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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.
Danny Gordon Head of Studio at DEGEN Studios
DEGEN Studios unleashes the Plague City chase
DEGEN Studios has launched Plague City, a Scatter Pays slot built around visible progression, escalating features and a 10,000x max win chase. Every winning combination spreads infection across the reels, creating bigger setups as players build towards Plague Wave Respins, Plague Breakout Free Spins and Super Free Spins.
During the base game, any position that forms part of a winning combination becomes infected, and as wins and cascades continue, the outbreak can spread across more of the reels.
A Med Kit should stop the outbreak. In Plague City, it starts the next stage. Landing a Med Kit while infected positions are active triggers Plague Wave Respins, where infected positions remain active, Wilds become sticky with multipliers, and Respins continue until every infected position has been healed or no further wins occur.
Every Sticky Wild begins with three lives. Each winning cascade reduces a Wild’s life by one, while every newly landed Wild increases the multiplier value of all active Wilds, allowing multiplier chains to continue growing throughout the feature.
The chase escalates further in Plague Breakout Free Spins. Triggered by four, five or six Scatters, every Free Spins feature begins with eight Free Spins. Scatter symbols are replaced by Vaccines, which award retriggers and upgrade the Starting Wild Multiplier, allowing future Wilds to land with increasingly higher multiplier values.
Land six Scatters and the outbreak reaches Super Free Spins, where every newly landed Wild increases the multiplier value of all active Wilds by +2x. From there, the max win chase becomes a race to collect Vaccines, extend the feature and continue landing new Wilds as multiplier chains grow towards 10,000x the bet.
For players looking to accelerate the chase, Buy Bonus and Activate options offer direct entry into Plague Breakout Free Spins, Mystery Buy, or boosted chances of triggering both Free Spins and Plague Wave Respins.
Danny Gordon, Head of Studio at DEGEN Studios, said: “At DEGEN, we’re obsessed with building gameplay that players can actually follow. In Plague City, every mechanic has a purpose. The infection spreads, Vaccines extend the feature, Wild multipliers continue growing and every step brings the max win chase closer.”
The post DEGEN Studios unleashes the Plague City chase appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
AccaMAX
Hub88 adds AccaMAX slots and crash games to its aggregation platform
SlotsMAX and CrashMAX titles roll out via one-click access for Hub88’s operator partners, alongside tiered progressive jackpots.
Hub88 has signed a content distribution deal with AccaMAX to add the studio’s slots and crash portfolio to its aggregation platform, making the content available to Hub88’s operator partners via one-click access.
Under the agreement, AccaMAX’s catalogue will be delivered through Hub88, including the provider’s SlotsMAX and CrashMAX collections. The companies said the integration will also include AccaMAX’s four-tier progressive jackpot network.
Hub88 said AccaMAX’s titles are tested for “fairness, performance and regulatory compliance across all major jurisdictions,” positioning the content for multi-market operator rollouts.
Ollie Castleman, Managing Director at Hub88, said: “AccaMAX has been making waves over the last year, since the launch of its SlotsMAX library in 2025. With a broad range of themes and a highly motivating jackpot system, the supplier is a welcome addition to our platform. We are excited to deliver their portfolio and see what other surprises await in their roadmap this year.”
Christo Bezuidenhout, CPO at AccaMAX, said: “Partnering with Hub88 means operators can enable our entire product offering in a single step, with none of the usual integration overhead. Every title we ship is crafted for entertainment value and tested for compliance across major markets, and this partnership puts that quality in front of operators worldwide. We’d encourage anyone already on the Hub88 network to switch us on and see the difference for their players.”
The post Hub88 adds AccaMAX slots and crash games to its aggregation platform appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Canada
Gaming Corps expands Entain deal with Ontario live and Alberta launch planned
Supplier content is already live on BetMGM in Ontario, with Party Casino & Sports Interaction lined up ahead of Alberta’s July iGaming opening.
Gaming Corps has expanded its partnership with Entain, extending distribution of its casino content across more Entain brands and markets, with Canada positioned as a key near-term focus.
The supplier went live with Entain’s joint venture BetMGM in Ontario in December 2025, followed by a wider Entain rollout in the province in March 2026. Gaming Corps and Entain are also preparing for Alberta’s regulated iGaming market opening in July, with Gaming Corps content “ready to go live from day one with BetMGM” and Party Casino & Sports Interaction to follow.
Outside Canada, Gaming Corps said it completed a full content launch in Brazil with Sportingbet and Betboo in May, and launched 3 Pigs of Olympus exclusively across Entain’s UK-facing Ladbrokes, Coral Gala and Foxy brands in June. The company also said additional launches are being prepared for Portugal, Spain and New Zealand.
The latest phase includes football-themed titles such as Penalty Champion, Goals to Glory: Football Fever and Goals to Glory: Instant Blitz, alongside the supplier’s 3 Pigs IP. Graham Greensmith, Chief Commercial Officer at Gaming Corps, said: “For Gaming Corps, this is a huge milestone. Entain is one of the biggest names in global gaming, so to see our relationship grow in this way is a clear sign of the trust, performance and commercial value we have built together.
“What makes this particularly exciting is the scale of the opportunity. This is not a single-brand launch or a one-market rollout. Entain is continuing to take Gaming Corps content into more territories, across more of its brands, and that says a lot about where we are as a business.
“We have worked hard to build a portfolio that gives major operators real flexibility, from high-performing IP to timely, event-led content and new game formats. To see that strategy being recognised by a partner of Entain’s calibre is incredibly rewarding, and we are very excited about what comes next.”
Obdulio Bacarese, Global Gaming Director at Entain, added: “Gaming Corps has been a valuable partner over the last four years. The strength of the relationship lies in how easily the content can be activated around different commercial priorities, from supporting new market entries to adding timely releases around key calendar moments. The studio understands the need for content that is flexible, relevant and easy to position locally, and we are pleased to continue building on the partnership.”
The post Gaming Corps expands Entain deal with Ontario live and Alberta launch planned appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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