Latest News
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.
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BePlay
REEVO Enters into a New Partnership with BePlay
REEVO has entered into a new partnership with BePlay, an innovative game studio recognised for combining handcrafted design, proprietary technologies and data-driven game mechanics to deliver engaging player experiences. This collaboration further strengthens REEVO’s aggregation ecosystem, adding a portfolio of high-performing content built to maximise engagement, retention and operator success.
Through this partnership, BePlay’s portfolio is now available on the REEVO aggregation platform, giving operators seamless access to a growing collection of distinctive slot experiences through a single integration. The addition reinforces REEVO’s commitment to continuously expanding its content offering with studios that bring originality, innovation and measurable performance.
At REEVO, building a world-class aggregation platform means partnering with providers that challenge convention and deliver content that stands out. BePlay has earned a reputation for creating games powered by custom technologies, advanced mechanics and its unique SMART DATA MODE approach, helping operators deliver experiences that resonate with players and drive commercial results.
As REEVO continues to grow its global network, partnerships like this play an important role in strengthening the diversity and quality of content available through the platform. By bringing together innovative studios under one ecosystem, REEVO empowers operators with greater choice, stronger engagement opportunities and scalable growth.
Daniel Cuc, Head of Account Management at REEVO, said: “Partnering with BePlay is another exciting step for REEVO as we continue to strengthen our aggregation platform with studios that bring a fresh perspective to game development. BePlay’s focus on innovation, technology, and player engagement aligns perfectly with our vision of delivering content that creates real value for operators. We are committed to building an ecosystem where quality content and seamless distribution come together, and BePlay is a fantastic addition to that journey.”
Sam Mamedov, Business Development Manager at BePlay, said: “Reevo has always stood out to me as an aggregator with genuinely top-tier standards, both in how they run their processes and how they do business. What really sets them apart is the warmth of their team. It’s something many companies lose as they grow, but REEVO has managed to maintain that human approach while operating at the highest level. I’m genuinely happy our partnership is taking off, and I think everyone will see the results of it very soon.”
The post REEVO Enters into a New Partnership with BePlay appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Dagmar Händler
NOVOMATIC Takes a Strong Stand on Employee Health and Workplace Safety
NOVOMATIC has held its annual Health Day at its Lower Austrian headquarters, underlining its consistent commitment to workplace health promotion and an attractive working environment.
The diverse range of activities focused on health, fitness and safety delighted more than 1000 employees at the 7th NOVO-Company Day at the headquarters in Gumpoldskirchen. The event is part of the “Enjoy Working With Us” initiative and underscores the international gaming technology group’s ongoing commitment to a healthy and motivated work environment.
This year’s Health Day was officially opened with a warm welcome from the entire Executive Board of the NOVOMATIC AG Group.
“The health, safety, and well-being of our employees are a central pillar of our company’s long-term success. That is why we make targeted investments in measures that promote a healthy, motivating, and supportive work environment. The NOVO-Company Day brings this commitment to life in a special way year after year and underscores the high priority NOVOMATIC places on these issues,” said Stefan Krenn, Member of the Executive Board of NOVOMATIC AG.
Dagmar Händler, Mayor of Gumpoldskirchen, said: “NOVOMATIC is a major employer and economic driver for Gumpoldskirchen as well as for the entire region. It is all the more gratifying that the company is once again sending such a clear signal this year regarding the well-being of its employees.”
The varied programme included, among other things, health screenings, blood tests, lung function tests and individual consultations on nutrition, ergonomics and smoking cessation. The offerings were complemented by various exercise and sports stations, including basketball, darts and e-bike test rides. Practical safety training sessions, such as a fire extinguisher drill and the “Coffee with Cops” event featuring police experts, rounded out the diverse programme.
The post NOVOMATIC Takes a Strong Stand on Employee Health and Workplace Safety appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
B2B
Gamingtec signs on as headline partner for Midnight Mayhem at ICE Barcelona
Gamingtec has been named Headline Impact Partner of Midnight Mayhem Fight Night, a charity boxing event run by Behind The Gloves and scheduled alongside ICE Barcelona on 19 January 2027.
Behind The Gloves said the campaign is targeting €150,000 in fundraising and will follow 16 industry figures as they prepare to box.
According to the organisers, Gamingtec’s support will cover elements including a six-month training programme, event fundraising, fighter storytelling and post-event impact reporting. The partnership will also support a WBC Adaptive Boxing showcase and reporting on how proceeds are distributed to charities nominated by fighters and partners.
Sapar Karyagdyyev, Founder of Gamingtec, said: “At Gamingtec, we believe the strongest partnerships create value beyond business, so supporting Midnight Mayhem was a natural fit for us. The initiative brings together people from across our industry to raise money for important causes while highlighting the positive impact the sector can have when it comes together behind a shared goal.
“We’re proud to support Behind The Gloves as Headline Impact Partner and look forward to growing the event, amplifying its fundraising mission and celebrating the participants throughout their journey to ICE Barcelona.”
Lee McFarland, Founder of Behind The Gloves, said: “A target like €150,000 isn’t achieved through enthusiasm alone – it’s achieved through commitment. Gamingtec’s decision to become our Headline Impact Partner strengthens every part of Midnight Mayhem and gives us the platform to create an even greater impact for the charities and communities we’re supporting.
“But more importantly, it sends a message. When a company of Gamingtec’s standing backs an initiative like this, it shows what our industry can achieve when businesses come together behind a shared purpose. That’s how one fight night becomes something much bigger, and I couldn’t ask for a better partner to have in our corner.”
The post Gamingtec signs on as headline partner for Midnight Mayhem at ICE Barcelona appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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