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.
Eastern Europe
ELA Games reports 244.52% active user growth in Romania
Supplier links the uplift to classic-style slots with modern features, including Joker Winpot, as bet counts rise 239.74%.
ELA Games says it has expanded in Romania after rolling out titles that pair classic slot aesthetics with modern gameplay features.
The supplier reported a 244.52% increase in active users in Romania and a 239.74% rise in bet counts. The company attributed the performance to what it described as a “natural path” for traditional players to move into more feature-led play.
Marharyta Yerina, Managing Director of ELA Games, said: “It is great to see how Romanian players are enjoying the way we combine classic symbols with modern features. Joker Winpot works well for those who love the traditional look but actually want more excitement from their play. We also see that once players feel comfortable with these mechanics, they are happy to explore our other top titles which have proved to be successful in Romania like Cash of Gods and Flames Fruit Frenzy. It proves that respecting what players like is the best way to introduce new ideas to the market.”
ELA Games did not disclose the timeframe for the reported increases, which operators it works with in Romania, or how the metrics were calculated.
The post ELA Games reports 244.52% active user growth in Romania appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Belatra
Belatra Games confirms Lima trip for Peru Gaming Show 2026
Slots developer plans partner meetings and private events around PGS on 17-18 June at the Jockey Exhibition Center.
Belatra Games will attend Peru Gaming Show (PGS) 2026 in Lima on 17-18 June, with the company confirming plans to use the event for meetings with existing clients and prospective partners.
PGS, now in its 23rd year, will be held at the Jockey Exhibition Center. Belatra said it will have a team present throughout the show to discuss its slots portfolio and explore commercial opportunities in Peru as part of its broader Latin America strategy.
Alongside the trade show schedule, Belatra said it will host a private “Belatra Cocktail Experience” for partners and run a watch party on 16 June for Argentina’s match against Algeria.
The company also noted it will attend SBC Americas in Fort Lauderdale ahead of PGS, describing the event as an opportunity to meet operators from North and Latin America and present “LatAm-ready content”.
Lucila M. Barletta, Head of Accounts LatAm at Belatra, said: “Peru is an exciting and growing market and PGS is the perfect place to build on our relationships with partners already working with us and to connect with new ones. We look forward to an amazing couple of days in Lima and, of course, rooting for Argentina with our friends and partners throughout the evening. It’s going to be a special occasion all around.”
The post Belatra Games confirms Lima trip for Peru Gaming Show 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
BC.GAME
BC.GAME adds BETBY to BC Engine as staker rewards pass $2.5m
BC.GAME has partnered with sportsbook supplier BETBY, bringing the supplier into BC Engine, the platform’s rewards and participation model powered by its native $BC token.
BC Engine launched in April and is positioned by BC.GAME as a mechanism that links platform-generated profits and activity to ongoing rewards for $BC holders. Under the model, players earn $BC by playing casino games on BC.GAME, with tokens allocated and staked in BC Engine. Rewards are then distributed based on users’ holdings.
BC.GAME said stakers have earned more than $2.5 million in rewards since launch. The company also cited on-platform data showing more than $74.3 million in total wager and over 5.8 million bets.
Kar Kheng Giam, Chief Executive Officer of BC.GAME, said: “Our vision for BC Engine has always been to create a model where platform growth and player participation are more closely aligned.
“The addition of BETBY is significant because it demonstrates how the ecosystem can continue to expand through strategic partnerships. Every new contributor helps strengthen the engine, creating additional utility for $BC and reinforcing the long-term sustainability of the model.
“As we continue to grow the network, our focus remains on delivering a simpler and more transparent rewards experience that allows players to participate more directly in the success of the ecosystem.”
Christos Nikolopoulos, Chief Commercial Officer at BETBY, said: “We’re pleased to become part of the BC Engine ecosystem and support an initiative that brings a different approach to player engagement.”
“At BETBY, innovation has always been at the heart of our business, and BC Engine represents an interesting evolution in how gaming platforms can connect product performance, community participation and rewards. We look forward to contributing to its continued growth.”
BC.GAME said the BETBY deal is part of a wider push to expand $BC utility and add more ecosystem partners contributing to BC Engine. The company also pointed to recent international expansion, including moves in Africa via Nigeria and Kenya, alongside initiatives in Latin America.
The post BC.GAME adds BETBY to BC Engine as staker rewards pass $2.5m appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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