Should I buy GAN stock in 2025? UAE Investor’s Analysis

What is a GAN?

How much is the GAN stock?

The price of GAN stock is rising this week. As of the last trading session, GAN stock closed at $1.97, marking a positive change of 0% over the past 24 hours and an 8.24% gain over the previous week.

Following its recent acquisition, GAN delivered significant premium returns—an important consideration for UAE investors interested in dynamic, high-opportunity markets.

Our full analysis on the GAN stock

Having examined GAN Limited's most recent financial data, its performance trajectory over the last three years, and the full spectrum of technical, fundamental, and market analysis—integrated using proprietary models—we believe now is an ideal moment to revisit the GAN narrative. The company’s strategic merger with SEGA SAMMY Holdings in May 2025, coupled with dynamic sectoral tailwinds, has repositioned the story for those seeking compelling entry points into global online gaming technology leadership. So, why might GAN stock once again become a strategic gateway into the innovative digital gaming market as the landscape evolves into 2025 and beyond?

Recent Performance and Market Context

Over the past twelve months, GAN demonstrated notable resilience and outperformance relative to its peers in the competitive gaming technology sector. The share price surged to $1.97 at the end of May 2025, culminating in a remarkable 45.93% annual appreciation. This performance was punctuated by the high-profile announcement—and subsequent closing—of the SEGA SAMMY acquisition, propelling GAN shares to their 52-week high with a cash buyout price reflecting a 121% premium to pre-announcement levels.

Notably, GAN managed to sustain positive price action even amid periods of sector volatility, capitalizing on the sector’s rising demand for regulated real-money gambling, expansion in both global online betting and casino activities, and an accelerated shift to digital platforms due to favorable regulatory changes in major jurisdictions. The company’s increasing presence in Europe and Latin America—markets that are experiencing robust year-on-year growth—has cemented GAN’s reputation as a disruptive force with scalable technology.

Recent macroeconomic signals further reinforce this uptrend. Global gaming and betting markets continue to expand, fueled by technological innovation, digital infrastructure upgrades, and surging demand from Millennials and Gen Z. As regulatory regimes in North America, Europe, and Latin America converge to promote responsible gaming, GAN’s compliance-first platforms are set to capture outsized market share. The SEGA SAMMY transaction validates GAN’s asset value and augurs well for continued upside in the broader space.

Technical Analysis

Prior to the merger close, GAN’s technical setup displayed signals consistent with a company on the brink of a major structural move. The RSI (14-day) of 44.66 indicated a market leaning toward oversold territory—a classic precursor to bullish reversal in anticipation of significant corporate events. The MACD hovered near zero with a reading of -0.02, confirming a neutral to mildly bearish bias, but also suggesting the potential for momentum shifts.

The 50-day simple moving average ($1.76) was eclipsed by the closing merger price ($1.97), indicating strong demand meeting a definitive ceiling at the offer price. More importantly, the 200-day SMA—residing below the final trading price—underlined a multi-month bullish momentum, despite short-term volatility. Historically, crossing the 200-day SMA to the upside is interpreted as a validation of renewed positive sentiment.

Strong technical support at $1.29 (the 52-week low) held firm even during minor pullbacks, setting a robust platform for accumulation. The $1.97 resistance aligned with the acquisition price, confirming that strategic buyers recognized and acted upon GAN’s intrinsic value. For active investors, these signals pointed toward a period of consolidation ahead of a notable re-rating—one that, in this case, crystalized with the merger.

Fundamental Analysis

GAN’s value proposition was anchored in solid fundamentals, which undeniably attracted the significant acquisition premium. Despite short-term revenue softness (Q1 2025 revenue down 4% YoY at $29.4 million), the company executed a clear pivot toward higher-margin and faster-growing B2C operations. B2C segment revenue hit $24.3 million, up from $18.3 million YoY, while active customers rose to 235,000 (+5.9%). B2C contribution margin likewise advanced to a robust 64.9%.

Although the B2B segment experienced a decline (notably attributable to the expiration of a major contract), the take rate improved to 3.5% from 2.0%, revealing GAN’s ability to optimize existing business lines even as the market evolved. Profitability, while still under pressure due to ongoing platform investment and regulatory costs (net loss of $6.8 million in Q1 2025), was mitigated by effective cost controls and a reduction in operating expenses ($23.7 million from $24.6 million YOY).

From a valuation standpoint, GAN traded at an attractive 0.67x price-to-sales and 0.77x enterprise value to revenue—well below sector averages—making it an undervalued outlier amid a crowded field. The enterprise value/EBITDA, while high at 70.46x (on negative EBITDA), was a function of near-term investment and scale-up, well-justified in the context of projected sector expansion and GAN’s position at the center of digital gaming innovation.

Structural strengths included a technologically advanced modular platform (GameSTACK), a widely recognized B2C brand (Coolbet), an impressive geographic footprint, and a proven management team with deep sector expertise. GAN’s ability to integrate regulatory compliance, real-time data analytics, and omni-channel solutions placed it in an enviable position for sustainable long-term growth.

Volume and Liquidity

Trading volumes remained robust throughout the pre-merger period, averaging over 254,000 shares daily—a clear signal of sustained institutional and retail participation. Such liquidity is paramount in supporting dynamic valuations, as it offers both entry and exit flexibility without material price distortion.

A relatively modest free float and well-anchored shareholder base contributed to periodic bouts of high volatility, frequently tipping in favor of upside moves as new information was digested and acted upon. This combination of liquidity and tradable float translated into rapid price discovery, creating an environment where informed positioning could reap significant rewards—as was demonstrated in GAN’s swift ascent following the acquisition announcement.

Catalysts and Positive Outlook

The May 2025 merger with SEGA SAMMY was the defining catalyst—delivering not just immediate value but also catalyzing the next chapter for the underlying technology and brand. The $1.97 per share cash consideration, representing a 121% premium, was both a testament to GAN’s asset quality and a forecast of its value within a larger, synergistic entity.

Looking ahead, several drivers reinforce the sector’s bullish outlook:

• Integration Synergies: SEGA SAMMY’s global resources and distribution will unlock scale economies and fast-track GAN’s next-gen product suite.
• Geographic Expansion: Continued liberalization of gaming regulations across North America, Europe, and Latin America will extend addressable markets.
• Digital Transformation: Surging mobile adoption, data analytics, AI-powered customer segmentation, and the fusion of esports with traditional gaming are all trends GAN’s technology can exploit.
• ESG Initiatives: Regulatory focus on responsible gaming and player protection aligns perfectly with GAN’s compliance-forward architecture, enhancing credibility with regulators and consumers alike.

For investors in the AE context, this transaction is particularly illustrative: it exemplifies how strategic positioning within a high-growth, technology-enabled sector can yield outsized returns, even for smaller-cap international players.

Investment Strategies

GAN’s trajectory offers several instructive lessons for portfolio construction and timing:

• Short-Term: Tactical investors who recognized the technical lows—from support at $1.29—or who anticipated the acquisition catalyst were handsomely rewarded with the rapid move to $1.97.
• Medium-Term: Those tracking the B2C growth narrative, and recognizing the potential for strategic acquisition in a consolidating sector, could have positioned ahead of the merger negotiation phase, benefitting from the re-rating.
• Long-Term: Fundamental believers in GAN’s technology, scalable cloud platform, and exposure to regulated gaming markets would have found that holding through volatility generated optimal value realization, as the company’s strategic worth was ultimately validated by a sector heavyweight.

The ideal entry point, both technically and fundamentally, was established ahead of merger confirmation: at or near multi-quarter support, with improving B2C KPIs and mounting acquisition speculation. This underscores the importance of aligning entry with both cyclical lows and identifiable corporate or macroeconomic catalysts.

Is it the Right Time to Buy GAN?

To summarize, GAN’s conclusive return for shareholders in May 2025—via a high-premium all-cash buyout—reaffirms the underlying sector’s continued resilience and strategic appeal. Key advantages included:

• Accelerating B2C revenue and customer acquisition, particularly in Europe and Latin America.
• A partner-agnostic, cloud-based technology stack designed for scalability and regulatory peace of mind.
• Prudent cash management and cost discipline, ensuring operational runway amid market fluctuations.
• Validation from a global industry leader, with a premium acquisition price reflecting strategic optionality and growth prospects.

The finish line of the GAN story as an independent public company—marked by the SEGA SAMMY transaction—may have closed the chapter on fresh open-market entry. Still, the journey highlights precisely why such companies deserve proactive consideration in a diversified technology portfolio: disruptive business models, sector-wide catalysts, and the possibility for rapid value realization.

As a case study in value creation through strategic positioning, GAN stands out as a model of how robust fundamentals, technical signals, and market catalysts can converge to create standout opportunities in the technology and gaming segments. For investors in the AE region and globally, GAN’s successful trajectory and lucrative exit reinforce the merit of identifying and acting upon secular trends powering the digital entertainment future.

The GAN experience demonstrates how technology-driven gaming firms, poised at the intersection of regulation, innovation, and consumer demand, continue to offer compelling opportunities for those who can spot the inflection point before the market fully prices the upside potential.

How to buy GAN stock in the UAE?

Buying shares of GAN (NASDAQ: GAN) online has become remarkably straightforward and secure for investors based in the UAE. Today, you can purchase GAN stock using a regulated broker, ensuring your transactions are protected by local and international standards. Generally, you have two main choices: spot buying (owning actual shares) or trading via contracts for difference (CFDs), which allows you to speculate on price movements without holding the shares. Each approach offers different advantages—read on for a breakdown of both options, and see how brokers compare further down the page for UAE investors.

Spot buying of GAN shares

When you buy GAN stock in cash, you become a direct shareholder and own the underlying shares, benefiting from any dividends (if applicable) and price rises. In the UAE, most reputable brokers charge a fixed commission per order, often between AED 15 and AED 50, or a small percentage of trade value.

Gain scenario example

Suppose the GAN share price is $1.97 (approximately AED 7.24), and you invest $1,000 (about AED 3,670) including a brokerage fee of about $5 (AED 18). With this amount, you can acquire roughly 507 shares of GAN. Gain scenario: If the GAN share price rises by 10%, your shares are now valued at $1,100 (approx. AED 4,040). Result: +$100 gross gain, representing a 10% increase on your original investment.

Trading GAN via CFDs

CFDs (Contracts for Difference) let you speculate on the price movements of GAN shares without physically owning them. Instead, you enter a contract with your broker to settle the difference at closing. CFD brokers in the UAE typically charge a spread (the difference between buy and sell prices) and an overnight financing fee if you hold positions for more than a day.

CFD trading scenario example

Let’s say you decide to trade GAN CFDs with $1,000 (AED 3,670) and apply 5x leverage. This means you have a market exposure of $5,000 (AED 18,350). Gain scenario: If GAN shares rise by 8%, your CFD position would gain 8% × 5 = 40%. Result: A gross gain of $400 (AED 1,468) on your $1,000 stake (excluding broker fees and financing).

Compare brokers before investing

Before making any investment in GAN, it’s crucial to compare broker fees, platforms, and trading conditions to find the right solution for your goals. Each broker’s pricing and features can make a significant impact on your returns, especially with leveraged instruments like CFDs. Ultimately, whether you choose to buy shares directly or trade via CFDs depends on your investment strategy and risk profile. Explore the detailed broker comparison further down this page to make a confident, well-informed choice.

Our 7 tips for buying GAN stock

The latest news about GAN

GAN Limited completed its merger with SEGA SAMMY Holdings Inc. on May 27, 2025, at $1.97 per share. This deal delivered a 121% premium to GAN’s stockholders relative to the share price immediately before the announcement, culminating in an all-cash payout and the termination of GAN’s public trading status on the NASDAQ. The acquisition closed smoothly, passing all necessary regulatory reviews, including those required for cross-border and gaming sector approvals. For investors in AE, this event finalized the investment horizon for GAN as a standalone stock, enabling immediate liquidity and a significant value realization.

The SEGA SAMMY merger is strategically motivated by a focus on expanding global gaming technology capabilities. This integration will enhance SEGA SAMMY’s portfolio, bringing GAN’s gaming platforms and sports betting technology into a larger, innovation-driven corporate structure. While GAN’s direct presence and business activity in the Middle East, including AE, have historically been limited, this acquisition strengthens the capacity and credibility of SEGA SAMMY—which is active in multiple international gaming markets—to potentially explore more regional partnerships or technology deployments where regulatory environments allow.

GAN’s latest financials disclosed a 4% year-on-year revenue decline but highlighted strong B2C segment growth and improved margins. Despite a reduction in B2B revenues tied to the conclusion of a key multistate commercial contract, the company saw notable growth in its B2C segment: revenues rose to $24.3 million in Q1 2025 versus $18.3 million in the prior year period, and active customer numbers increased to 235,000. B2C contribution margins and sports betting profits improved significantly, signaling that, operationally, GAN succeeded in diversifying revenue streams and strengthening profitability per customer in competitive markets before the acquisition.

B2C operations under the Coolbet brand delivered robust expansion in Europe and Latin America, positioning the business for further global growth under SEGA SAMMY. While AE was not listed among current core revenue geographies, the increasingly international nature of GAN’s B2C business—and the associated online gaming technology platforms—offers an opportunity for future market entry or partnership in the broader MENA region, particularly as regulatory environments evolve. The experience gained in rapidly growing, regulated international markets could become a valuable foundation should SEGA SAMMY target further global or regional expansion.

The merger was executed from a position of financial strength, with cash holdings improving to $39.9 million and working capital showing favorable movement in Q1 2025. Operational efficiencies were evidenced by a reduction in operating expenses and a lower marketing spend ratio, both of which enhanced relative profitability right before merger completion. For professional analysts in AE, the manner in which GAN transitioned—balancing short-term financial headwinds with strategic adaptability—is particularly constructive, as it reflects a resilient management culture and a favorable exit structure, relevant for regional investors interested in cross-border gaming sector opportunities or in tracking SEGA SAMMY’s future regional partnerships and M&A activity.

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P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.