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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.
Psiclone Games and Playtech-built title features three Free Spins modifiers, including expanding reels, sliding wilds and jackpots up to 500x bet.
PokerStars Casino has released Skullapalooza as the fifth game in its 2026 The Slotlist series, making the title the featured slot on the operator’s Casino tab for the month.
Skullapalooza is developed by Psiclone Games and Playtech. The game’s core hook is a Free Spins system built around three “Skull” features that can be triggered individually or in combination: expanding reels, jackpot accumulators and stacked sliding wilds.
According to the company, players can land different coloured gems to randomly trigger one or more Free Spins variants. Pink gems may trigger Free Games with Expanding Reels, blue gems may add Sliding Wilds, and purple gems may activate pots with a grand prize of up to 500x total bet. The company said all three variants can be active at once.
“The Slotlist is designed to spotlight games that deliver a well-rounded player experience, combining innovative features, striking visuals, and immersive gameplay”, said Ed Fogarty, Associate Director of PokerStars Casino Commercial. “Skullapalooza embodies all these qualities, and we’re thrilled to feature it prominently in The Slotlist this month.”
Skullapalooza joins earlier 2026 Slotlist picks including Baozang Empire of Plenty, Magnificent Power Leprechaun, and 12 Burning Baseballs.
The post PokerStars Casino adds Skullapalooza as fifth 2026 Slotlist pick appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Governor Hobbs signs SB 1671; new budget sets $4M spend authority plus $500K a year from event wagering funds.
The Arizona Department of Gaming has secured a six-year continuation after Governor Hobbs signed Senate Bill 1671, following the 2026 legislative session that adjourned June 12, 2026. The continuation also covers the Arizona State Boxing and Mixed Martial Arts Commission and the Arizona Racing Commission.
The Department said SB 1671 affirms its authority to regulate tribal gaming, event wagering and fantasy sports, horse racing and simulcast wagering, and boxing and mixed martial arts.
In parallel, the Department said Senate Bill 1847 and the state’s Fiscal Year 2027 budget expand expenditure authority for its Division of Problem Gambling. The budget authorizes $4,000,000 in total spending for the Division, which the agency said is a 20% increase from FY26.
The Department also said the legislature granted an annual $500,000 expenditure authority to use Event Wagering funds to support problem gambling, and that the Division will have grant oversight authority for the first time.
“Arizona first established the Department of Gaming in 1995 – and more than thirty years later, we remain excited about world-class regulation benefiting the entire state,” said Jackie Johnson, Department Director. “I’m grateful to Governor Hobbs and leaders in the state legislature, particularly continuation bill sponsor State Senator Shawnna Bolick, who thoroughly reviewed our agency with a deep commitment to public service, and I am pleased that the Department secured its continuation, which will allow us to strengthen our focus points in robust consumer protection and integrity.”
“The new state budget will strengthen longstanding investments in problem gambling assistance made possible through partnerships with Arizona’s Tribal Nations and the Arizona Lottery,” said Elise Mikkelsen. “We continue to see strong demand from individuals and families seeking information, resources, and treatment for gambling-related harm. This increased funding will help us expand the continuum of care and ensure more Arizonans have access to effective, inclusive, and timely support.”
The post Arizona extends Gaming Department for six years; problem gambling budget rises 20% appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Ed Fogarty Associate Director of PokerStars Casino Commercial
Time to Fiesta with PokerStars Casino’s Latest The Slotlist Pick ‘Skullapalooza’ from Psiclone Games and Playtech
PokerStars Casino has unveiled the fifth game release in its 2026 The Slotlist series, Skullapalooza, a vibrant, high-energy slot game which brings a Mexican fiesta to life, combining bold visuals with layered mechanics.
Developed by Psiclone Games and Playtech, Skullapalooza offers classic slot action combined with a dynamic Free Spins system built around three distinct Skull features, allowing players to trigger and combine expanding reels, Jackpot accumulators, and stacked sliding wilds for enhanced gameplay depth and variety.
Players land different coloured gems on reels to randomly trigger one or more of the Free Spins Skulls. Pink gems might trigger Free Games with Expanding Reels; Blue gems might come with Sliding Wilds; and Purple gems might activate pots with a grand prize of up to 500x total bet. All three variants can be active at once for the ultimate Free Games experience.
The Slotlist curates a single headline slot game on the PokerStars Casino tab each month, hand-picked for its creativity, visual appeal, and engaging gameplay. PokerStars Casino continues to offer the broadest and most exciting selection of new slot releases every month.
“The Slotlist is designed to spotlight games that deliver a well-rounded player experience, combining innovative features, striking visuals, and immersive gameplay”, said Ed Fogarty, Associate Director of PokerStars Casino Commercial. “Skullapalooza embodies all these qualities, and we’re thrilled to feature it prominently in The Slotlist this month.”
Skullapalooza is now available to play on PokerStars Casino, joining titles such as Baozang Empire of Plenty, Magnificent Power Leprechaun, and 12 Burning Baseballs as part of The Slotlist’s standout picks for 2026.
For more information about PokerStars Casino The Slotlist visit the website.
The post Time to Fiesta with PokerStars Casino’s Latest The Slotlist Pick ‘Skullapalooza’ from Psiclone Games and Playtech appeared first on Americas iGaming & Sports Betting News.
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