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.
Golf
Soft2Bet Gathering: An Elite Golf & Padel Experience
Soft2Bet, a leading iGaming turnkey solutions provider, recently brought together industry connections for an exclusive two-day golf and padel experience at the Gleneagles Hotel in Scotland. The event brought Soft2Bet’s friends and connections together to enjoy a relaxed day of golf and padel, meaningful conversations, and shared moments in an inspiring setting, celebrating the spirit of connection and community that defines the company’s approach.
Set against the backdrop of one of Scotland’s best-known sporting estates, the day paired competitive play with the camaraderie and shared spirit that are such a valued part of the game. Attendees enjoyed access to Gleneagles’ most exclusive Ryder Cup & Solheim courses, where the relaxed setting encouraged genuine connection and reflected the supportive atmosphere that made the gathering especially memorable.
Gleneagles was a fitting venue for the occasion. With more than a century of golfing history, three championship courses and a reputation built on world-class hospitality, it remains one of Scotland’s standout golf destinations. Its PGA Centenary Course hosted the 2014 Ryder Cup and the 2019 Solheim Cup, making Gleneagles the only golfing destination in Europe to have staged both events.
The event reflects Soft2Bet’s belief that strong connections are built through shared goals, trust and collaboration. Creating space for in-person connection allows the company to deepen those relationships and support long-term success.
Harrison Barrett, VP of Business Development at Soft2Bet, commented: “Bringing the industry together in a setting like Gleneagles allows us to go beyond day-to-day operations and focus on what truly drives success, while playing golf and padel. Events like this are an opportunity to align on vision, exchange ideas and celebrate the momentum.”
Stuart Trigwell, Director of Business Development at Play’n GO said: “The time spent at Gleneagles, enjoying the incredible courses and engaging in genuine, strategic conversations, was an absolute highlight. It is events like these that reinforce the trust and collaborative spirit at the core of our relations.”
The gathering reflects Soft2Bet’s wider approach to the iGaming community engagement, creating opportunities for stronger collaboration and supporting growth across key markets.
The post Soft2Bet Gathering: An Elite Golf & Padel Experience appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Booming Games
Booming Games releases Ultra Buffalo Hold and Win
Booming Games, a leading provider of premium gaming content, has launched Ultra Buffalo Hold and Win, an electrifying new slot that brings the energy of the plains straight to the reels. Featuring a classic 5×3 grid with 20 fixed paylines, the game offers a maximum win potential of 5,000x. Set against a striking desert backdrop, players encounter iconic wildlife symbols, including buffalo, eagles, and wolves.
The slot delivers a high-stakes experience with a suite of thrilling bonus features. Landing three Bonus symbols on reels one, three, and five triggers the Buffalo Bonus Wheel, offering Grand, Major, Minor, and Mini prize pots, as well as the enhanced Ultra Mode, which adds two extra rows to the grid.
Randomly, the Wild Buffalo Herd feature may activate to transform symbols into wilds and upgrade existing wilds to Wild x2, ratcheting up the excitement. Meanwhile, landing five or more coins triggers the Ultra Hold and Win feature, expanding the grid to 5×8 and raising the potential for massive payouts. Players who fill the extended grid capture the Grand Prize Pot, worth 2,000x their bet.
The intensity ramps up further with the Ultra Reel, unlocked by stacking a full 1×8 reel during Ultra Hold and Win. This dramatic addition multiplies or adds coin values to the rows below, pushing the game’s payout potential to a staggering 5,000x.
April will see Booming Games continue its high-octane release schedule with six new titles, including Fly On! and Fish Tales Monster Bass 10,000, boasting innovative features and maximum wins of 5,000x and 10,000x, respectively. These releases reinforce the studio’s focus on high-quality, high-volatility experiences designed for thrill-seeking players.
Craig Asling, Director of Games at Booming Games, said:
“Ultra Hold and Win is an exciting evolution of our classic Hold and Win mechanic. Every spin holds the promise of big rewards, and with features like the Ultra Reel and Buffalo Bonus Wheel, we’ve created a modern, pulse-pounding experience that players are going to love. Step into the herd and feel the charge!”
The post Booming Games releases Ultra Buffalo Hold and Win appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Conferences
R. Franco Digital to showcase next-generation solutions at SiGMA South America 2026
R. Franco Digital, the Spanish iGaming provider, is set to exhibit at the SiGMA South America 2026, following a landmark year of commercial expansion.
The company will return to São Paulo from April 6-9 to present its latest suite of highly engaging games and services, tailored specifically for the evolving Latin American landscape.
R. Franco Digital enters this year’s exhibition having solidified its market presence across Portugal, Italy, and Peru, and is focused on leveraging that international expertise to support operators within Brazil’s maturing regulated framework.
Central to the showcase at Booth P105 will be the provider’s most popular games, including recent standouts such as Strange Spins, Genie Triple Bonanza, Diamond King Gorilla, Luxury Blast, Zorro: Final Duel and The Phantom.
These titles are designed to deliver localised, highly engaging player experiences, setting new standards for content in regulated and emerging markets.
In addition, R. Franco Digital will highlight the latest evolution of its IRIS platform. As a comprehensive, GLI-certified solution for casino, sports betting, and retail operators, IRIS is certified in key markets including Portugal, Spain, Colombia and Puerto Rico.
Javier Sacristán Franco, International Business Director of R. Franco Digital, said: “Brazil continues to be a primary focus for our global strategy, and SiGMA South America is the perfect stage to showcase how our games and technology can drive operational success. Our content portfolio and IRIS platform have evolved to meet the specific demands of players across the LatAm region.”
The post R. Franco Digital to showcase next-generation solutions at SiGMA South America 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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