Sega Sammy Holdings is reorganizing its structure, transferring its common shares in South Korean joint venture Paradise SegaSammy to its gaming manufacturing subsidiary Sega Sammy Creation.
According to a Friday release, the company is transferring its 45 percent stake in the South Korean casino operator as part of changes to ‘manage the strategy, financial risks etc, of the Gaming Business’.
The transfer was agreed upon in a Board of Directors meeting on Friday and is expected to be completed by June 1st.
The group notes that its strategy to further develop its Gaming Business was announced last May, as the group aims to build a customer base by developing and providing gaming machines and content to Sega Sammy Creation (SSC), while ‘accumulating know-how in casino operations that also can be used for online gaming’. This was through its joint venture to operate Paradise City.
The organization now places all gaming aspects directly under SSC, including iGaming supplier GAN Limited and iGaming platform Stakelogic.
In a separate release, the group noted that is pushing back the expected closing schedule for GAN Limited to the first quarter of the company’s fiscal year ending March 2026. The deal was first announced in November of 2023 and approved by GAN shareholders in February of 2024 – being valued at $107.6 million.
The Stakelogic acquisition is also expected to be finalized in the first quarter of 2026. It’s been valued at about $141 million.
The group notes that both acquisitions are aimed at ‘entering the online gaming market, particularly the US iGaming market, which is expected to expand in the future’.
Under the new system, the company indicates it will have ‘centralized management of gaming licenses and other controls, and for collaboration among the gaming business locations scattered around the world’.
