Beach Point Capital Management Announces Private Credit Investment in Leading Gaming Technology Provider GAN Limited
LOS ANGELES, April 28, 2022 /PRNewswire/ -- Beach Point Capital Management LP, a private credit focused investment manager, today announced a $30 million private credit investment in GAN Limited (NASDAQ: GAN), a leading full-service internet gaming software-as-a-service provider.
GAN operates a North American B2B technology offering for real money internet gaming solutions and an International B2C operation for internet casino and sports betting. Beach Point's investment will help GAN develop proprietary gaming content, facilitate new B2B contracts and expand into new markets.
"GAN is at the forefront of online gaming and sports betting technology and we're excited to support their expansion," said Brian Himot, Portfolio Manager at Beach Point. "Innovative firms like GAN will continue pushing the limits of gaming technology and we are committed to being a part of that."
"This transaction enhances our ability to invest in market leading technology and create shareholder value," said Dermot Smurfit, Chief Executive Officer of GAN. "The Beach Point team has a deep knowledge of our industries and we are pleased to work with them on furthering our mission for years to come."
About Beach Point Capital Management
Beach Point Capital Management is a Los Angeles based investment manager specializing in credit-related investments. The firm employs a flexible, value-oriented and risk-controlled approach and focuses on complex and less followed opportunities. As of March 31, 2022, Beach Point manages $16.7 billion in AUM on behalf of sophisticated global institutional investors and has over 140 employees across offices in Los Angeles, New York, London and Dublin.
About GAN Limited
GAN is a leading business-to-business supplier of internet gambling software-as-a-service solutions predominantly to the U.S. land-based casino industry and is a market-leading operator of proprietary online sports betting technology with market leadership positions in selected European and Latin American markets. GAN has developed a proprietary internet gambling enterprise software system, GameSTACK™, which it licenses to land-based U.S. casino operators as a turnkey technology solution for regulated real money internet gambling, encompassing internet gaming, internet sports betting and social casino gaming branded as 'Simulated Gaming.'
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Beach Point Capital Management
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