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GAN Reports Third Quarter 2024 Financial Results

Published

1 year 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.

Gaming Corps

Gaming Corps Makes Strategic UK Entry Via Rank Interactive

Published

55 minutes ago

April 9, 2026

Wladimir P.

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Gaming Corps, a publicly traded game development firm located in Sweden, has secured a major new UK launch after going live with Rank Interactive across 12 online brands managed by Rank Group Plc.

The contract provides Gaming Corps with entry to one of the UK’s most prominent and well-known gaming and entertainment organizations, with the studio’s content debuting in Rank’s diverse brand portfolio, featuring familiar names like Grosvenor Casinos, Mecca Bingo, and Mecca Games.

Covering both physical and online platforms, Rank Group is a prominent name in British entertainment, with a legacy that goes back to 1937. Currently, the company caters to 3.1 million active clients, runs 109 casinos and bingo halls, and oversees over 80 online brands.

Currently, Rank Interactive players can access new Gaming Corps titles such as Wild Woof Returns, featuring Sheriff Woof Garret on a mission to catch the outlaw Feline Four, and Whole Lotta Honey, a high-volatility scatter-pay slot centered on an exciting Beehive feature. The launch also provides Rank with access to the broader identity of the Gaming Corps portfolio, defined by unique mechanics like Smash4Cash, A-Maze-Cades, and X-My-Way, which have enabled the studio to establish a more identifiable product style.

Graham Greensmith, Chief Commercial Officer at Gaming Corps, said: “The collaboration with Rank Interactive is a very exciting step for Gaming Corps because these are brands with real history, real scale and a very broad player base. It gives us the opportunity to place our content in front of audiences that engage with online gaming in very different ways, whether that is through casino, bingo or slots-led brands. For us, that is what makes this partnership so compelling. It is not just about reach; it is about relevance across a portfolio that plays an important role in the UK gaming market.”

Nolan Frendo, Head of Content at Rank Interactive, said: “When content is being introduced across a multi-brand estate like ours, it needs to have broad appeal while still bringing something fresh into the mix. Gaming Corps gives us that balance. Their games bring strong visual themes, real personality and plenty of energy, and we see this launch as an exciting addition across a number of our key brands.”

The post Gaming Corps Makes Strategic UK Entry Via Rank Interactive appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

BGaming

Hook Huge Rewards in Fishing Club 2

Published

55 minutes ago

April 9, 2026

Wladimir P.

Fast-growing content producer announces its involvement in a long-awaited sequel.

Renowned iGaming content developer BGaming aims to capture significant victories once more in Fishing Club 2, the follow-up to one of the firm’s most profitable #Casual games.

Participants settle in around a picturesque lake before dropping their lines into the water to discover what prizes they might reel in. The game offers a first-person perspective, engaging players directly in the action while conveying the soothing ambiance of an actual fishing experience.

BGaming has considered players’ opinions on the original game and provided them with greater freedom in their gameplay of Fishing Club 2. Players can fish at three spots located at dawn, dusk, and twilight. This provides each session with a unique twist and enables players to discover the atmosphere that suits their preferences.

The new Fishing Club game offers two bonus features. The Fishing Net bonus, capable of being activated for ×60 the player’s wager, spreads widely, while the TNT Bonus, valued at ×100 the wager, creates a massive blast in the water. You can acquire both of these by using the Buy Bonus button, ensuring a victory.

A skilled angler retains trophies, and the game enables players to track theirs with the well-known features Best Win and Best Catch. These show the greatest single-spin win amount and the largest multipliers achieved.

Vasili Pauliuchenko, Game Producer at BGaming, said, “The original Fishing Club title is one of players’ most-loved #Casual games by BGaming. Having listened to their feedback, we are taking them back to the open waters in Fishing Club 2 with a few pivotal updates.

We love to give our players more control over how they play, and that is on full display with Fishing Club 2. They can decide when and where they fish and what tools to use for most successful angling. We are sure that such personalization will be a hit with the game’s fans and those new to the series.”

The post Hook Huge Rewards in Fishing Club 2 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Clint Hangebrauck

EPIC and NCAA Publish 2025 Impact Report for Gambling Harm Education Program

Published

56 minutes ago

April 9, 2026

GamingAmericas.com

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The impact of EPIC Global Solutions’ gambling harm education program in NCAA colleges during 2025 has been unveiled through the release of a new report, which confirmed that student-athletes are demonstrating high awareness of identifying problem gambling among themselves and team mates.

The Impact Report details how last year saw EPIC’s team of lived experience facilitators deliver to 92 unique institutions and groups within the NCAA, serving over 25,000 people across the spectrum of collegiate sports. After beginning delivery of the initiative in 2022, the running total over the first four years has now exceeded events at more than 300 venues and has engaged more than 100,000 student-athletes, coaches, and support staff.

The mix of authentic stories, key advice on recognizing signs of gambling-related harm, and where to seek support when the issue is presented – delivered by former athletes and college students who speak from personal experience of problem gambling or sporting integrity issues – is intended to empower audiences to make more informed decisions around their personal relationships with sports wagering and other forms of gambling.

Proving the value of the concept, post-session evaluation showed that 96% of student-athletes and 97% of staff reported they could recognize the signs of harmful gambling behavior as a result of interacting with the presentations. Supporting integrity across collegiate sport, the study also confirmed that 84% of student-athletes and 89% of staff now have good or excellent awareness of the NCAA sports wagering regulations.

Clint Hangebrauck, MD of Enterprise Risk Management at NCAA, said: “2025 has proven that sport globally is under immense pressure from the dangers of sports betting. From integrity matters, harassment, and problem gambling, athletes represent a highly vulnerable population that are negatively impacted by the rapid expansion of sports betting.

“The team at EPIC continues to deliver customized education that resonates in ways a poster, digital learning or powerpoint presentation cannot. Their personal stories are a gateway to changing perspective, starting crucial conversations, and empowering athletes to avoid the potential pitfalls which lay before them.

“EPIC and the NCAA remain steadfastly committed to growing this program to meet the needs of our membership.”

Paul Buck, CEO of EPIC Global Solutions, said: “There has been an increase in integrity matters, reports of problem gambling, and athlete harassment. At the time of a fast-growing industry sector, it is vitally important that athletes are protected and educated across the entire NCAA population with effective and modern education in a diverse and impactful way.

“EPIC is proud to be the primary educators of college athletes in the US, putting lived experience at the heart of everything that we do, and we look forward to building the program even further in the months and years ahead.

“We thank the NCAA for being proactive and thought-leading in efforts for athlete safety and look forward to furthering an already strong relationship in 2026, 2027, and beyond.”

The post EPIC and NCAA Publish 2025 Impact Report for Gambling Harm Education Program appeared first on Americas iGaming & Sports Betting News.