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GAN Reports Third Quarter 2024 Financial Results
GAN Limited reported its unaudited financial results for the third quarter ended September 30, 2024.
Seamus McGill, GAN’s Chief Executive Officer, said: “I couldn’t be more pleased with the progress our team members have made to deliver revenue growth while concurrently lowering our cost structure. Our top-line growth of 24% compared to the prior year was driven by B2B revenue growth of more than 60% while operating costs fell by nearly 10%. We remain focused on delivering a leading product offering for our US B2B clients and our international B2C business.”
Mr. McGill added: “In September, we recently received approval from the Nevada Gaming Commission for our planned merger with SEGASAMMY. We continue to work through the remaining regulatory requirements and anticipate a successful closing in early 2025.”
Third Quarter 2024 Compared to Third Quarter 2023
• Total revenue of $37.1 million increased 24% driven by an increase in the B2B segment.
• B2B segment revenue was $16.4 million versus $10.2 million. The increase was primarily due to an expansion of our B2B offerings in the state of Nevada and the recognition of revenue related to a partner exit in Michigan.
• B2C segment revenue was $20.7 million versus $19.6 million. Growth in Europe was driven by increased player activity, which was offset by reduced player activity and unfavorable exchange rates in Latin America.
• Operating expenses were $25.1 million versus $27.8 million. The decrease was primarily attributable to the Company’s overall reduction of compensation costs and reduced headcount realized as part of ongoing cost saving initiatives, as well as lower depreciation and amortization expenses as a result of intangible assets fully amortizing in the prior year.
• Net income of $2.1 million versus a net loss of $8.2 million improved primarily due to increased revenues and decreased operating expenses.
• Total segment contribution was $27.2 million versus $20.6 million, which was driven primarily by increased revenue in the B2B segment.
• Adjusted EBITDA was $5.4 million versus a loss of $2.5 million. The increase was driven by increased revenues and lower operating expenses resulting from the aforementioned factors.
• Cash was $36.5 million as of September 30, 2024, versus $36.9 million as of June 30, 2024.
• B2C Active Customers declined primarily driven by limited customer acquisition in Latin America.
• B2B Gross Operator Revenue totaled $610.4 million versus $424.1 million in the prior year quarter, a 44% increase. The increase was driven primarily by organic growth in Pennsylvania, New Jersey, Ontario, and Connecticut.
The post GAN Reports Third Quarter 2024 Financial Results appeared first on European Gaming Industry News.
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ACR POKER’S BLAZING HIGH FIVE TOURNAMENT SERIES RETURNS WITH $4 MILLION GUARANTEED THIS APRIL
New ‘Highest Five’ nosebleed events with buy-ins ranging from $5,200 to $25,500 mark the biggest stakes ever seen on ACR Poker
ACR Poker’s most lit week is back with the return of The High Five Tournament Series from April 19th to 23rd, bringing $4 Million GTD across 50 events. Each day brings a full slate of action, with 10 smoking tourneys firing daily including five high-stakes events featuring buy-ins of $44 and over and five low-stakes events with buy-ins of $33 and under.
And this year, the stakes are even higher with the new ‘Highest Five’ tourneys added on top. For the first time, ACR Poker is rolling out elite nosebleed tourneys designed for the game’s boldest players. Two nosebleed events will take place each day of the High Five Tournament Series with buy-ins from $5,200 to $25,500, marking the biggest stakes ever seen on ACR.
The High Five Tournament Series Main Event will take place on Monday, April 20th, featuring a $420 buy-in and a $200,000 GTD prize pool. The schedule also includes a special rebuy and add-on day on Monday, April 20th and a PLO day on Wednesday, April 22nd.
And the action doesn’t stop there. Players can blaze up the standings in the High Five Leaderboard Competition, where more than $25,000 in prizes are up for grabs, including $2,650 Venom seats, tourney tickets and The Golden Bong trophies. Simply by playing in High Five events, players will earn points towards either the High Leaderboard (buy-ins of $44 and over) or the Low Leaderboard (buy-ins of $33 or under).
The stakes are high and so are the names stepping in. ACR Pro Chris Moneymaker is locked in to play every Highest Five event, and so is CEO Phil Nagy. “The High Five Tournament Series has a fun vibe to it and I’m excited to be jumping into the new Highest Five tourneys,” said ACR Pro Chris Moneymaker. “But what’s great about this series is that players of all bankrolls can get in on the action from small-stakes grinders to high-rollers. We’ll see you at the tables.”
For more information, visit ACRPoker.eu.
The post ACR POKER’S BLAZING HIGH FIVE TOURNAMENT SERIES RETURNS WITH $4 MILLION GUARANTEED THIS APRIL appeared first on Americas iGaming & Sports Betting News.
ACR Poker will run The High Five Tournament Series from April 19 to 23, 2026, with $4 million guaranteed across 50 tournaments, according to the operator.
The schedule lists 10 events per day, split between five higher buy-in tournaments ($44 and over) and five lower buy-in tournaments ($33 and under).
The operator is also adding new ‘Highest Five’ events—two per day—positioned as “nosebleed” tournaments with buy-ins ranging from $5,200 to $25,500. ACR Poker said these are the biggest stakes it has offered on the platform.
The series Main Event runs Monday, April 20, with a $420 buy-in and a $200,000 guaranteed prize pool. ACR Poker also flagged a rebuy and add-on day on April 20 and a dedicated PLO day on Wednesday, April 22.
A leaderboard promotion will award more than $25,000 in prizes, including $2,650 Venom seats, tournament tickets and “The Golden Bong” trophies. Points accrue via High Five events and are split into a High Leaderboard ($44 and over) and Low Leaderboard ($33 or under).
ACR Poker said ACR Pro Chris Moneymaker and CEO Phil Nagy plan to play every Highest Five event. “The High Five Tournament Series has a fun vibe to it and I’m excited to be jumping into the new Highest Five tourneys,” said ACR Pro Chris Moneymaker. “But what’s great about this series is that players of all bankrolls can get in on the action from small-stakes grinders to high-rollers. We’ll see you at the tables.”
The post ACR Poker brings back High Five Series with $4m guaranteed in April Subheadline appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Creedroomz has launched Road to El Dorado, a new live casino game show it calls its largest production to date. The title is built around a wheel-of-fortune mechanic and four bonus rounds, with a studio set designed around an Aztec theme.
The main wheel has 54 segments, with base numbers 1, 2, 5 and 10, plus four bonus spots. Creedroomz said each segment has its own payout multiplier, and that after bets close a random number or bonus segment may receive an added multiplier of up to x50.
Creedroomz said the game includes four bonus rounds: Marble Race, a physical marble race in-studio with payouts up to 6,250×; Boom Blast, a 3D bonus where players choose one of three cannons with multipliers up to x100 on low risk and up to x500 on high risk; Dice Fight, shown on an LED screen with random multipliers up to 10,000x and rerolls on ties; and Eldorado, a multi-level pick-and-reveal bonus where multipliers combine across four levels, with a fifth “Zenith” level unlocked by finding hidden diamonds.
“With Road to El Dorado, we didn’t just want to build a wheel; we wanted to build a world,” says Arturs Fjodorovs, CPO at Creedroomz. “By combining physical studio elements with RNG-driven 3D visuals, we’ve created a multi-layered experience that offers something for every type of player. It is a true spectacle for operators and a goldmine for engagement.”
Creedroomz: https://creedroomz.com/ Official company site for product and portfolio context.
Malta Gaming Authority (MGA): https://www.mga.org.mt/ Relevant regulator for verifying licensing and game supply credentials if applicable.
UK Gambling Commission (UKGC); https://www.gamblingcommission.gov.uk/ Relevant regulator for checking market access and licensing where applicable.
The post Creedroomz launches Road to El Dorado live casino game show appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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