Former Scientific Games director Robert Shore has been named vice president of investor relations and capital markets at iGaming technology provider GAN.
Focus on Positioning GAN in the Digital Gaming Space
New York-listed iGaming technology provider GAN has named former Scientific Games director Robert Shore vice president of investor relations and capital markets. Shore will be in charge of GAN’s investor relations and capital markets focusing on strategic engagement with the investor community and analysts in relation to the operator’s positioning in the digital gaming space.
Shore boasts three years of experience at lottery and wagering systems provider Scientific Games, where he served as senior director. In his role as a director, Shore was responsible for communicating the company’s business model and results to the investment community, as well as a bridge between the investment community and the company’s senior management. In 2020, the Institutional Investor Magazine awarded him the recognition of the #1 Investor Relations Professional in the Gaming & Lodging Industry.
During his time in Scientific Games, Shore was engaged in financing transactions worth $4 billion, and an IPO of the company’s social gaming business, SciPlay Corporation. He also has more than a decade of expertise in equity research at Wells Fargo, Union Gaming, and Susquehanna International Group.
Dermot Smurfit, Chief Executive Officer of GAN, said:
“Bobby is a seasoned professional with extensive experience in corporate finance and investor relations, along with a proven track record on Wall Street. We believe his strong gaming experience and deep-rooted relationships within the industry will be extremely valuable as we continue to increase our visibility with institutional investors and propel GAN to the next level.”
Shore shared his excitement to be able to contribute to GAN’s leadership position and operational excellence in the digital segment in a time when digital gaming is gaining momentum.
GAN Reports 17% Revenue Increase in 2020
GAN’s full year total revenue increased by 17% to $35.2 million, or 37% excluding business-to-consumer related revenue that ceased in 2020. However, the key highlight is that the revenue of its U.S. RMiG and Simulated offerings soared by 92% and 77%, respectively.
Throughout the year, GAN inked seven new deals, including a landmark 10-year deal with Wynn Resorts in Michigan and a multi-state deal with Churchill Downs. Additionally, the company invested in the acquisition of Coolbet, raised $167.6 million in capital and added over 150 full-time employees to boost future growth. The operator expects full year 2021 revenue to reach between $100 and $105 million, including first quarter revenue of $24 – $25 million.