Sega Sammy said it expects to complete its acquisition of GAN on 27 May 2025, after the remaining conditions are expected to be met on 22 May. The company said the transaction will affect its 2025 financial report, but it has not yet estimated the impact.
Completion would make GAN a Sega Sammy subsidiary and affect the buyer’s 2025 financial reporting.
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Sega Sammy recorded an approximately JPY18 billion impairment against goodwill from its Stakelogic acquisition for the fiscal year ended 31 March 2026. The company attributed the write-down primarily to a contraction in the Netherlands market following regulatory tightening and also booked JPY0.7 billion for a planned reduction in Stakelogic’s Dutch operations.
Stakelogic said it will close its live casino studios in Eindhoven to reduce costs, according to the report. The supplier will use its Malta studio instead, stop offering Dutch-language live tables and move branded tables to a shared Chromakey setup. Its Eindhoven office will remain open for other activities.
An investment analysis platform argued that Sega Sammy should focus on monetising its intellectual property and halt large-scale acquisitions after what it described as weak acquisition performance and lower operating margins. The analysis cited a JPY31.3bn impairment relating to Rovio and said a further JPY15bn impairment was expected for Stakelogic; Sega Sammy said it would suspend large-scale M&A for the time being.
Sega Sammy said it will pause large-scale M&A after recording a JPY16.9 billion loss attributable to parent-company owners for the nine months to 31 December 2025. It attributed the result mainly to a JPY31.4 billion exceptional loss linked to Rovio’s underperformance; its Gaming segment also reported a loss after including GAN and Stakelogic.
Sega Sammy reported net profit of JPY2.75 billion for the six months to September, down 91% year on year. The company attributed the decline to weaker game sales, underperformance at Rovio, pachislot approval delays and costs from consolidating Stakelogic and GAN, while keeping its full-year forecast unchanged.