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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.
Bjørnar Heggernes Chief Commercial Officer at The Mill Adventure
Navigating the Dutch frontier
Following the recent launch of Winz.nl, powered by The Mill Adventure (TMA), we sat down with Bjørnar Heggernes, Chief Commercial Officer at The Mill Adventure, to discuss how technology, true partnerships and player-centric innovation are the keys to succeeding in the Netherlands and beyond.
Powering a new brand in a regulated market like the Netherlands is often seen as a compliance minefield. How does TMA help a partner like Winz.nl navigate these complexities while maintaining a focus on growth?
Bjørnar Heggernes: It is correct that the Dutch market is one of the most rigorous and demanding in the world. For a new brand, the technical overhead of meeting KSA standards, ranging from CRUKS (the central player exclusion register) integration to complex reporting, can be very difficult to overcome.
Our philosophy is centred around a compliance-first approach. We support complex regulated markets through configurable, jurisdiction-specific workflows. This means the heavy lifting of regulatory logic is handled at the core platform level. For the Netherlands, this includes localised onboarding, responsible gaming automation, CRUKS and CCBR integrations, vault reporting, and intervention controls.
For Winz.nl, this was critical. We provided the technical and compliance infrastructure required for the Dutch market, allowing them to move from licence acquisition to a full launch with total confidence.
With recent warnings from the KSA chair regarding the growth of the black market, there is a clear need for better channelisation. How can regulated brands use innovation to lure players away from illegal sites without resorting to aggressive tactics?
BH: To improve channelisation efforts, the regulated offer must be the superior choice and not just the compliant one. Through our AI-driven SmartLobbies, we automate the casino experience to ensure players see the content they actually enjoy in real-time. Another real game-changer for channelisation is our loyalty framework, exemplified by Winz.nl’s WinClub. It replaces traditional, operator-driven bonus mechanics with a player-initiated model where players earn points and choose their own rewards from a catalogue. It’s transparent, it aligns with responsible gambling principles, and it builds genuine trust. When a player feels in control and is presented with a comprehensive experience that is tailored to them, the unregulated alternative loses its appeal.
We often hear about the hold that legacy operators have on market share. Why is the partnership between an operator and a platform provider the deciding factor for a new brand’s survival?
BH: In today’s B2B landscape, a platform provider must be a strategic growth partner. Large-scale operators can be slowed down by massive, multi-layered infrastructures that make rapid pivoting difficult. Operator groups like Orange Gaming succeed because they are agile. Our partnership works because we provide the technical flexibility and regulatory infrastructure needed to support a differentiated brand while maintaining strong compliance controls. When a platform is modular, the operator can adapt to a sudden regulatory change or a shift in player appetite in days, not months. That speed-to-market is a crucial way to carve out share in a highly competitive regulated market.
How does a technologically advanced platform, one that utilises AI and real-time Business Intelligence (BI), tangibly impact an operator’s bottom line?
BH: It comes down to operational efficiency. Many established brands have massive internal teams manually managing lobbies and CRM campaigns, whereas our platform automates these manual processes. By using real-time BI and AI, a brand can identify and serve niche segments very effectively. For example, our SmartLobbies solution ensures the gaming content is relevant to the individual, which increases retention and Lifetime Value (LTV). We want our partners to make quicker, smarter decisions based on live data. In the Dutch market, where margins are tight and competition is fierce, that level of automation can make all the difference in terms of sustained profitability.
The post Navigating the Dutch frontier appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
1spin4win
1spin4win presents Lucky 1spin4win Hold and Win to mark its 5th anniversary
On May 14, 2026, 1spin4win reached a significant milestone — five years on the iGaming market. The anniversary motto, The Gold Standard of Classic Slots, reflects the studio’s evolution into a recognized name in the classic slot niche, built on years of industry expertise and commitment to delivering authentic gambling experiences.
Today, its portfolio features more than 200 games combining timeless appeal, advanced mathematics, and strong performance. In 2025, 1spin4win achieved a 52.06% increase in bet count and a 56.62% rise in GGR compared to 2024. This growth has helped the provider earn the trust of over 1,000 global operators, including leading brands such as SOFTSWISS, EveryMatrix, Alea, SoftGaming, Digitain, and BetConstruct.
As part of the milestone celebration, 1spin4win introduces Lucky 1spin4win Hold and Win, a special slot highlighting the studio’s landmark titles and renowned characters. Alongside traditional fruit, bells, and sevens, the colorful 3×3 grid features Wild symbols shaped as red bezel-set diamonds. When activated, they illuminate the “5 Years” sign, reinforcing the game’s anniversary theme.
The celebratory atmosphere continues through the slot’s rewarding features. Landing nine identical symbols doubles the win, while three or more Coins trigger the exciting Hold and Win Bonus round. With three starting respins, players get the chance to claim two festive Jackpots — the x100 Minipot Coin and the x1000 Megapot.
To mark the 5-year anniversary, 1spin4win is also launching special promotional campaigns in collaboration with Olymp and Selector. To give players additional opportunities to join the celebration, the partners will distribute exclusive promo codes, which will also be available to the registered users of the provider’s Players Room platform.
Olga Hlukhovskaya, Business Development Director at 1spin4win, commented, “Five years in the industry is an important testament to how far 1spin4win has come. Since 2021, we’ve grown into an acknowledged iGaming brand trusted by top global companies. Looking ahead, we plan to keep expanding across African and Latin American markets, deepen our relationships with regional operators, and further strengthen our presence in Europe. For us, this anniversary is not only about celebrating past achievements, but also about building the next stage of 1spin4win’s journey.
Olga Bogdanova, Art Director at 1spin4win, shared, “Lucky 1spin4win Hold and Win is dedicated to the 1spin4win 5th anniversary in the casino industry. The game’s design brings together iconic characters and signature symbols from our previous releases, well-known to both our players and partners. The result is a vibrant product featuring engaging Hold and Win mechanics and the recognizable 1spin4win classic style. We invite everyone to join the celebration of our anniversary, test their luck in the slot, compete for festive jackpots, and revisit their favorite 1spin4win games!”
About 1spin4win
1spin4win is an established game provider founded in May 2021 by ambitious developers with over 15 years of experience in the gambling industry. Since its inception, the company has expanded its portfolio to include over 200 classic online slots, all characterized by quality mathematics, transparent mechanics, and well-balanced gameplay — key factors that drive strong player retention. The studio aims to release an average of four new games each month in 2026 and offers effective promotional tools for casino operators to help them enhance player loyalty.
The post 1spin4win presents Lucky 1spin4win Hold and Win to mark its 5th anniversary appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Games
Stake releases Zoo casino game: a fast, multiplayer Stake Original where players bet on the wild side
A new live-round Stake Original where every player bets on the same outcome – six animals, a 20-tile track, three results per round, and wins up to 1,000x in play.
Stake, the world’s largest online casino and sportsbook, has today launched its Zoo casino game, a new multiplayer Stake Original that brings every player into the same live round to bet on six animals across a 20-tile track. Available worldwide on Stake, Zoo is the latest title to join the growing Stake Originals collection.
Zoo takes the shared-round excitement that has made games like Crash a Stake Originals staple and pairs it with simpler, more visual decision-making. Each round, six animals – Lion, Cheetah, Elephant, Crocodile, Rhino, and Penguin – appear on a 20-tile circular track, with each animal showing up a different number of times to create clear volatility tiers and payout differences across the board. Players have ten seconds to back one or more animals before the track spins up and locks in three result tiles in the center of the screen.
Zoo launches with a 98% RTP, a top multiplier of 1,000x per round, and full auto bet controls that let players preset their wager amount, number of rounds, and chosen animals. Designed as a simpler, more visual evolution of popular casino games like Roulette and Sic Bo, Zoo strips back the complexity without compromising on depth. The rarer the animal, the bigger the reward – Lion and Cheetah each appear only once on the track, Elephant and Crocodile twice, Rhino four times, and Penguin ten, giving players a clear read on the risk and payout of every play. With three result tiles drawn each round, players win based on how many times their chosen animal lands across all three.
“Zoo is exactly the kind of game we want Stake Originals to be known for – fast, simple to pick up, and genuinely fun to play in an online setting filled with other players. There’s real tension in watching the three tiles land for the whole table at once, and we think players are going to find their favourite animals pretty quickly,” said Stake’s Chief Marketing Officer, Akhil Sarin.
Zoo joins a growing line-up of in-house multiplayer game creations on Stake Casino, with the goal of keeping every Stake Original easy to learn, quick to play, and a little bit different from anything else in the iGaming industry.
About Stake
Stake is the world’s largest online casino and sportsbook, attracting over 100 million monthly visits across its global domains – more than any other iGaming platform on earth. Founded in 2017, Stake attracts over 80 million monthly visits and processes more than 100 billion bets per year. Stake is renowned for its innovation in crypto wagering and its growing expansion into regulated local-currency gaming markets, including Italy, Denmark, Brazil, Colombia, and Peru. The brand boasts an extensive global sponsorship portfolio including Drake, X Games, Everton Football Club, and the UFC.
Contact
Stake.com
The post Stake releases Zoo casino game: a fast, multiplayer Stake Original where players bet on the wild side appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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