Connect with us

Latest News

GAN Reports Third Quarter 2024 Financial Results

Published

on

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.

blackjack

ICONIC21 launches Private Edition Blackjack with a single-player 7-seat live table

Published

on

iconic21-launches-private-edition-blackjack-with-a-single-player-7-seat-live-table

ICONIC21 has launched Private Edition Blackjack, a live table game built around a single-player format. The company said the table is reserved entirely for one player and supports up to seven hands played simultaneously.

Private Edition Blackjack uses a seven-seat table model with a high minimum bet requirement, positioning it at VIP and high-value segments. ICONIC21 said players can request a dealer change, request a shoe change, or choose to keep their current dealer.

The product also adds ICONIC21’s integrated LED Studio technology. According to the company, a built-in LED screen enables operators to change background visuals to support campaigns, partnerships, events, or player segmentation.

Edvardas Sadovskis, Chief Product Officer at ICONIC21, said: “Private Edition Blackjack brings a much stronger sense of ownership to the live blackjack experience. Players are not simply joining a seat – they take full control of the table, playing up to seven hands and shaping the session through dealer and shoe preferences.

For VIP and high-value players, engagement is everything. This format ensures the dealer’s full attention is dedicated to a single player, creating a more personal and immersive experience. With extended decision time and no need to accommodate others at the table, players can control the pace of the game and play entirely on their own terms.”

The post ICONIC21 launches Private Edition Blackjack with a single-player 7-seat live table appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Latest News

QTech Games adds ReelPlay slots via ARC iGaming distribution

Published

on

qtech-games-adds-reelplay-slots-via-arc-igaming-distribution

Aggregator expands its supplier line-up for operators in emerging markets, with a focus on Africa and Latin America.

QTech Games has signed a supplier partnership with B2B iGaming content developer ReelPlay, giving QTech’s platform customers access to ReelPlay’s slots catalogue via distribution partner platform ARC iGaming.

The agreement adds ReelPlay titles including the 10K WAYS™ series and Megaways™ games such as Hypernova Megaways™, 10,000 Wonders 10K WAYS™ and Atlantis Megaways™ to QTech’s aggregation offering.

QTech Games said the collaboration is aimed at extending ReelPlay’s reach in emerging markets, with particular emphasis on Africa and Latin America.

QTech Games CEO, Philip Doftvik, said: “We’re dedicated to constantly launching more and more first-class content and product innovation that drives revenue for our partners. So, this deal with ReelPlay extends our portfolio. We look forward to sharing Reelplay’s games with both leading and challenger operator brands in emerging markets worldwide.”

Niki Longmuir, CCO at ReelPlay, added: “At ReelPlay, we pride ourselves on working with the sector’s biggest and most commercially recognised partners, and QTech Games fits the bill perfectly, as we continue to broaden our borders, expanding our brand. Together, we will strive to prioritise the player experience, ensuring that every game we create is designed with the player in mind first. QTech’s platform is a gateway to global audiences, so we can’t wait to see how our highly engaging games perform across a greenfield landscape of emerging markets.”

The post QTech Games adds ReelPlay slots via ARC iGaming distribution appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Argentina

Win Systems deploys Wigos CMS at Casino City Center Rosario, linking 2,500+ slots

Published

on

win-systems-deploys-wigos-cms-at-casino-city-center-rosario,-linking-2,500+-slots

The Argentina rollout adds player tracking and QR-based cashless payments via Win Pay, the company says.

Win Systems has implemented its Wigos casino management system (CMS) at Casino City Center Rosario in Argentina, connecting more than 2,500 slot machines to operate and report in real time. The supplier announced the deployment on May 4, 2026.

According to Win Systems, the Wigos rollout centralizes operational management across gaming and customer-facing functions, with modular components spanning slots, tables, players, promotions, and payments. The company said the installation is designed to support operator oversight and decision-making through a single real-time view.

The project also introduces new functionality at the venue, including Player Tracking for player identification and management, and the activation of “Fun Plays.” Win Systems also said the site can enable a QR-based cashless option that allows players to load credit directly to a machine from a bank account or electronic wallet, via its Win Pay payment management platform.

Francisco de Moya, CEO of Halkkon Capital Partners, commented: “This launch represents an important step in the technological evolution of our operation, allowing us to optimize management, enhance the customer experience, and lay the groundwork for future developments.”

Eric Benchimol, CEO of Win Systems, added: “The deployment of Wigos at City Center Rosario is a clear example of how our technology adapts to large-scale operations, enabling operators to optimize processes, improve the player experience, and evolve toward increasingly digitalized models.” Darío Zutel, Executive Chairman of Win Systems, said: “This implementation is part of our growth strategy in the region and reflects our commitment to supporting operators with robust, scalable, and future-ready technology.”

 

The post Win Systems deploys Wigos CMS at Casino City Center Rosario, linking 2,500+ slots appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania