GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading business-to-business supplier of internet gambling software-as-a-service solutions primarily to the U.S. land-based casino industry, today announced that the Company has been added to the Russell 2000®, Russell 3000® and Russell Microcap® Indexes, effective after the U.S. markets open on Monday, June 29, 2020, as part of the 2020 Russell U.S. Indexes reconstitution.
Dermot Smurfit, CEO of GAN Limited, stated:
“We are pleased to have earned our inclusion in the Russell Indexes, which will increase GAN’s exposure within the investment community and allow for the opportunity to broaden our shareholder base. We are at an incredibly exciting point in GAN’s history after listing on the Nasdaq just a few weeks ago and look forward to capitalizing on the tremendous opportunity before us as the online gambling market continues to expand across the U.S.”
The annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks at the close of the market on May 8, 2020, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in either the large-cap Russell 1000® Index or the small-cap Russell 2000® Index, as well as the appropriate growth and value style indexes.
The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity market. The index is a subset of the Russell 3000® Index and represents approximately 10 percent of the total market capitalization of that index. The Russell Microcap® Index represents 2,000 small cap and microcap stocks and captures the smallest 1,000 companies in the Russell 2000®, in addition to 1,000 smaller U.S.-based listed stocks.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
About GAN Limited
GAN is a leading business-to-business supplier of internet gambling software-as-a-service solutions predominantly to the U.S. land-based casino industry. GAN has developed a proprietary internet gambling enterprise software system, GameSTACK™, which it licenses to land-based casino operators as a turnkey technology solution for regulated real-money internet gambling, encompassing internet gaming, internet sports gaming and virtual Simulated Gaming.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the anticipated expansion of the online gambling market in the United States and the Company’s ability to capitalize on related opportunities, as well as statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate” and similar statements of a future or forward-looking nature. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update or revise any forward-looking statements for any reason, except as required by law.