UK-based GAN Limited is expected to launch an IPO in May in the American stock market. The IPO would be listed on the NASDAQ index. It is expected to raise up to $34.5 million.
Running an IPO now would be unthinkable for most companies. Stocks are down and most people are not looking to invest.
GAN is different, however. Its core company business is producing software used by online gambling companies. Those companies are seeing record-breaking revenue gains right now. That means they will need more software support. It also shows that more companies will be attracted to the market.
That puts GAN in a great position to attract a lot of interest on Wall Street. Last year, GAN earned around 80% of its business from clients in the U.S., making a launch on a U.S.-based exchange a smart business move.
More states are expected to legalize online gambling in the next few months. That means that even more companies will find themselves dependent on using GAN software. This could cause even more revenue to flow into GAN's coffers.
In other words, investing in GAN right now looks like a pretty safe bet for anyone in the stock market.