Latest News
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.
American gambling industry
Gaming Americas Weekly Roundup – January 26-February 1
Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.
Latest News
ComeOn Group has launched its new marketing campaign in Ontario. The campaign underscores ComeOn Group’s long-term commitment to sustainable expansion – powered by ComeOn’s proprietary technology and a clear focus on delivering standout, personalised entertainment experiences at scale. At the centre of the campaign is a series of premium television commercials starring Jeremy Piven, a long-standing ComeOn brand ambassador. Piven’s high-energy presence and authentic connection to sports reinforce the brand’s entertainment-first positioning, bringing ComeOn’s sportsbook experience to life across TV and digital. Produced by ComeOn Group’s internal creative hub, the campaign provides a cohesive creative platform that clearly differentiates the brand in a crowded market.
Michigan commercial and tribal operators have reported a combined $399.8 million total internet gaming (iGaming) gross receipts and gross sports betting receipts in December. Gross receipts increased 19.1% compared to November. December iGaming gross receipts totaled $315.8 million, the highest to date. The previous high was $278.5 million recorded in October 2025. December gross sports betting receipts totaled $84.0 million, which is a decrease from the $87.3 million recorded in November. Combined total iGaming and internet sports betting adjusted gross receipts (AGR) for December were $357.87 million, including $296.74 million from iGaming and $61.13 million from internet sports betting — representing an iGaming increase of 27.2% and a sports betting decrease of 5.6% when compared to November 2025.
The Cordish Companies and Bruce Smith Enterprise celebrated the highly-anticipated grand opening of Live! Casino Virginia, the region’s first full-scale casino. The opening of the temporary gaming facility marks an important milestone in bringing new jobs, economic development and tourism to the region while construction advances on the permanent resort destination next door. Located just 25 miles south of Richmond and only 45 miles north of the North Carolina border, Live! Casino Virginia is conveniently off I-95 at Exit 48B. Live! Casino Virginia delivers a full-scale gaming experience 24 hours a day, seven days a week, featuring 75,000 square feet of gaming space with more than 900 state-of-the-art slot machines and over 30 live-action table games.
Partnerships
GuardDog, a responsible play innovation fund from Underdog, has announced an investment in Regen, the first platform to automatically convert entries into savings with every play. In addition to the investment, Underdog will feature Regen as a new resource in its responsible play hub, highlight Regen in customer communications from the responsible play and customer support teams as well as provide access to the platform to all of its employees. Regen allows users to link their sportsbook, fantasy sports and prediction market accounts, and automatically save a small percentage from every entry, win or loss, creating savings without changing how they play.
Table Trac Inc. has announced that the Mardi Gras Hotel & Casino located in Las Vegas, United States, Nevada, will soon have Table Trac Inc.’s CasinoTrac casino management system installed. Mardi Gras Hotel and Casino is located just steps from the Las Vegas Convention Center and Main Monorail terminal the Mardi Gras is convenient to all of the World Famous attractions of Las Vegas.
The post Gaming Americas Weekly Roundup – January 26-February 1 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Africa Bet Partners
How Traffy Cut FTD Cost in Half and Scaled Betting in Tanzania for Africa Bet Partners via Moloco Ads
This case highlights the impact of systematic optimization in Moloco Ads for the Betting vertical. Despite market turbulence in East Africa, Traffy not only maintained Africa Bet’s KPIs but also significantly improved ROI through deep, data-driven optimization.
Project Overview
Africa Bet Partners Offer: Betting
Traffic Partner: Traffy
Source: Moloco Ads (Google Play Inventory)
Geo: Tanzania (TZ)
Period: 2 months
Total Spend: ~$42,000
Final CR (Reg-to-FTD): 60%
Final CR (FTD 1-to-FTD 2): 45%
Challenge and Initial Metrics
At the launch of the campaign, the situation was challenging. The complex economic and political environment in Tanzania had a direct impact on consumer purchasing power and the stability of payment systems.
Initial Cost per FTD: $15.00
Goal: Reduce the cost of the target action to below $8 and identify scaling potential.
Optimization Strategy: What Was Done
The success of this case is the result of Traffy’s consistent work across four key areas:
1. Traffic Quality Management (Exchanges & Publishers)
Traffy conducted a comprehensive audit of publishers (placements) through which Moloco acquired inventory.
- Blacklists were created based on low deposit conversion.
- Collaboration was optimized with specific ad exchanges that demonstrated stronger Retention.
2. Creative Strategy
Traffy moved away from standard approaches and implemented a system of regular testing of new creative packs. Creative optimization significantly increased CTR and IPM, providing the Moloco algorithm with more data for learning.
3. Traffic Cleanup to Avoid Paying for Bots
- Placements with suspicious install times (CTIT) were filtered out to protect against click flooding.
- Device “farms” were identified and banned through Device ID analysis.
- Using BI tools, installs were cross-checked with real user activity. Placements with no engagement were added to the Blacklist.
4. Funnel Optimization
Through targeting optimization at the campaign level, Traffy attracted more relevant users. This led to an increase in the CR from registration to FTD up to 60%, which is an abnormally high indicator for this region.
Key Insight
Deep publisher analytics in Moloco Ads combined with category segmentation allows reducing deposit cost by more than 2x while maintaining high player quality (Retention and repeat deposits).
Result
Traffy not only met Africa Bet’s KPIs but also built a stable model for further scaling. Even in “difficult” geos, a systematic optimization approach makes it possible to achieve outstanding results. At the moment, the campaign continues to run, and user Retention (FTD 2) shows organic growth.
The post How Traffy Cut FTD Cost in Half and Scaled Betting in Tanzania for Africa Bet Partners via Moloco Ads appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Africa Bet Partners
How Traffy Cut FTD Cost in Half and Scaled Betting in Tanzania for Africa Bet Partners via Moloco Ads
This case highlights the impact of systematic optimization in Moloco Ads for the Betting vertical. Despite market turbulence in East Africa, Traffy not only maintained Africa Bet’s KPIs but also significantly improved ROI through deep, data-driven optimization.
Project Overview
Africa Bet Partners Offer: Betting
Traffic Partner: Traffy
Source: Moloco Ads (Google Play Inventory)
Geo: Tanzania (TZ)
Period: 2 months
Total Spend: ~$42,000
Final CR (Reg-to-FTD): 60%
Final CR (FTD 1-to-FTD 2): 45%
Challenge and Initial Metrics
At the launch of the campaign, the situation was challenging. The complex economic and political environment in Tanzania had a direct impact on consumer purchasing power and the stability of payment systems.
Initial Cost per FTD: $15.00
Goal: Reduce the cost of the target action to below $8 and identify scaling potential.
Optimization Strategy: What Was Done
The success of this case is the result of Traffy’s consistent work across four key areas:
1. Traffic Quality Management (Exchanges & Publishers)
Traffy conducted a comprehensive audit of publishers (placements) through which Moloco acquired inventory.
- Blacklists were created based on low deposit conversion.
- Collaboration was optimized with specific ad exchanges that demonstrated stronger Retention.
2. Creative Strategy
Traffy moved away from standard approaches and implemented a system of regular testing of new creative packs. Creative optimization significantly increased CTR and IPM, providing the Moloco algorithm with more data for learning.
3. Traffic Cleanup to Avoid Paying for Bots
- Placements with suspicious install times (CTIT) were filtered out to protect against click flooding.
- Device “farms” were identified and banned through Device ID analysis.
- Using BI tools, installs were cross-checked with real user activity. Placements with no engagement were added to the Blacklist.
4. Funnel Optimization
Through targeting optimization at the campaign level, Traffy attracted more relevant users. This led to an increase in the CR from registration to FTD up to 60%, which is an abnormally high indicator for this region.
Key Insight
Deep publisher analytics in Moloco Ads combined with category segmentation allows reducing deposit cost by more than 2x while maintaining high player quality (Retention and repeat deposits).
Result
Traffy not only met Africa Bet’s KPIs but also built a stable model for further scaling. Even in “difficult” geos, a systematic optimization approach makes it possible to achieve outstanding results. At the moment, the campaign continues to run, and user Retention (FTD 2) shows organic growth.
The post How Traffy Cut FTD Cost in Half and Scaled Betting in Tanzania for Africa Bet Partners via Moloco Ads appeared first on Americas iGaming & Sports Betting News.
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