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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.
2026 FIFA World Cup
Bettors Rally Behind National Teams, Spotlight Mbappé, Olise and Ronaldo as Key World Cup Figures
How do bettors behave with regard to their favourite teams? Do they back them no matter what, or are they objectively calculating their chances? When it comes to national team football at least, heart seems to win over head.
Just hours before the World Cup’s premiere in Mexico, Kaizen Gaming unveils exclusive proprietary data from its Betano platform, revealing users’ betting behaviours ahead of football’s biggest tournament. The data shows that the majority of fans tend to bet in favour of their home nation. In fact, when it comes to predicting the outright World Cup winner:
- In Argentina: 79% of local Betano users have backed La Albiceleste.
- In Brazil: 75% of users have placed their bets on the Seleção.
- In Germany, 57% are backing the Nationalmannschaft.
- In Portugal, 57% have selected their national team for glory.
Even in countries where the national team isn’t universally considered among the top tournament favourites, fans still show their deep faith. In Colombia, the national team received the second-highest percentage of tournament-winner bets at 19%, trailing only Portugal (24%).
On the other hand, in non-participating nations such as Bulgaria, Denmark, Peru, and Romania, the biggest favourites among users have been Portugal, Spain, and France.
Could a 41 Year Old Cristiano Ronaldo be the tournament’s MVP?
While Cristiano Ronaldo is today 41 years old, he is not just considered one of the tournament’s biggest stars, but also a very strong candidate to emerge as its most valuable player, especially after an impressive season in the Saudi Pro League, which saw him score 30 goals across competitions and become champion with Al-Nassr. In particular, the Portuguese superstar has received 21% of bets across markets on the Betano platform to receive the tournament’s MVP, followed by Spain’s Lamine Yamal at 12% and France’s Kylian Mbappé at 10%.
When it comes to the tournament’s top goalscorer however, Mbappé is the users’ clear favourite, capturing 26% of international bets. Completing the top three are England’s Harry Kane at 12% and Cristiano Ronaldo at 8%. With regard to assists, Mbappé’s French teammate, Michael Olise is the users’ first choice at 29%, after a magnificent season that saw him provide 31 assists to his teammates at FC Bayern. The second most popular choice is the Premier League Player of the Season, Bruno Fernandes, at 18%, with Lamine Yamal in third at 13%. As for the tournament’s Best Goalkeeper, most bettors have strayed away from main odds favourites like Argentina’s Dibu Martinez or France’s Mike Maignan. Instead, they have opted for Morocco’s Bono as their top choice at 18%, deeming it a high-reward opportunity. The top three also consists of Portugal’s Diogo Costa at 13% and Belgium’s Thibaut Courtois at 11%.
Brazilians bet on Brazil to be the tournament’s lowest-scoring team!
Betano users view France as the squad with the potential to be the tournament’s highest-scoring team. In particular it has received 28% of relevant bets, followed by Germany at 16% and Portugal at 14%. On the other side, Caribbean World Cup debutants Haiti (25%) and Curaçao (19%) are the users’ main choices as the tournament’s Lowest Scoring Teams.
In a stunning statistical twist, local users in Brazil, a nation traditionally associated with “jogo bonito” (the philosophy of playing beautiful football), bet on their own squad to struggle in front of the net – Brazil has received 11% of local bets to be the tournament’s lowest-scoring team, ranking third on that specific list alongside Haiti, Curaçao, Cape Verde, and Iraq.
Interesting local bets
In Argentina, Lionel Messi is the fans’ favourite to become the tournament’s top assist-maker at 29%, yet only 7% have selected him as the top goalscorer. Colombian users have shown their adoration for local star Luis Díaz, with 24% selecting him as the tournament’s top goalscorer, only behind Mbappé at 26%. Even more overwhelming is the support for James Rodríguez, who holds a massive 43% preference among local Colombian users to finish as top assist-maker.
Brazilians remain fiercely loyal to Neymar, with 16% backing him to be the tournament’s top player despite recent injury battles. Local users also have immense faith in their next generation of talent, with 53% selecting Real Madrid’s Endrick and 27% backing Bournemouth’s Rayan Vitor for the tournament’s Best Young Player award. Finally, in Portugal, both the top choices for the tournament’s top goal scorer have been local ones: Cristiano Ronaldo at 24%, and Bruno Fernandes at 16%.
*The data shared has been extracted on June 4, 2026. More than 230,000 bets were analyzed in total across markets. The international data sources may vary according to betting option availability per market.
The post Bettors Rally Behind National Teams, Spotlight Mbappé, Olise and Ronaldo as Key World Cup Figures appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
B2B
BetConstruct AI names Lena Yasir CEO
Former Pragmatic Play chief commercial officer brings 20 years of iGaming experience to the role.
BetConstruct AI has appointed Lena Yasir as its new chief executive officer, the company said.
Yasir has 20 years of iGaming experience, with a background in B2B commercial strategy, international expansion, and building teams across regulated and emerging markets.
Before joining BetConstruct AI, Yasir held senior leadership roles at Play’n GO, Evolution, and OnGame Network. Most recently, she served as chief commercial officer at Pragmatic Play, where the company said she played a central role in its global B2B growth.
In a statement, Yasir said: “BetConstruct AI is a highly respected and successful company in the global iGaming industry, and I am proud to be joining the business at such an exciting time.”
BetConstruct AI said Yasir will focus on accelerating global revenue, driving innovation, and strengthening partnerships across the iGaming ecosystem.
The post BetConstruct AI names Lena Yasir CEO appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Digital Media
Latam Intersect flags prime-time World Cup 2026 as a reset for LATAM sports marketing
Firm points to more LATAM teams, heavier digital viewing and second-screen habits as key drivers for new campaign strategies.
Sports marketing in Latin America will face a different playbook during the FIFA World Cup 2026, according to a new analysis from Latam Intersect. The firm says the expanded tournament format, combined with prime-time scheduling for the region and more digital consumption, will change how brands plan media, content and real-time engagement.
The 2026 edition will feature 48 national teams, 104 matches and three host countries. FIFA projects more than 6 billion people will follow the tournament in some way, Latam Intersect said. For Latin America, the firm highlights the added weight of having 10 regional teams qualified, alongside the region’s historical performance in the competition.
Latam Intersect argues that the LATAM fan base is now younger and more active online, with a predominant age range of 22 to 33 and strong Gen Z and millennial presence. The company cites data indicating 41% of fans already watch matches via digital platforms and 51% use social media while watching on TV, turning each match into a continuous “second-screen” engagement window.
“In 2026, the fan is already in the middle of a conversation that never stops. Brands that show up with a prepared post after the match are already too late,”, said Livia Gammardella, Head of Marketing and Digital de Latam Intersect.
The firm also breaks the audience into three archetypes—casual fan, devoted fan and “fanático”—and says brands often underperform by treating the World Cup audience as one segment. It adds that women fans and fans arriving through pop culture, memes and music are growing audiences that global campaigns frequently miss.
A major difference versus the 2018 and 2022 tournaments is match timing for the region, with most games expected to land in prime time for Latin America, the company said. “A World Cup in prime time was exactly what retail needed. People will not watch the matches alone: they will gather with family, order food, buy products. The brand that uses cultural intelligence to understand the localized rituals of its fan will build far more connection than it could expect”, said Claudia Daré, socia y cofundadora de Latam Intersect.
The company said it has published a related eBook on platform behaviors across Instagram, TikTok and X, alongside market-specific audience data and planning framework
The post Latam Intersect flags prime-time World Cup 2026 as a reset for LATAM sports marketing appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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