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GAN Reports Third Quarter 2024 Financial Results

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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.

Altenar

Altenar launches Super Early Payout to boost World Cup engagement

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Leading sportsbook provider Altenar has announced the launch of Super Early Payout to give soccer bettors more chance to celebrate winning moments before the final whistle.

The new promotion has gone live in time for the World Cup 2026 and means bettors who back a team in eligible markets will have their bet settled as a winner as soon as their selected team takes a one-goal lead, regardless of the final result.

This is an upgrade to the popular Early Payout offer, which requires a team to lead by two goals before qualifying bets are settled. Reducing the threshold to one goal allows Super Early Payout to deliver faster wins and an even more engaging betting experience.

Operators can configure the promotion for a specific team or both teams, while also having the option to replace the standard 1X2 market for a more prominent promotional experience.

Altenar has also brought greater flexibility to promotional campaigns with improvements to the Early Payout feature, which can now be applied directly to selected events rather than entire championships, making it easier to highlight key World Cup fixtures and other high-profile matches.

The enhancement supports both two-goal and three-goal Early Payout configurations and can also be applied to one or both teams. By moving beyond championship-wide set-ups, operators can create more targeted campaigns.

Expanded markets have also enriched Altenar’s soccer coverage at major tournaments such as the World Cup. New additions allow bettors more choice when it comes to player performance, including how goals or shots were made (by foot, header, outside the box etc).

Player specials have been expanded to include substitute coverage, allowing betting opportunities to remain relevant even when the originally selected player is replaced by a substitute.

A comprehensive range of player, team and match markets are also now available for matches that go to extra time, creating additional betting opportunities during the knockout stage of tournaments such as the World Cup.

These new features follow on from the World Cup Lobby, which was recently released by Altenar as a dedicated event hub designed to enhance player engagement and streamline navigation during the upcoming tournament.

Nikos Zygouris, Head of Sportsbook Product at Altenar, said: “At Altenar, we’re focused on giving our partners the flexibility to tailor their sportsbook experience to the needs of their customers.

“Super Early Payout allows operators to offer a more engaging soccer betting proposition, while our expanded range of markets means bettors have more choice than ever when it comes to placing bets on the markets which matter most to them.

“These enhancements combine greater promotional flexibility with deeper soccer coverage, helping operators maximise engagement throughout the World Cup.”

The post Altenar launches Super Early Payout to boost World Cup engagement appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Arnold Ash

Arnold Ash sponsors Arthurian League US tour ahead of 2026 Transatlantic Cup

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Arnold Ash has agreed a sponsorship deal for the Arthurian League’s 2026 US Tour, which will culminate in the inaugural Transatlantic Cup on Friday 26 June in Philadelphia. The announcement was dated Friday 12th June 2026.

The Transatlantic Cup will be played during the 2026 World Cup and is framed by organisers as part of events marking 250 years of US independence. US amateur champions West Chester United SC, holders of the 2025 US Adult Soccer Association (USASA) National Amateur Cup, will host the Arthurian League representative side.

Arnold Ash’s logo will appear on the front of the touring team’s white and red England kit. The company said the headline partnership covers the full 12-day tour, including additional matches against New York Athletic Club and Boston Bolts, plus in-stadium branding at the ticketed fixture at Drexel University’s Vidal Athletic Complex and across event online and social channels.

Jon Arnold, CEO at Arnold Ash, said: “Arnold Ash has been a proud sponsor of the Arthurian League representative sides at major events before, but it doesn’t get any bigger than this. The team is hugely talented, made up of the top amateur players England has to offer and – as the best-of-the-best – reflect the Arnold Ash core principles of quality, experience and consistency.

“The World Cup is now underway, but for the next five weeks, the Transatlantic Cup is where the real action is at! We wish both England teams the best of luck stateside!”

Billy Jenkins, Manager of the Arthurian League representative team, said: “Arnold Ash’s sponsorship is hugely valuable to our team, and we are incredibly grateful for their continued backing of grassroots football.

“We are honoured to participate in the first-ever Transatlantic Cup and just like England’s professional team hope to be lifting prestigious silverware on US soil in the coming weeks.”

The post Arnold Ash sponsors Arthurian League US tour ahead of 2026 Transatlantic Cup appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Esports Foundation opens 2026 co-streaming Creator Program with $2m rewards pool

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The Esports Foundation (EF) has opened applications for its 2026 Creator Program, committing $2 million (~INR 19 crore) in rewards for co-streamers supporting the Esports World Cup (EWC) 2026 in Paris and the Esports Nations Cup (ENC) 2026 in Riyadh. EF announced the program on June 12, 2026, from Paris and Riyadh, and said applications are open now, including for creators across India.

EF said co-streaming was a key driver of EWC reach last year, citing 3,500 co-streamers as “one of the key growth pillars” for EWC viewership in 2025. The Foundation is positioning the 2026 Creator Program as a scaled-up initiative, targeting 5,000 creators “across new regions and platforms.”

“This isn’t just an esports trend; it’s a media trend,” said Wasae Imran, Director Broadcast & Distribution at the Esports Foundation. “Across music, video, news and sport, audiences don’t just watch what they’re given anymore. They choose their own experience: what to watch, where to focus, and how deep to go. Esports just lives further down that road than most, and traditional sport is heading the same way. It’s not about delivering a match in one format, it’s about opening up every way into the same moment and letting fans choose how they want to consume it. The Creators Program is how we build for that, by enabling the growth of creators that fans already trust to carry the world’s biggest esports event into every community.”

According to EF, approved creators can co-stream selected tournaments, complete missions, and progress a “Battle Pass” tied to rewards ranging from gift cards and hardware to platform perks and invitations to EWC and ENC. EF said the program supports multiple streaming platforms, including Twitch, YouTube, Bilibili, Huya, and CHZZK.

EF also confirmed operational details for EWC 2026: the event is set for Paris Expo Porte de Versailles from July 6 through August 23, featuring more than 2,000 players and 200 Clubs from over 100 countries across 25 tournaments and 24 games, with a $75 million+ prize pool. ENC 2026 is scheduled for November in Riyadh and will extend the creator program to a nation-based competition format.

The post Esports Foundation opens 2026 co-streaming Creator Program with $2m rewards pool appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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