last week.

Smurfit said GAN expects to serve at least one land-based casino in Indiana this year and that it was well positioned for the further expected state launches in the US.

“With 10 states now having passed sports wagering laws in the US, we remain increasingly confident that more states will legalise as the regulatory cycle for sports gambling in the US continues to gain momentum.

“GAN has been preparing for sports gambling legalization since Q4 2017 and is ready to service casinos and sportsbooks as states’ legislation moves forward,” said Smurfit.