GAN Surrenders Its UK Software Licence as Sega Sammy Restructures the B2B Arm

GAN (UK) Limited gave up its Gambling Commission software licence on 4 November. Sega Sammy has already shut GAN's old platform and is restructuring the UK office.

• GAN (UK) Limited's remote gambling software licence, number 002604-R-104107-030, is shown as surrendered on 4 November on the Gambling Commission's public register, which dates it from 1 January 2009
• Sega Sammy's June turnaround plan for GAN lists the V1 platform closure as done and a UK office restructure as work in progress, and lists Silverback as closed
• GAN (UK) Limited's revenue fell to £6.1 million in 2025 from £15.9 million, and its net loss widened to £9.4 million, according to accounts filed at Companies House in July
• Sega Sammy reported GAN sales of ¥10.8 billion and an operating loss of ¥2.2 billion for the six months to September, with most of the revenue coming from the Coolbet consumer business
• Stakelogic, the online games supplier Sega Sammy also owns, has three companies with active UK licences, so the surrender does not take the group out of Britain

GAN's British Licensee Leaves the Register

The Gambling Commission's public register entry for GAN (UK) Limited, account number 2604, lists a single licence: a remote gambling software licence, number 002604-R-104107-030, with the status surrendered. The entry runs it from 1 January 2009 to 4 November 2026, gives a Las Vegas head office, and records a surrender, not a suspension or revocation. NEXT.io reported it on 10 November.

A software licence is needed to make, supply, install or adapt gambling software for the British market, and the surrender leaves the company with none. The register shows no entry under the Coolbet or Vincent Group names. The company traded as GAN plc until a May 2020 reorganisation, and in October 2020 the Commission required GAN plc to pay £146,000 over social responsibility and anti-money laundering failings.

The UK Company Has Been Shrinking Since the Takeover

GAN (UK) Limited's accounts for 2025, filed at Companies House on 29 July, show revenue of £6,126,000 against £15,861,000 in 2024. The company blames lower affiliate revenue from transfer pricing on IP royalties and development services. Its net loss widened to £9,416,000 from £3,398,000, which it attributes to declining European operations, mainly in Italy.

The accounts say US customer contracts moved to GAN Nevada on 1 January 2021, and that the UK company still serves European customers and supplies IP and platform services to the group. Activity and staff numbers fell after Sega Sammy Creation bought GAN Limited on 27 May 2025. The parent says it will support the company for at least 12 months and has no plans to dissolve it.

Sega Sammy's Plan Puts the Old Platform and the UK Office in Line

Sega Sammy's June turnaround plan for GAN marks four measures as done: the exit of several legacy executives, a merged B2B sales team, and the closures of Silverback and the V1 platform. The UK office restructure, the move of clients to the V2 platform and a restructure of unprofitable businesses and clients are still in progress. The deck counts 66 GAN roles cut outside the consumer business, with 27 more planned this financial year, and targets a move from adjusted EBITDA of minus $38.3 million in the year to March 2026 to a small profit.

Sega Sammy's second-quarter presentation, dated 6 November, puts GAN sales for the half at ¥10.8 billion, about $68 million, of which B2B was ¥1.1 billion and B2C ¥9.4 billion. GAN made an operating loss of ¥2.2 billion, about $14 million; its figures are booked three months in arrears. Sega Sammy forecasts ¥22.8 billion of GAN sales and a ¥3.2 billion loss for the full year.

The Licence Went With the Old Platform

The surrender looks like the consequence of decisions Sega Sammy had already published, unlike the BresBet and Bet St George surrenders in September, which followed suspensions. The licence sat with the British company that built and ran V1. With V1 shut and the UK office being restructured, it had less to cover. The accounts describe the European business as mainly Italian and name no British customer, so the surrender says more about where GAN's work now happens than about British clients.

B2B Is Now the Smallest Part of GAN

Sega Sammy's own split is the striking figure: ¥1.1 billion of B2B sales in the half against ¥9.4 billion of B2C, the side that runs Coolbet. GAN was bought as a platform supplier, yet the platform business brings in about a tenth of its sales. Coolbet's Tallinn redundancy consultation also cited weak B2B results. The turnaround depends on the V2 migration, which the plan credits with about $29 million of the improvement.

Stakelogic Keeps the Group in Britain

Stakelogic BV, Stakelogic UK Limited and Stakelogic Live Limited remain licensed, so Stakelogic, not GAN, is now the group's licensed route to British operators. Those operators are cutting costs after the rise in remote gaming duty to 40%, which makes Britain a harder market for a supplier rebuilding its platform. The June plan's aim of pairing GAN's technology with Stakelogic's games need not depend on GAN holding a British licence of its own.

The surrender takes GAN's last licence off the British register. Sega Sammy now has to show that a smaller GAN, built around Coolbet and the V2 platform, can make money.