GAN appoints new CFO as it works toward US listing

GAN, the online gaming software company formerly known as Game Account Network, has appointed a new chief financial officer as it pursues a listing on a US stock exchange “as soon as reasonably practical”.

The Dermot Smurfit led business said Karen Flores has been appointed to the chief financial officer role "effective immediately" and will be based in California.

Her appointment comes at a time when London-listed GAN is seeking a US listing after a year in which the company prepared to launch internet gambling for the largest retail operator in Pennsylvania, Parx Casino, and extended its relationship with FanDuel, the US arm of Flutter Entertainment.

GAN supplies interest gambling software and licences its proprietary software system principally to land-based US casino operators.

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Ms Flores joins the company from US call centre outsourcing company Alorica. She also previously worked with a network, Maker Studios, which sold itself to the Walt Disney Company in 2014. GAN noted that she brings 20 years of financial management experience from both public and private tech companies.

“We are pleased to welcome Karen to our leadership team as we continue working toward obtaining a US listing as soon as reasonably practical,” Mr Smurfit said. “We believe Karen’s experience and skillset will prove invaluable to our financial and strategic planning as our business growth continues to accelerate.”

Company broker Davy said the appointment came at an important time for the business and noted that she “appears to bring a wealth of experience from previous relevant roles, many in companies at the intersect of the technology and entertainment industries”.

“Of particular note, Ms Flores served as senior vice-president of finance at Maker Studios through a period when revenues rose from $2 million to over $200 million.”