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GAN Reports Third Quarter 2024 Financial Results

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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.

Alessandra Rosati Country Manager (Italy) at Booming Games

Booming Games adds 100 slot titles to Casino di Venezia online platform

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Deal expands Booming Games’ Italy footprint and boosts Casino di Venezia’s digital catalogue with titles including Cash Pig 2 15,000.

Booming Games has signed a partnership with Casino di Venezia to distribute its casino content on the Italian operator’s digital platform.

Under the agreement, Casino di Venezia has integrated 100 Booming Games titles. The initial rollout includes Cash Pig 2 15,000, 64 Gold Coins Hold and Win 20,000 and Buffalo Hold and Win Extreme.

Booming Games positioned the deal as part of its strategy to grow in regulated markets and increase reach in Italy. The supplier also said it plans to accelerate releases this year, including localised content tailored to specific markets.

Alessandra Rosati, Country Manager (Italy) at Booming Games, said: “We are pleased to be partnering with Casino di Venezia, a brand with unrivalled pedigree and an outstanding reputation for delivering premium gaming content. The collaboration marks the latest chapter in our pursuit to broaden the reach of our premium titles in Italy, a market that presents a number of exciting growth opportunities. We’re confident that this is the beginning of a successful, long-term relationship with Casino di Venezia and look forward to working with the team.”

The post Booming Games adds 100 slot titles to Casino di Venezia online platform appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Fincore integrates TRI Platform with Sportradar’s VAIX Personalization AI

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Fincore and Sportradar have announced an integration connecting Fincore’s TRI Platform with Sportradar’s VAIX Personalization AI, with the companies positioning it as a way for operators to act on AI-driven insights in real time within existing stacks.

Under the deal, VAIX’s recommender models and player insight predictions are delivered into Fincore’s TRI ecosystem, which the company says can plug into existing PAM, gaming and bonus systems. The companies said the setup is intended to avoid “wholesale replacement” while meeting audit and access-control requirements in regulated markets.

Sportradar said VAIX monitors player behaviour in real time and can trigger recommendations and rewards during live play across sports. The company also said that within days of a player’s first activity, VAIX generates forecasts including lifetime value, churn risk, deposit likelihood and bonus recommendations.

Mateja Popovic, CEO at Fincore, said: “The technology landscape in gaming is evolving and operators are increasingly seeking to embed best-of-breed innovation directly into their core operations.

“Our partnership allows Sportradar customers to act on powerful AI-driven insights instantly, closing the gap between prediction and execution. By enabling personalised and automated recommendations and rewards without disrupting existing platforms, we are helping operators unlock greater engagement and more efficient promotional strategies that help them stand out.”

Andreas Hartmann, VP Personalisation at Sportradar, said: “Our AI platform gives operators a decisive edge in player engagement and retention, delivering highly accurate predictions on player activity, lifetime value, churn risk, deposit behaviour and more per user, in real-time.

“With Fincore’s TRI platform supporting real-time and deep personalisation, integration was a natural fit, allowing us to turn our industry-leading AI models into measurable commercial impact for the operator, across the user journey.”

The post Fincore integrates TRI Platform with Sportradar’s VAIX Personalization AI appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Beyond the Burn: How Systemic Responsibility Drives Long-Term ROI

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In a data-driven era, short-term player extraction is a losing game. Lars Kollind, Business Development Director at VeliTech, discusses the shift from anonymous poker rooms to real-time ecosystems, revealing why the most profitable operators are those who prioritise sustainable player lifecycles over “dark patterns”

 

Lars, you’ve seen the industry evolve from the early poker days to the current platform-led era. What is the biggest difference in how we view ‘the player’ now compared to 20 years ago?

Twenty years ago, the player was largely anonymous and the experience was relatively contained. You logged in, played and the risk was limited to that moment. Today, the player exists in a fully connected, real-time environment where every interaction is tracked, optimised and personalised. The experience is faster, more immersive and much more data-driven.

We’ve moved from simple player activity to managing a full player lifecycle, but that shift changes our responsibility. We’re no longer just offering games, we’re shaping behaviour over time.

In the past, responsible gambling felt like a legal disclaimer at the bottom of a website. Why is that “compliance-first” mindset dangerous for the industry’s long-term growth?

A compliance-first mindset creates a false sense of security. It turns responsibility into a checklist rather than a design principle, and this means you can meet every regulatory requirement and still fail the player. Because the real risks are not in the rules, they’re in the experience itself. The speed of the game, how rewards are structured and how frictionless the journey is all play a much bigger role than a disclaimer or a limit setting screen. If those elements aren’t designed responsibly, compliance alone will not protect the player or the business in the long run.

It seems your belief is that responsibility sits in the systems operators and technology providers build. Can you give a concrete example of how a poorly designed system fails a player, even if the operator has good intentions?

A common failure is when all safeguards sit at the end of the journey. A player can deposit easily, play continuously and only encounter friction once certain thresholds are triggered.

At that point, the system is reacting rather than preventing. Even with good intentions and the right tools in place, the design has already allowed the player to move into a vulnerable position. Responsibility needs to be built earlier in the experience. It has to be part of pacing, visibility and interaction design, not just alerts and limits after the fact.

VeliTech sits at several layers: game provider, aggregator and platform. How does having control over the content (VeliPlay/Heaven of 7) allow you to bake in safety features that a standard platform provider might miss?

What makes our position unique is that we operate across several layers of the ecosystem, so we aren’t just looking at responsibility from one angle. At the content level, you can influence how games are designed and how players experience them. At the aggregation level, you gain visibility across a large volume of games and player behaviour, which allows you to identify patterns that would otherwise go unnoticed. At the platform level, you can enforce decisions consistently across the entire environment. When those layers are connected, responsibility becomes systemic rather than fragmented. It’s no longer dependent on a single tool or intervention but embedded across the full player journey.

When we talk about data in responsible gambling, people often think of spreadsheets. How can we use real-time data to intervene before a player even realises they’re at risk?

Data should not only be used for reporting or analysis after the fact. Its real value is in real-time application. You can detect changes in behaviour as they happen, whether that is increased session intensity or a shift in betting patterns. This allows you to intervene earlier and more intelligently. The goal is not to stop the player, but to guide them before they reach a point where control is lost. That is where data becomes a tool for sustainability rather than just conversion.

There is a tension between thrilling game design (like crash games) and safe gaming. How do you challenge your game designers to create excitement without relying on addictive “dark patterns”?

There is a tension between excitement and responsibility, but it’s also where good design comes in. Engagement does not have to rely on manipulation. Strong game design should be built on transparency and clear player experience, not on mechanisms that push players beyond their intent. If a game depends on speed, confusion or psychological pressure to retain players, it’s not sustainable. The real challenge is to create engaging experiences that respect the player’s control. That’s where long-term value is created.

Operators are often afraid that strict safe gaming tools will hurt their bottom line. With your 20 years of experience, what would you say to a CEO who is worried that responsibility will drive their VIPs elsewhere?

In the short term, it might look that way. But over time, the opposite is true. A player who burns quickly may generate strong revenue initially, but they’re not sustainable. A player who is managed responsibly will stay longer, engage more consistently and provide value over years rather than days. The real question is not whether responsibility reduces revenue, but what kind of revenue you want to build. Sustainable growth always outperforms short-term extraction.

If you could change one thing about how the industry currently discusses responsibility at the regulatory level, what would it be?

The industry still focuses too much on who is responsible instead of how responsibility is implemented. Regulation tends to measure outputs such as limits and disclosures, but it doesn’t always address how systems are designed. That’s where the real impact lies. If the conversation shifts toward system design, including game mechanics, platform architecture and the use of data, we can create a more consistent and meaningful standard across the industry.

The post Beyond the Burn: How Systemic Responsibility Drives Long-Term ROI appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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