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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.
Study of 1,752 Big 5 league matches finds a 12-point uptime gap; live World Cup leaderboard to run during the tournament.
Bettormetrics has launched what it calls the first World Cup Trading Performance Benchmark, ranking sportsbooks on in-play market uptime ahead of the 2026 FIFA World Cup. The sports odds intelligence firm said it will publish a live World Cup leaderboard on its website during the tournament to track trading performance.
The benchmark measures operator uptime on the Total Goals market across 1,752 fixtures in the Premier League, Bundesliga, La Liga, Serie A and Ligue 1. Bettormetrics analysed 22 operators and published a Top 10, reporting a gap of more than 12 percentage points between the highest and lowest performers.
Tipico ranked first overall with 95.9% uptime, followed by Fanatics (95.3%) and Betsson (94.9%). Superbet (94.8%) and Betano (94.7%) rounded out the top five. Bettormetrics said Premier League fixtures generally delivered the highest availability across operators, while La Liga was “the key differentiator” and “consistently produced the lowest availability figures across the field.”
The results also highlighted regional shifts. Bettormetrics noted that none of bet365, William Hill, Ladbrokes or Paddy Power made the Top 10, while Fanatics placed second overall as the highest-ranked US operator. It also flagged Pinnacle and SBOBET as ranking poorly on in-play availability in this analysis despite “strong reputations for pregame pricing and market depth.”
Sabin Brooks, CEO of Bettormetrics, said: “The World Cup represents one of the highest-risk and highest-opportunity periods in the sportsbook calendar. Small differences in uptime, trading performance and market availability can have a material impact on turnover, profitability and even reputation.
“The World Cup leaderboard will answer one simple question: which sportsbook performed best when it matters most?”
The post Bettormetrics publishes World Cup trading benchmark; Tipico leads uptime ranking appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
GoldenRace will exhibit at Peru Gaming Show 2026 at the Centro de Exposiciones Jockey in Lima on 17-18 June, where it plans to showcase its new V5 mobile solution, according to the supplier.
The company said the V5 delivery focuses on performance and operator control, with a unified UI/UX built around “ultra-fast performance”, “total brand authority” through customisation, and “intuitive navigation”, including a “one-click hybrid toggle” to access markets.
GoldenRace also plans to highlight its Hit&Win games, including Arcade Heist—“recently crowned with the Game Innovation Award at the SiGMA Africa Awards 2026”—and Fortune Fighters, which the company said is built to run on the V5 infrastructure.
Other products listed for the stand include In-shop Mobile, a retail feature that enables customers to bet on their own devices while in-store, plus virtual Greyhound and Horse Racing content.
The supplier said it will also feature products from other group brands at the show: Spinmatic, Novusbet and Xpress Tech. GoldenRace said attendees can meet the team at stands 11-14.
The post GoldenRace to showcase V5 mobile betting solution at Peru Gaming Show 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
BetOnGames, the instant games vertical of the BETCORE ecosystem, has launched Cricket Strike Crash, a sports-themed crash game, the company said on June 4, 2026.
Cricket Strike Crash uses a real-time multiplier that increases while the round continues, with players choosing when to cash out before the crash. BetOnGames positions the title for fast-cycle play and mobile-first sessions.
The game ships with a stated RTP of 97.5% and medium volatility. BetOnGames also says Cricket Strike Crash uses a “provably fair system” designed to provide transparency on outcomes.
Cricket Strike Crash joins BetOnGames’ wider instant games catalogue within BETCORE, alongside TVBET and ElCasino. The group offers operators access to crash games, instant win games and slots via a single B2B integration, according to the company.
A product video is available here.
The post BetOnGames launches Cricket Strike Crash for its crash games portfolio appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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