GAN surrenders UK licence as restructuring continues

GAN has formally surrendered its B2B licence issued by the UK Gambling Commission (UKGC). According to the UKGC register, Gambling Software, Remote, a UK subsidiary, returned the licence on 4 November. The licence had been granted in 2009.

The surrender came two days before Sega Sammy published its latest financial results. According to the figures announced, GAN's sales were JPY 10.8 billion (EUR 52 million) and its operating loss was JPY 2.2 billion (EUR 12.4 million). The UK operation has shrunk in recent years. According to Companies House filings, UK revenue fell 61 percent between 2024 and 2025 to GBP 6.13 million (EUR 7.33 million), while the pre-tax loss rose to nearly GBP 10 million (EUR 11.96 million).

The cuts are not limited to the UK. In June, Sega Sammy removed 66 positions from its international team. A further 27 position reductions are planned for the fiscal year ending in March 2027. The group expects to save about $9.7 million a year.

GAN's B2C brand Coolbet is also under pressure. According to a recent report by NEXT.io, at least 131 positions at its headquarters in Tallinn, Estonia are at risk. Cited reasons include business challenges, weaker than expected B2B results and tax pressure in some markets. The company wants to simplify its operations and focus on the markets and products it considers more commercially viable.