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GAN names Flores as new financial chief


Gambling software supplier GAN has appointed Karen Flores as its new chief financial officer with immediate effect.

Based at GAN’s offices in Irvine, California, Flores will be responsible for finance, strategic planning, treasury, tax and accounting.

Flores, who has 20 years’ of experience in financial management, capital markets and operations, will join GAN from Alorica, where she served as vice president of corporate financial planning and analysis.

Prior to this, Flores was senior vice president of finance at Maker Studios Inc., which was sold to The Walt Disney Company for $675m (£519.7m/€607.0m) in 2014. Earlier in her career, Flores also held various financial positions at MySpace Music, Napster, and Microsoft.

The appointment comes just eight months after GAN named Rey del Valle as its new chief financial in May 2019. Del Valle was brought in to replace Richard Santiago, who opted to leave the industry.

“We are pleased to welcome Karen to our leadership team as we continue working toward obtaining a US listing as soon as reasonably practical,” GAN chief executive Dermot Smurfit said.

“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.”

Last week, GAN also reported a 171.3% year-on-year increase in gross operator revenue to $315.6m in 2019, partly due to the growth of legal gambling in the US.

The supplier also saw a 70.5% rise in active player days, defined as the number of unique active gamblers who gambled at least once online each day, aggregated over the period, to 24.5m. GAN’s average revenue per active player-day also rose by 58.9% to $12.88.