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GAN Reports Third Quarter 2024 Financial Results

Published

2 years ago

November 12, 2024

Niji Narayan

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Reading Time: 2 minutes

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.

AGLC

High 5 Games wins AGLC supplier approval ahead of Alberta iGaming launch

Published

34 minutes ago

July 10, 2026

Wladimir P.

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The supplier can now distribute its online casino titles beyond Play Alberta to all licensed operators in the province.

High 5 Games has secured supplier approval from the Alberta Gaming, Liquor and Cannabis Commission (AGLC), allowing the studio to supply its online casino content to all licensed operators in Alberta’s newly opened commercial iGaming market.

The company has been live in the province since 2024 via Play Alberta, the government-operated platform, where it said titles including DaVinci DeluxeWays, Billionaire’s Bank and Green Machine have become player favourites. With the commercial market now open, High 5 Games said the same portfolio can be offered across operators entering Alberta.

Alberta’s commercial iGaming market is set to open on July 13, 2026, becoming Canada’s second province after Ontario to allow private-sector operators. The market is overseen by AGLC and the Alberta iGaming Corporation (AiGC) and launched with nearly 50 registered operator brands, according to the company.

“Alberta players already know and love our games through Play Alberta, that is a head start no newcomer to this market can claim. With the open market live, every operator in the province can now offer their players the award winning High 5 titles they have been playing for years, from day one.” says Tony Singer, CEO at High 5 Games.

High 5 Games said the AGLC approval expands its regulated North American footprint, which it listed as including New Jersey, Michigan, Pennsylvania, Connecticut, West Virginia, Ontario, Quebec and British Columbia. The company said it has developed more than 300 games over three decades.

The post High 5 Games wins AGLC supplier approval ahead of Alberta iGaming launch appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Desiree Dickerson CEO and co-founder of THNDR

Jackpot.com adds THNDR PvP skill games across six US states

Published

34 minutes ago

July 10, 2026

Wladimir P.

jackpot.com-adds-thndr-pvp-skill-games-across-six-us-states

Jackpot.com has launched real-money player-vs-player (PvP) skill games and tournaments through a new partnership with B2B skill games platform THNDR. The games are now live in Arkansas, Colorado, Massachusetts, New Jersey, New York, and Ohio via the Jackpot.com app on iOS and Android.

Under the rollout, Jackpot.com users can play head-to-head skill titles including Solitaire and Blocks, as well as tournament formats intended to drive repeat engagement alongside draw games and scratch tickets.

“Jackpot.com is the first big operators in real-money gaming to put skill games in front of its players, and launches at this scale are how skill gaming goes mainstream,” said Desiree Dickerson, CEO and co-founder of THNDR. Dickerson added that THNDR’s network has seen “more than 160 million games played and verified” and cited a “99.99% match-fill rate.”

THNDR said its cross-operator liquidity matches players against “a real opponent” and uses “patent-pending game verification and a 50/50 target win rate” for match integrity. The company also positioned the offering as compliance-ready for regulated operators, noting that its CEO chairs the Online Skill Games (OSG) Committee within the International Gaming Standards Association (IGSA).

“Jackpot.com has always believed the future of gaming is a single platform where every type of player finds their game. The launch of skill games and tournaments is the next step in that vision: expanding how players engage, giving them more reasons to return, and more ways to win,” said Dharin Nanavati, Chief Growth Officer at Jackpot.com.

The post Jackpot.com adds THNDR PvP skill games across six US states appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

GGPoker

GGPoker adds Action Voice packs featuring Doyle Brunson and other pros

Published

12 hours ago

July 9, 2026

Wladimir P.

ggpoker-adds-action-voice-packs-featuring-doyle-brunson-and-other-pros

New software option replaces standard table announcements across cash games, tournaments and formats including All-In or Fold and Spin & Gold.

GGPoker on July 9, 2026 announced Action Voice, a new software feature that lets players replace standard table announcements with voice packs recorded by poker personalities, including Doyle Brunson.

The initial lineup named by the operator includes ten-time WSOP bracelet winner Doyle Brunson, Daniel Negreanu, Michael “The Grinder” Mizrachi and Kevin Martin, with additional voices “to be confirmed in the near future.”

Action Voice is available now across GGPoker’s product offering, including cash games, tournaments and formats such as All-In or Fold and Spin & Gold. Players can select voice packs in the desktop client via ‘My Page’ and then ‘My Action Voice’.

“Doyle Brunson may not be at the tables in the way that he used to, but his voice still can be,” said Sarne Lightman, Managing Director of GGPoker. “Action Voice is our way of keeping the legends who built this game part of the everyday experience – right alongside the players carrying it forward today, like Daniel and Michael. It’s a unique and fun new element to our software, and we can’t wait to reveal the rest of the lineup soon.”

GGPoker said more Action Voice packs will be announced in the coming weeks as it rolls out the full roster.

The post GGPoker adds Action Voice packs featuring Doyle Brunson and other pros appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.