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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.
GG.BET has launched Popular Bets, a new platform feature that lets users place bets on ready-made combo selections in a few clicks.
The operator said the “Popular” section on the homepage highlights pre-built combinations based on popular matches and the latest markets. Once a user selects a combo, the full set of selections is automatically added to the bet slip.
According to GG.BET, the combos are generated using “enhanced recommendation algorithms” and built from markets that are popular among gg.bet users. The company said the goal is to reduce the time customers spend building selections and make the betting flow “easier and more accessible” for both experienced and newer bettors.
The update follows other recent product changes on the platform, including the launch of Bet Builder, which GG.BET said allows users to combine multiple markets within one match across both sports and esports.
The post GG.BET adds ‘Popular Bets’ ready-made combo slips appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
22Bet Partners
22Bet Partners Introduces The Winner’s League — An Affiliate Competition Built for Football Season
As the football world prepares for its biggest stage, 22Bet Partners is warming up with a competition of its own.
In anticipation of the upcoming World Cup, the affiliate program has announced “The Winner’s League”, a limited-time campaign designed to reward new partners who bring winning traffic during the most exciting period of the football calendar.
Being a brand deeply rooted in the global sports scene, 22Bet has long aligned its identity with the energy, competition, and global passion surrounding football. The new campaign reflects that same spirit — turning affiliate performance into a league of its own.
Running from April 15 to June 15, The Winner’s League invites new affiliates to step onto the field, compete for performance-based rewards, and secure boosted revenue share conditions ahead of the football season’s peak traffic period.
For traffic owners focused on Tier-1, Tier-2 markets, the campaign offers a straightforward challenge: bring players, reach milestones, and climb the reward ladder.
How The Winner’s League Works
The promotion is available exclusively to new partners who register and meet the campaign requirements during the promotional period.
To participate, affiliates must:
- Register in the 22Bet Partners affiliate program
- Drive traffic from eligible Tier-1, Tier-2 regions
(For detailed GEO information, partners are encouraged to contact their affiliate managers.) - Generate verified First Time Deposits (FTDs) during the campaign period
Only traffic that complies with the program’s official rules and conditions will be considered eligible.
Bonus Levels & Rewards
The Winner’s League operates with a clear milestone structure. As partners increase their performance, their rewards grow accordingly.
20 FTDs
- 5% RevShare boost for 1 month
50 FTDs
- 10% RevShare boost for 2 months
100 FTDs
- 5% RevShare boost for 3 months
- Exclusive Secret Football Box
The Secret Football Box will be awarded to the first 10 partners who reach the 100 FTD milestone.
Additional Campaign Rules
- Bonuses are credited after FTD confirmation.
- Each partner receives only the highest reward tier achieved.
- The promotion applies to the following brands within the program:
- 22Bet
- Betlabel
- All traffic must comply with the official affiliate program rules outlined in the Terms & Conditions
Playing the Long Game
For affiliates who treat performance marketing like a competitive sport, the timing of the campaign is no coincidence.
Major football tournaments historically bring some of the highest engagement levels in sports betting, and 22Bet Partners is positioning its affiliate network to capture that momentum early.
With The Winner’s League, the message is simple: the football season is approaching, the audience is warming up, and the field is open for new players.
For affiliates ready to compete, the league has already begun.
The post 22Bet Partners Introduces The Winner’s League — An Affiliate Competition Built for Football Season appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
22Bet Partners
22Bet Partners Introduces The Winner’s League — An Affiliate Competition Built for Football Season
As the football world prepares for its biggest stage, 22Bet Partners is warming up with a competition of its own.
In anticipation of the upcoming World Cup, the affiliate program has announced “The Winner’s League”, a limited-time campaign designed to reward new partners who bring winning traffic during the most exciting period of the football calendar.
Being a brand deeply rooted in the global sports scene, 22Bet has long aligned its identity with the energy, competition, and global passion surrounding football. The new campaign reflects that same spirit — turning affiliate performance into a league of its own.
Running from April 15 to June 15, The Winner’s League invites new affiliates to step onto the field, compete for performance-based rewards, and secure boosted revenue share conditions ahead of the football season’s peak traffic period.
For traffic owners focused on Tier-1, Tier-2 markets, the campaign offers a straightforward challenge: bring players, reach milestones, and climb the reward ladder.
How The Winner’s League Works
The promotion is available exclusively to new partners who register and meet the campaign requirements during the promotional period.
To participate, affiliates must:
- Register in the 22Bet Partners affiliate program
- Drive traffic from eligible Tier-1, Tier-2 regions
(For detailed GEO information, partners are encouraged to contact their affiliate managers.) - Generate verified First Time Deposits (FTDs) during the campaign period
Only traffic that complies with the program’s official rules and conditions will be considered eligible.
Bonus Levels & Rewards
The Winner’s League operates with a clear milestone structure. As partners increase their performance, their rewards grow accordingly.
20 FTDs
- 5% RevShare boost for 1 month
50 FTDs
- 10% RevShare boost for 2 months
100 FTDs
- 5% RevShare boost for 3 months
- Exclusive Secret Football Box
The Secret Football Box will be awarded to the first 10 partners who reach the 100 FTD milestone.
Additional Campaign Rules
- Bonuses are credited after FTD confirmation.
- Each partner receives only the highest reward tier achieved.
- The promotion applies to the following brands within the program:
- 22Bet
- Betlabel
- All traffic must comply with the official affiliate program rules outlined in the Terms & Conditions
Playing the Long Game
For affiliates who treat performance marketing like a competitive sport, the timing of the campaign is no coincidence.
Major football tournaments historically bring some of the highest engagement levels in sports betting, and 22Bet Partners is positioning its affiliate network to capture that momentum early.
With The Winner’s League, the message is simple: the football season is approaching, the audience is warming up, and the field is open for new players.
For affiliates ready to compete, the league has already begun.
The post 22Bet Partners Introduces The Winner’s League — An Affiliate Competition Built for Football Season appeared first on Americas iGaming & Sports Betting News.
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