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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.

Free Ticket Drops

GGPoker Brings Back WSOP Super Circuit with Record $180M Guarantee

Published

4 hours ago

February 24, 2026

Wladimir P.

ggpoker-brings-back-wsop-super-circuit-with-record-$180m-guarantee

GGPoker, the world’s largest online poker platform, is set to host the highly anticipated 2026 WSOP Super Circuit online tournament series, running from March 1 to March 31.

This year’s edition features an unprecedented $180 million in guaranteed prizes, solidifying GGPoker’s reputation as the premier global poker destination.

Players will compete across 18 WSOP Gold Ring events, offering the chance to win one of poker’s most prestigious trophies and significant cash prizes.

Key Events & Highlights:

#5: $525 Mystery Millions [Final Stage] – March 9, $525 buy-in, $10M GTD ($1M Top Bounty)
#13: WSOP Super Circuit MAIN EVENT [Day 2] – March 23, $1,700 buy-in, $15M GTD
#18: GGMillion$ High Roller [Day 2] – March 30, $10K buy-in, $10M GTD

Exclusive Champion Perks
Winners of all 18 Gold Ring events receive:

A $5K WSOP Paradise package
Recognition on the official WSOP Rankings leaderboard

$3 Million in Free Ticket Drops
Participants in any WSOP Super Circuit event can win WSOP Express tickets, $5K Ring Passes, or $10K Bracelet Passes. Tickets will be awarded randomly throughout the series, totaling $3 million in free prizes.

Live Coverage
Final tables for the Main Event (#13) and High Roller (#18) will be streamed live on GGPoker.TV and YouTube, hosted by Jeff Gross, with commentary by Daniel Negreanu for the High Roller.

Player and Ambassador Excitement
Daniel Negreanu said: “The 2026 WSOP Super Circuit at GGPoker is absolutely massive. With $180M in total guarantees, including $15M Main Event and $10M Mystery Millions, it’s the perfect time to compete for record-breaking prizes.”

The post GGPoker Brings Back WSOP Super Circuit with Record $180M Guarantee appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Casino Bonus Features

PopOK Gaming Unveils Macaco Millionario Dual-Grid Slot

Published

5 hours ago

February 24, 2026

Wladimir P.

popok-gaming-unveils-macaco-millionario-dual-grid-slot

PopOK Gaming has launched Macaco Millionario, a vibrant online slot inspired by Chinese symbolism and designed with an innovative double-grid bonus feature.

Rich red and gold visuals, lucky symbols, and a playful Macaco character combine to deliver a visually engaging and rewarding gaming experience.

The game features a 5×3 layout with 30 fixed paylines and two types of Wilds, including Double Wilds that count as two symbols for higher winning potential. The Double Fortune Free Spins round introduces an extra 5×3 reel set, allowing players to spin two grids simultaneously. Wins across both grids trigger multipliers up to x20, and retriggers extend the bonus for bigger payouts.

With a maximum multiplier of x1,732, Macaco Millionario delivers exciting bonus features, including Free Spins, Double Free Spins, Double Win Multipliers, Extra Spins, and a jackpot option. The game offers an RTP of 96.56% and supports bets from EUR 0.02 to EUR 100, fully optimized for web and mobile play. Multi-language support includes English, Brazilian Portuguese, Spanish, Chinese, and Hindi.

“Macaco Millionario blends cultural familiarity with a unique bonus structure that delivers thrilling moments in every spin,” said Tsovinar Elchyan, Head of Partnerships at PopOK Gaming. “The double-grid feature sets it apart from traditional slots, offering operators and players something truly innovative.”

The slot is now live and available for integration across all platforms supporting PopOK Gaming content. Operators interested in adding Macaco Millionario to their portfolios can contact PopOK Gaming directly.

The post PopOK Gaming Unveils Macaco Millionario Dual-Grid Slot appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

AI in lottery

Scientific Games Appoints Rich Wasserman as Senior Vice President of Product Engineering

Published

5 hours ago

February 24, 2026

Wladimir P.

scientific-games-appoints-rich-wasserman-as-senior-vice-president-of-product-engineering

Scientific Games has appointed Rich Wasserman as Senior Vice President of Product Engineering, reinforcing its commitment to advancing lottery systems technology and digital innovation.

Based in Atlanta, the global lottery provider continues to expand its technology leadership as one of the fastest-growing suppliers of retail and digital lottery solutions worldwide.

Leadership Experience from Amazon, Facebook and Stitch Fix

Wasserman brings more than 20 years of experience leading engineering, data science and product teams across high-performance technology platforms.

He previously held senior leadership roles at:

Amazon
Facebook
Stitch Fix

At Stitch Fix, he served as Vice President of Engineering and Data Science, leading automation, AI-driven systems and platform optimization initiatives. Wasserman holds a Ph.D. in Electrical Engineering and a Computer Science degree from the University at Buffalo.

Driving Innovation Across Global Lottery Platforms

In his new role, Wasserman will oversee Product Engineering across Scientific Games’ global portfolio serving more than 150 government-regulated lotteries. His responsibilities include advancing:

Retail lottery systems
Digital lottery platforms
Hardware and software innovation
Data analytics and AI capabilities
Consumer engagement technologies

CEO Pat McHugh stated that Wasserman’s experience scaling AI-powered platforms at world-class technology firms will help accelerate innovation and deliver next-generation lottery solutions focused on sustainable growth.

Strengthening Lottery Technology Leadership

Scientific Games continues to invest in technology, analytics and digital transformation to enhance consumer experiences across retail and online lottery channels. The appointment underscores the company’s strategy to integrate advanced analytics and machine learning into its global lottery ecosystem.

The post Scientific Games Appoints Rich Wasserman as Senior Vice President of Product Engineering appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.