GAN - GAN Limited rallies after Michigan deal positive B. Riley update

GAN Limited (GAN) trades higher after adding a fourth casino client in Michigan via a new deal with the Saginaw Chippewa Indian Tribe of Michigan. The company expects to nab a "fair share" of the Michigan market through the Soaring Eagle Casino & Resort deal. GAN also received some positive attention today from B. Riley, which transferred coverage to analyst David Bain. Bain notes that GAN is leveraged to iGaming and online sports wagering total addressable market increases. He also values the recent Ainsworth deal at $2 to $6 per share. B. Riley has a Buy rating on GAN and price target of $26. Shares of GAN are up 2.58% premarket to $15.90. GAN trades below its 10-day, 50-day, 100-day and 200-day moving averages.

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GAN Limited rallies after Michigan deal, positive B. Riley update