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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.
GamingTECH CEE Awards 2026
WinSpirit wins Best Online Casino in CEE at the GamingTECH CEE Awards 2026
Online casino brand WinSpirit has been announced as the winner in the Best Online Casino in CEE category at the GamingTECH CEE Awards 2026 — a respected industry event celebrating excellence across the iGaming sector.
Since launching in mid-2022, WinSpirit has rapidly gained recognition for its dynamic approach to product development, creative marketing, and a genuine player-first philosophy. The brand stands out by successfully combining innovative features, high-quality entertainment, and strong focus on player experience.
Over the past year, WinSpirit has demonstrated impressive growth across key metrics, significantly expanding its loyal player base, VIP segment, and overall betting activity. The brand has also introduced unique interactive formats, enhanced its loyalty system with the real-time Gift Shop, and continued to invest in smart personalisation across the platform.
This award adds to WinSpirit’s growing list of international recognitions. The brand also maintains excellent player ratings across major review platforms, consistently receiving high marks for service quality and user experience.
With this latest victory, WinSpirit continues to solidify its reputation as one of the most dynamic and player-oriented online casinos in the industry — combining rapid growth with innovation and a clear focus on player satisfaction.
The post WinSpirit wins Best Online Casino in CEE at the GamingTECH CEE Awards 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Stake.dk, Denmark’s leading online casino and sportsbook, today announces the launch of an exclusive campaign in connection with Denmark’s decisive World Cup playoff match against North Macedonia on March 26, 2026 in Parken.
Stake Sportsbook offers Danish football enthusiasts a unique opportunity to support the national team without risk: Players can place a single bet on Denmark to win on the 1×2 market before the match starts, and if Denmark does not win in regular time, the player will get their stake back in cash – up to DKK 1,000.
The campaign is created to celebrate one of the most important moments in Danish football in 2026. With a direct entry ticket to the World Cup at stake, the atmosphere is high, and Stake.dk wants to give its customers the opportunity to experience the match with full support and minimal risk.
To qualify for the promotion, players must place a single bet of at least DKK 25 on the 1×2 market with Denmark as the winner before the scheduled match kick-off. The offer only applies to the first qualifying bet per player, and the refund will be paid as pure cash directly to the player’s Stake account within 48 hours if Denmark does not win in regular time.
Denmark will meet North Macedonia on Thursday, March 26 at 20:45 CET in Parken as part of the World Cup playoff.
The campaign emphasizes Stake.dk’s dedication to delivering relevant and engaging experiences to its Danish customers in connection with major sporting events.
The promotion is available to all Stake customers with an active betting account at stake.dk. Full list of terms and conditions is available on the promotion page.
About Stake
Stake is the world’s most popular online casino and sportsbook. Founded in 2017, Stake attracts over 80 million monthly visitors – more than any other iGaming platform – and handles over 100 billion bets per year. Stake is recognized for its innovation in crypto gaming, as well as its growing expansion into regulated local currency markets in Italy, Denmark, Brazil, Colombia and Peru. Stake also has an impressive portfolio of global sponsorships, including Canadian superstar Drake, X Games, Everton Football Club and UFC.
Contact
Stake
The post Stake.dk Offers Money Back on Denmark’s World Cup Playoff Match Against North Macedonia appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Stake.dk, Denmark’s leading online casino and sportsbook, today announces the launch of an exclusive campaign in connection with Denmark’s decisive World Cup playoff match against North Macedonia on March 26, 2026 in Parken.
Stake Sportsbook offers Danish football enthusiasts a unique opportunity to support the national team without risk: Players can place a single bet on Denmark to win on the 1×2 market before the match starts, and if Denmark does not win in regular time, the player will get their stake back in cash – up to DKK 1,000.
The campaign is created to celebrate one of the most important moments in Danish football in 2026. With a direct entry ticket to the World Cup at stake, the atmosphere is high, and Stake.dk wants to give its customers the opportunity to experience the match with full support and minimal risk.
To qualify for the promotion, players must place a single bet of at least DKK 25 on the 1×2 market with Denmark as the winner before the scheduled match kick-off. The offer only applies to the first qualifying bet per player, and the refund will be paid as pure cash directly to the player’s Stake account within 48 hours if Denmark does not win in regular time.
Denmark will meet North Macedonia on Thursday, March 26 at 20:45 CET in Parken as part of the World Cup playoff.
The campaign emphasizes Stake.dk’s dedication to delivering relevant and engaging experiences to its Danish customers in connection with major sporting events.
The promotion is available to all Stake customers with an active betting account at stake.dk. Full list of terms and conditions is available on the promotion page.
About Stake
Stake is the world’s most popular online casino and sportsbook. Founded in 2017, Stake attracts over 80 million monthly visitors – more than any other iGaming platform – and handles over 100 billion bets per year. Stake is recognized for its innovation in crypto gaming, as well as its growing expansion into regulated local currency markets in Italy, Denmark, Brazil, Colombia and Peru. Stake also has an impressive portfolio of global sponsorships, including Canadian superstar Drake, X Games, Everton Football Club and UFC.
Contact
Stake
The post Stake.dk Offers Money Back on Denmark’s World Cup Playoff Match Against North Macedonia appeared first on Americas iGaming & Sports Betting News.
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