Latest News

GAN Reports Third Quarter 2024 Financial Results

Published

1 year ago

November 12, 2024

Niji Narayan

gan-reports-third-quarter-2024-financial-results

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.

ELA Games

ELA Games launches King and Flame slot with Hold and Win coins and Bonus Wheel

Published

2 hours ago

April 23, 2026

Wladimir P.

ela-games-launches-king-and-flame-slot-with-hold-and-win-coins-and-bonus-wheel

The 5×3, 20-payline fantasy title includes expanding wild events, Mystery Chests, Free Spins, and a 5,000x max win.

ELA Games has released a new fantasy-themed slot, King and Flame, built on a 5×3 layout with 20 paylines.

The game includes a Hold and Win-style coin mechanic where coins “paying exactly their visible face value,” according to the company. ELA Games also highlighted “Queen’s Mercy” and “Mystery Chests,” which it said can deliver instant prizes or trigger the Grand Jackpot.

On the feature side, ELA Games said the “Tamed by the Crown” event can turn the Dragon Queen into a full reel wild. A “Bonus Wheel Coin” can also appear to unlock a bonus wheel with extra prizes, jackpots, and Free Spins.

The Free Spins round is triggered by three Scatter symbols. During Free Spins, ELA Games said any coin that lands expands to cover the entire column. The title’s maximum win is capped at 5,000x, with a stated maximum exposure of €250,000.

King and Flame is rated mid volatility (2/5), according to the company.

The post ELA Games launches King and Flame slot with Hold and Win coins and Bonus Wheel appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Inside GEO

Inside GEO: Slovenia As the Next Emerging Goldmine

Published

2 hours ago

April 23, 2026

Wladimir P.

inside-geo:-slovenia-as-the-next-emerging-goldmine

Slovenia is definitely one of the most promising GEOs for the iGaming niche.

That is why the N1 Partners team has collected insights that will help to work more accurately with the audience, increase ROI and build effective advertising campaigns for the GEO.

Let’s look at the big picture to understand the potential of the region better. Slovenia is a small country in Central Europe with a population of about 2.1 million people and its capital in Ljubljana. The official language is Slovenian, the currency is euro, and the time zone is CET (UTC+1).

With the background of a high living standard and a stable economy, the market creates favorable conditions for online gambling: the iGaming sector is already showing steady growth, and its volume was estimated at about $497 million by 2025.

Reasons to test Slovenia

Slovenia is a promising region, but it often turns out to be underestimated in the iGaming niche.

Top 3 reasons to drive traffic to Slovenia right now:

Low competition.
Slovenia is the country with a low share of online gambling in the market. For partners, this is a signal: with proper localisation and strategy, you can enter a less competitive environment and make a long-term profit.
Solvent players.
The GDP per capita in Slovenia is about $35.3 thousand, which confirms the high level of audience solvency and the potential for stable LTV.
High potential.
Slovenia is not an overheated online market: in European comparison, the share of online gambling in the overall revenue structure remains relatively low. This means that the market has not yet fully realised its digital potential and there’s a room for growth.

Players’ behaviour

Slovenian users are more likely to choose online platforms due to their convenience, wide choice of games and accessibility from mobile devices.

In this region, smartphones account for the majority of iGaming traffic — 86.45%, which requires the adaptation of all funnels to mobile devices.

Gender and age

Men — 63%, average age 31-35 years
Women — 37%, average age 26-30 years

According to N1 Partners, the iGaming market remains predominantly male, which is confirmed by external research: the main audience is men aged 25-44. At the same time, the proportion of women is gradually increasing, expanding the segment’s potential.

Top 10 slots Among N1 Partners Players in Slovenia

N1 Partners team notes that players prefer slots with recognizable series, bonus features and adventure themes — this directly affects retention and LTV.

Legacy of Dead
Book of Dead
Heist Stakes
Book of the Fallen
Gates of Olympus Super Scatter
Lucky Lady’s Charm Deluxe
Magic Apple 2
Rich Wilde and the Tome of Madness
Gonzo’s Quest II: Return to El Dorado
More Magic Apple

Conclusion

Slovenia is a GEO with strong and sustainable potential and a high share of mobile traffic, as well as a growing iGaming market, ideal for those working with gambling traffic.

N1 Partners analytics confirms that with the right localisation strategy and taking into account the characteristics of the audience, this market is able to bring stable profits and long-term growth within the framework of iGaming partner programs.

Wanna scale and increase your income? Work with N1 Partners!

N1 Partners is a multi-brand affiliate program and direct advertiser, bringing together 14+ casino and betting brands with high conversion (CR) and Reg2Dep across Tier-1 GEOs.

N1 Partners offers competitive terms for top partners, including CPA up to €700 and RevShare up to 55%, ensuring stable and scalable performance.

Trusted by 14,000+ partners, N1 Partners stands out for its transparency, flexibility, and focus on long-term partnerships, supported by a strong product portfolio and advanced retention systems.

The post Inside GEO: Slovenia As the Next Emerging Goldmine appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

3 Oaks Gaming

3 Oaks Gaming adds Must Drop JACKPOT mechanic to 4 Pots of Egypt slot

Published

2 hours ago

April 23, 2026

Wladimir P.

3-oaks-gaming-adds-must-drop-jackpot-mechanic-to-4-pots-of-egypt-slot

New variant pairs Hold & Win gameplay with two daily progressive jackpots designed to drop before a capped maximum value.

3 Oaks Gaming has released Must Drop JACKPOT 4 Pots of Egypt, extending its Must Drop JACKPOT series by adding the time-limited jackpot mechanic to its 4 Pots of Egypt slot.

The 5×3, 20-line title uses a Hold & Win format and a four-pots bonus structure, with a progressive jackpot that the supplier says is guaranteed to drop before reaching a defined maximum value. 3 Oaks Gaming said two progressive jackpots are available daily.

According to the company, the Must Drop JACKPOT prize is set at network level within the game, meaning operators can deploy the promotional feature without additional administrative setup.

The game is built on the original 4 Pots of Egypt, with three smaller pots—Boost, Collect and Multi—and a fourth pot that can add Mini to Major jackpot values on up to three random symbols during the Bonus Game.

Victoria Vashukevich, Acting CCO 3 Oaks Gaming, said: “Must Drop JACKPOT 4 Pots of Egypt builds on the strength of proven Hold & Win gameplay with the added excitement of our Must Drop JACKPOT feature.

“The game’s layered bonus features, engaging Egyptian theme and progressive jackpot functionality make it a valuable addition to our portfolio and an attractive proposition for operators seeking high-performing content.”

The post 3 Oaks Gaming adds Must Drop JACKPOT mechanic to 4 Pots of Egypt slot appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.